Bassey and Selesko, PLC. - Untitled 1

An Introduction to Corporations

Various structures are available for a business. A business may be set up, owned, and run as a sole proprietorship, a partnership (limited or general), or a corporation (regular, Subchapter S, or limited liability).

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Interlocking Directorates

Section 8 of the Clayton Act, 15 U.S.C.S. § 19, prohibits corporations from having the same directors or officers in some instances. Thus, under Section 8, a person may not serve as an officer or director of two non-bank corporations if one...

Initial Public Offerings and Lockup Agreements

A lockup agreement is a contract between an underwriter and a company going public in which the insiders of the company, including directors, officers, employees, and friends and family agree that they will not sell shares of the company they own...

Exchange-Traded Funds

Exchange-traded funds are open-ended registered investment companies regulated by the Securities and Exchange Commission under the Investment Company Act of 1940. The Securities and Exchange Commission has exempted exchange-traded funds from...

Premerger Second Requests for Information

Parties to mergers or acquisitions involving sales or assets of $200 million or meeting other threshold levels must report their planned merger or acquisition to the Department of Justice or the Federal Trade Commission and wait for 30 days (15...