Compliance Stuff

Across all industries, private companies, family offices, and their owners and management teams face rapidly evolving challenges, opportunities, and risks in the dynamic environment that is 2025 . Here are 11 issues that family offices and the owners and leaders of privately held companies should consider and be mindful of this year. 1. Mergers and Acquisition Landscape Much like 2024’s mergers and acquisitions (M&A) market, there continues to be a significant demand for deals due to pent-up undeployed capital and increased interest from financial sponsors. This includes increased interest from sell-side financial sponsors in selling private companies held by their early-vintage funds in order to open up opportunities to launch new fundraising endeavors. However, in evaluating potential M&A transactions, private companies (buyers in particular) will need to navigate a complex regulatory environment. Regulatory changes from the Trump Administration could spur significant M...

On July 23, 2024, Pennsylvania Governor Josh Shapiro signed the Fair Contracting for Health Care Practitioners Act (the “Act”), which bans certain noncompete covenants, including patient nonsolicitation provisions, between an employer and health care practitioner if the covenant is more than one year or the health care practitioner was “dismissed by the employer.”  The effective date of the Act is January 1, 2025. The Act’s Key Provisions The Act renders void and unenforceable any covenant between an employer and health care practitioner “which has the effect of impeding the ability of the health care practitioner to continue treating patients or accepting new patients.”   The Act, however, includes a key exception: it permits covenants that are no more than one year and where the health care practitioner was “not dismissed by the employer.”   Therefore, covenants will remain enforceable if (1) the covenant lasts no more than one year and (2) the health care practitioner...