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Latest from O'Neil, Cannon, Hollman, DeJong & Laing S.C. Articles

In a move that could reshape the college sports landscape, the University of Wisconsin and its name, image and likeness collective, VC Connect, LLC, sued the University of Miami on Friday, alleging that Miami tampered with former Badgers football player Xavier Lucas and interfered with NIL contracts signed by Lucas.

This is believed to be the first lawsuit by an NCAA university seeking to enforce rights under an NIL contract with one of its athletes, and the outcome could…
Continue Reading Wisconsin’s NIL Lawsuit Against Miami Could Shake Up College Recruiting

The U.S. Fifth Circuit Court of Appeals reinstated a nationwide injunction on the reporting of beneficial ownership information under the Corporate Transparency Act. The injunction issued by a Texas federal court in early December had been overturned last week by a different Fifth Circuit panel.

For now, reporting companies are (again) no longer required to report beneficial ownership information, but reporting of beneficial ownership under the CTA could be required in the future.  The Fifth Circuit will hear arguments

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Continue Reading Corporate Transparency Act Blocked Again

On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit stayed a preliminary injunction of the Corporate Transparency Act. As a result, the U.S. federal government is again able to enforce the CTA, which includes the reporting of beneficial ownership information. Shortly after the Fifth Circuit issued the stay, the U.S. Financial Crimes Enforcement Network extended the filing deadlines for certain reporting companies to submit beneficial ownership information. The response to the Fifth Circuit’s decision by

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Continue Reading Corporate Transparency Act Reinstated With New Reporting Deadlines

On December 3, 2024, the U.S. District Court for the Eastern District of Texas granted a preliminary, nationwide injunction enjoining the United States federal government from enforcing the  Corporate Transparency Act (“CTA”), which includes the reporting of beneficial ownership information (“BOI Report”) to the U.S. Federal Crimes Enforcement Network (“FinCEN”). The court’s reasoning revolved around the constitutionality of the CTA. The immediate impact is that companies are, at least temporarily, no longer required to file a BOI Report with

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Continue Reading Corporate Transparency Act Injunction Alert

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Submitting a valid trademark application to the United States Patent and Trademark Office is a straightforward process with the right assistance. In general, submitting a successful application to the USPTO to register your trademark requires three central components.

Central Components of Trademark Applications

First, a trademark application requires a detailed description of the trademark. If the trademark is your business or product’s name in standard characters, comprised only of text not in a specific font nor stylized in any…
Continue Reading A Beginner’s Guide to Trademarks, Part 2: USPTO Trademark Application Requirements

Nearly one year after Tony Bennett’s death, his children are embroiled in a trust dispute. While Tony Bennett’s fame and prominence are unique, the nature of this dispute is common. In the filing, Tony Bennett’s two daughters accused their brother, Danny—who served as Tony’s manager and also serves as the trustee of the Family Trust—of managing their father’s trust for Danny’s own benefit and that of his company. The action seeks an order for a full accounting and inventory

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Continue Reading Navigating Trust Litigation: Insights from the Tony Bennett Case

What is a Trademark?

A trademark can be any mark representing words, phrases, symbols, designs, or a combination of these that identifies your goods or services. In practice, the most common trademarks are business names and logos. Trademarks accomplish several objectives. They (1) identify the source of your goods or services; (2) provide additional legal protection for your brand; and (3) help to guard against counterfeiting and fraud. Creative and unique trademarks are the most effective in accomplishing these

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Continue Reading A Beginner’s Guide to Trademarks: Part One — Trademark Basics

Effective January 1, 2024, the Corporate Transparency Act will apply to a significant number of United States business entities and owners. This pivotal legislation is not just another regulatory hurdle; it marks a significant shift in how businesses operate in terms of transparency and accountability. Every business owner needs to understand the CTA and its implications for their business. In this article, we delve into the requirements under the CTA, equipping you with much of what you need to

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Continue Reading Navigating the Corporate Transparency Act: A Must-Read for Every Business Owner

