Chicago Franchise Attorneys & Lawyers

What Is an Incumbency Certificate?

An incumbency certificate is an official document that identifies and authorizes certain people to agree to and execute legally binding agreements on behalf of a corporation.

The incumbency certificate may be requested by another party to confirm that the person has the right to enter a binding agreement with the corporation. It may also be used in this case as a way to confirm and guarantee the signer's identity.

The incumbency certificate can also be used to identify the current directors, officers, and possibly, shareholders of the company. The certificate states who holds which positions within the company.

The people listed on the incumbency certificate are typically the chief executive officer and the chief financial officer. The incumbency certificate of a company is typi

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Updated October 28, 2020:

Startups have one big advantage in attracting talent. While big companies can offer big paychecks and great benefits, startups can offer employees the chance at becoming very rich through sharing company ownership. Here is an introduction to the methods companies use to decide how to split up equity fairly between the founders and employees at early-stage startups.

There are as many different opinions about how to structure an equity split for a startup company as there are startups. It is always a good idea to seek out the advice of experienced professionals before finalizing any equity split agreement.

What Is an Equity Split?

Equity refers to non-cash compensation that represents partial ownership in a company. The equity is usually

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The Health Insurance Portability and Accountability Act (HIPAA) was enacted in 1996 to protect workers and their families by limiting new employers from excluding coverage for preexisting conditions, banning discrimination against employees and their dependent family members based on any preexisting conditions, and providing new rights to individuals who lose their coverage to enroll in a group health plan.

HIPAA also protects patients’ paper and electronically stored medical information through the Privacy Rule and the Security Rule, which were implemented by the U.S. Department of Health and Human Services (HHS).

HIPAA Violation Enforcement

The HHS, Office for Civil Rights (OCR) is the HIPAA enforcement agen

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Updated November 10, 2020:

The Delaware LLC Act governs the limited liability company structure in Delaware. The structure is essentially a hybrid of the best features of both corporations and partnerships and the owners are called “members.” If you incorporate under the Delaware LLC Act, you do not need to have an operating agreement, though you may have an agreement that governs some of the affairs of the limited liability company. Delaware has some of the strongest protections from liabi

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Many are unaware about the different types of bankruptcy they could be filing for. We’ve heard about the different chapters but don’t know which exactly would fit our needs best. The chapter just refers to the chapter the specific type of bankruptcy is located in Title 13 of the United States Bankruptcy Code.  

Chapter 13 bankruptcy is sometimes referred to as “reorganization” bankruptcy for individuals.

How is Chapter 13 different than Chapter 7?

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