Passing the torch

Article Abstract:

Many organizational and estate planning tactics can help family business owners ensure an orderly succession. Business owners should keep the business in the family, treat all children fairly, ensure good management and minimize taxes. Gifts, life insurance, and the deferral of taxes can save tax money. Amicable relationships between family members are more likely with techniques including some family members becoming made landlords, buy-sell agreements, and trusts and partnerships to exclude outsiders. The key for lawyers is to listen carefully to clients and individualize a plan.

Methods, Finance, Estate planning, Family-owned business enterprises, Family-owned businesses

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Disappearing data; that CD-ROM may self-destruct if you don't check the expiration date

Article Abstract:

Many CD-ROMs are, unlike books, solely licenses to use the information for a certain period of time. Books can be used in perpetuity and updated with supplements, but many CD-ROMs expire and become unreadable on a certain date, calling for the purchase of a more recent product. The West Group, formerly a law book publisher and now firmly in the electronics age, is reviewing its CD-ROM policies. Their first policy was licensing CD-ROMS to lawyers rather than a sale. Lawyers could cancel their subscriptions if they decided against renewal, but this meant giving up Westlaw rights too.

Licensing agreements, CD-ROM databases

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Identity thieves

Article Abstract:

Identity theft is a growing criminal enterprise which in 1997 cost consumers and financial institutions some $745 mil. The key piece of information for identity thieves is the victim's Social Security number, widely available on credit reports. Thieves steal from victims' mail for dig out from their garbage. With prompting from victims, the Senate Judiciary Committee introduced the Identity Theft and Assumption Deterrence Act in 1997, making this crime a federal felony with sentences of up to 15 years in prison.

Laws, regulations and rules, Consumer credit

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