The sale of a Registered Investment Advisor (RIA) involves various critical considerations, with the purchase price being one of the most significant. In connection with the purchase price, the seller of an RIA will often encounter the concept of a contingent purchase price, commonly called an “earnout.” In a business acquisition, an earnout is a payment arrangement where (i) a portion of the consideration paid by the buyer to the seller is not delivered until after the closing and

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Continue Reading An Introduction to Earnouts for the Seller of a Registered Investment Advisor

In 2018, the “Queen of Soul” Aretha Franklin passed away, leaving behind four sons and a multimillion-dollar estate. Since this time, Franklin’s sons have been engaged in a fierce legal battle regarding the application of contradictory handwritten wills and the proper division of her assets. Recently, a jury in the probate court in Pontiac, Michigan decided that Franklin’s handwritten will drafted in 2014 revoked a previous handwritten will and will set forth how Franklin’s assets will be divided amongst…
Continue Reading A Michigan Jury R-E-S-P-E-C-Ts Aretha Franklin’s Wishes

The United States Attorney’s Office from the Southern District of Ohio recently issued a press release that highlights how elderly individuals suffering from dementia may be vulnerable to financial abuse. The press release can be found here.

As the release explains, the attorney defrauded his client—an elderly woman in her 80s—over the course of seven years, between 2012 and 2019. The attorney’s law license was revoked in 2015. The attorney stole the funds using a myriad of methods,

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Continue Reading Ex-Attorney Convicted of Stealing More Than $800,000 from Elderly Victim with Dementia

The Paycheck Protection Program has been commonly heralded as the foremost source of financial relief for businesses during COVID-19. However, the Employee Retention Credit or “ERC,” is a lesser-known replacement or supplement for PPP that has remained largely unleveraged by employers. Enacted in March of 2020 under the CARES Act, the ERC provides qualifying employers with tax relief and potential refundable tax credits for all or a portion of the 2020 and 2021 tax years, up to $26,000 per…
Continue Reading Employee Retention Credit (ERC): Maximizing COVID Relief by Supplementing PPP

Inheritance Disputes are Common Even Among the Wealthy

An inheritance dispute appears to be brewing following the recent death of Elvis Presley’s only child, Lisa Marie. According to various news outlets, Lisa Marie appointed her mother, Priscilla Presley, and her then manager, Barry Siegel, as co-trustees of her trust in 1993. Following Lisa Marie’s death on January 12, 2023, Priscilla discovered an amendment to the trust purportedly signed in 2016 that replaced both Priscilla and Barry Siegel as co-trustees.
Continue Reading The Recent Death of Lisa Marie Presley Leads to Brewing Trust Dispute

In April of 2022, Wisconsin passed new business entity laws, greatly impacting limited liability companies and their members, and largely overhauling and replacing Chapter 183 of the Wisconsin Statutes, which governs LLCs. This article will help you identify the key changes under the new LLC laws, as well as point you towards the next steps in preparing for this overhaul—including decisions to be made before year-end. For purposes of this article, we’ll refer to the new Chapter 183, the…
Continue Reading How Do Wisconsin’s New LLC Laws Impact My Company?

The circumstances involving Anne Heche’s estate are a stark reminder of the uncertainties that may exist following the death of a loved one and the issues that can arise even when someone thinks they have their estate plan in place.

Heche’s (Possible) Will

When the Emmy Award-winning actress died after a fiery car crash in August 2022, she left behind two sons. After her death, her former partner, James Tupper, the father of the younger of Heche’s sons, came…
Continue Reading Anne Heche’s Will Contest: A Cautionary Tale

On August 14, 1945, Life magazine photojournalist, Alfred Eisenstaedt, captured the spirit of the nation in his photo of a sailor embracing a nurse in New York’s Times Square. It was the end of World War II, and America was at the top of its game. Although the US had been late to enter the war, after the attack on Pearl Harbor on December 7, 1941, it was all-hands-on-deck. In his best-selling book, Tom Brokaw described the veterans and…
Continue Reading The Great Wealth Transfer and Its Implications on Estate, Trust, and Probate Litigation