AI Isn’t the ‘Easy’ Button

As much as we wish it were true, AI isn’t an “easy” button. Instead, planning for AI is more like an odd game of Candyland that requires you to chart a path through the “Fog of FUD (fear, uncertainty, and doubt), over the mountain of “Inflated Expectations,” and across the “Valley of Disillusionment” before you finally reach the Peak of Improved Performance. While no two organizations’ paths will be the…

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What to Expect When Selling a Business: A Conversation with Jordan Gerber at Caber Hill Advisors

To help businesses, investors, and deal professionals better understand the evolving M&A market, Rob Connolly – a partner in and leader of LP’s Corporate Practice Group – shares a sequence of conversations with M&A experts. Below is his conversation with Jordan Gerber, a Managing Director at Caber Hill Advisors, an M&A advisory firm that focuses on helping privately-held, middle-market businesses transact with strategic or private-equity-backed buyers. Jordan has over 25…

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Carried Interests Again – and a Reminder About Gifting

The tax treatment of carried interests (sometimes referred to as “promotes”) changed under the Tax Cut and Jobs Act of 2017. The thrust of the change was to establish a new three-year holding period (instead of the standard one-year holding period) before a fund general partner or investment partnership sponsor could access the favorable 20% long-term capital gains tax rate in respect of its carried interest (the tax treatment of…

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How to Put the ‘Art’ In Artificial Intelligence: Using AI in Brand Management

Marketers are naturally creative and have always thought outside the box in terms of how to be more efficient while delivering products and services. Many have started to look at how AI may increase their brand visibility. The approach has always been to craft messaging and communicate through storytelling in an effort to build strong relationships with their potential clients which leads to brand loyalty. Artificial intelligence (AI) and its…

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The Application of Personal Goodwill in Accounting Firm Deals

Accounting firm deals often involve complex tax issues, and it is important to understand their implications. If you have any questions on this article, please do not hesitate to reach out to the author or Russell Shapiro, who leads LP’s Accounting Firm Practice. As part of our ongoing series on tax issues for accounting firm transactions, this article discusses the benefits of utilizing personal goodwill in accounting firm M&A deals when appropriate. Personal…

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M&A Insights and Outlooks in Packaging and Industrial Industries

To help businesses, investors, and deal professionals better understand the evolving M&A market, Robert Connolly – a partner in and leader of LP’s Corporate Practice Group – shares a series of conversations with M&A experts. Below is his conversation with Brett Kornblatt, who is Managing Director of Industrials-Packaging at Stout, a global advisory firm that specializes in corporate finance, accounting and transaction advisory, valuation, financial disputes, claims, and investigations. Brett…

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Redesigning Design Patent Validity

  The U.S. Court of Appeals for the Federal Circuit sitting en banc recently overruled the long-standing test for determining obviousness of design patents in LKQ Corporation, Keystone Automotive Industries, Inc. v. GM Global Technology Operations, LLC. Almost immediately after the Federal Circuit handed down its opinion, the U.S. Patent and Trademark Office (the USPTO) issued new guidelines for the examination of design patent applications. Under the “old” test for…

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Real-Time Feedback Can Be More Productive Than a Formal Feedback Process

The mere mention of “feedback” can make many people’s palms sweat. Whether giving or receiving feedback, it often has a reputation as negative and momentous. But it doesn’t need to be. Certainly, feedback can include constructive criticism, but it can also include gratitude and acknowledgments of positive actions. Similarly, feedback can happen during formal annual reviews and promotion discussions, but it isn’t limited to those situations. In fact, real-time feedback…

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New Paid Leave Requirements for Chicago Employees Starting July 1 – What to Know and How to Prepare

Effective July 1, 2024, employers will need to comply with new paid leave requirements that apply to all Chicago employees (including those who work from home from Chicago). The Chicago City Council passed the Paid Leave and Paid Sick and Safe Leave Ordinance (“Paid Leave Ordinance”) on November 9, 2023. Although the ordinance’s new requirements originally were slated to go into effect on January 1, 2024, an amending ordinance delayed…

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