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Should we hire an HOA management company?
This content has been archived. It may no longer be relevantQ: The residents of our condo complex want to hire a property manager for our complex. The HOA’s board of directors does not want to hire a property manager, saying it will cost too much. Our opinion is that the board is not managing our…
The Weekly Scenario from Steve Shane – 5.6.13
Question: My husband recently received an IRA from his mother who recently passed away. What are the rules surrounding inherited IRAs? Answer: The rules surrounding inherited IRAs can be tricky but generally speaking, when a person inherits an IRA, the inherited beneficiary must begin to take distributions the year after the owner dies by December…
“Don’t assume that only money makes people happy.” Source: Ross McCammon, “Less is more: The Esquire guy serves up a lesson on what not to do,” Entrepreneur, May 2013.
Friday Factoid – 5.3.13
In 1790, Samuel Hopkins of Philadelphia was issued the first U.S. patent. The patent related to a method of making soap. Source: http://www.me.utexas.edu/~longoria/paynter/hmp/The_First_Patent.html
“A leader sees greatness in other people. You can’t be much of a leader if all you see is yourself.” – Maya Angelou Source: “Life’s Work,” Interview with Maya Angelou by Allison Beard, Harvard Business Review, May 2013.
Friday Factoid – 4.26.13
According to a study published in April 2013, 82% of trademark applications prepared by an attorney received preliminary approval from the USPTO, whereas only 60% of the applications prepared without an attorney received such approval. Source: http://newsandinsight.thomsonreuters.com/Legal/News/2013/04_-_April/When_it_comes_to_trademark_applications,_lawyers_matter_-_study/
M & A: SELL SIDE RULES RULE #1 – You have not sold your business until you have sold your business. RULE #2 – Get your money upfront, as soon as possible, and as much as possible. RULE #3 – Reduce and eliminate your trailing liabilities. Source: Michael N. Mercurio, M & A Advisory, “Sell…
Friday Factoid – 4.12.13
According to a recent USPTO report, in 2010 average weekly wages for private sector jobs in IP-intensive industries were 42% higher than average weekly wages for such jobs in non-IP-intensive industries. More specifically, wages for patent industry jobs were 73% higher and wages for copyright industry jobs were 77% higher than comparable average weekly wages…
Friday Factoid – 4.19.13
Several show business celebrities (including Eddie Van Halen, Zeppo Marx, Penn Gillette, Marlon Brando and Lawrence Welk) created inventions that received patents from the USPTO. Source: http://www.ironicsans.com/2007/01/celebrity_patents.html
HOA Board Director, Officer, or Both?
Q: Can a homeowners’ association (HOA) board of directors change the term served by the officers by a resolution, without a vote of the members? Our bylaws state that officers are appointed by the board for a one-year term, yet our officers are serving for three years. When I asked the board about this practice,…