Phantom Stock – Why Private Cannabis Companies Should Take Note
Privately held cannabis companies might want to give serious consideration to awarding their employees “phantom stock” rather than equity options. Working so close to Silicon
Ongoing effective workforce management is central to the success of any business. From offer letters and employment agreements, to employee handbooks and company policies, to separation and release agreements and settlement agreements, every business needs to implement effective strategies to maintain a productive, positive, and efficient team throughout the employment lifecycle from onboarding to exit. Businesses also must protect their confidential and proprietary information and set clear expectations, rules, and guidelines for their operations and for their service providers.
Contact us today to set up a consultation and discover how our expertise can benefit you.
Effective workforce management is central to the success of any business. From offer letters and employment agreements to severance and release agreements, every business needs to implement effective strategies to maintain a productive, positive, and efficient team. Businesses also need to protect their confidential and proprietary information and set clear policies for the organization and its members to abide by. At Rogoway Law Group, our attorneys work with employers across a variety of industries to mitigate employer liability and to protect their businesses and incentivize their workforce. We additionally often represent executives in negotiation of executive employment packages.
From the initial stages of workforce planning to resolving critical employment disputes, managing a workforce in today’s complex regulatory environment can be challenging. At Rogoway Law, we provide a comprehensive range of services designed to help businesses manage their workforce effectively, mitigate risk, and ensure compliance with relevant laws and regulations. Our experienced labor and employment lawyers guide clients through every aspect of the employment relationship, from hiring to termination. Here’s how we can support your business:
We create customized employment handbooks and policies tailored to your business, addressing critical areas such as workplace conduct, attendance and leave policies, health and safety, and grievance procedures. These handbooks help ensure compliance with federal, state, and local employment laws, fostering a positive work environment.
Workforce agreements serve as the foundation of the employer-employee relationship, outlining the terms, conditions, and expectations for both parties. At Rogoway Law, our legal team specializes in crafting comprehensive workforce agreements tailored to the unique needs of your business. From defining job roles and responsibilities to setting out compensation terms, to implementing policies on confidentiality and non-disclosure, we ensure that your workforce agreements protect your business interests while complying with the evolving landscape of labor laws.
We provide guidance on designing and implementing executive compensation plans, including equity incentive plans, award agreements, restricted stock units, and bonus plans. Our expertise ensures that compensation structures align with your company’s goals and regulatory requirements.
Facing a Labor Commissioner investigation can be a daunting prospect for any business. These investigations can arise from a variety of issues, such as wage and hour disputes, claims of discrimination or harassment, or health and safety violations. At Rogoway Law, we provide strategic guidance and representation throughout the investigative process. We assist with preparing documentation, responding to inquiries, negotiating resolutions, and, if necessary, representing your business in hearings before the Labor Commissioner. Our goal is to minimize the potential impact of these investigations on your business, ensuring compliance, and maintaining your business reputation.
Our team helps clients identify and manage employment-related risks, advising on best practices to prevent disputes, ensure compliance, and safeguard the business from potential legal liabilities.
In the complex world of labor and employment law, maintaining regulatory compliance is essential to avoid costly fines, lawsuits, and damage to your business reputation. Our team of labor and employment lawyers at Rogoway Law are well-versed in federal, state, local, and industry-specific employment laws and regulations. We assist your business in implementing and maintaining compliance programs, from drafting policies and procedures, to conducting audits, to providing employee training. Whether you are a small start-up or a large corporation, we ensure that your business operations align with the latest regulatory requirements, reducing risk and fostering a productive and lawful workplace.
We develop and deliver customized employee training programs designed to educate staff on their rights and responsibilities under applicable employment laws. Topics may include workplace safety, discrimination and harassment prevention, and wage and hour compliance.
Our attorneys conduct comprehensive employment law audits to identify potential areas of non-compliance and recommend corrective actions to ensure regulatory adherence.
We advise clients on best practices for safeguarding employee privacy and maintaining data security, including the development of privacy policies, data breach response plans, and compliance with applicable privacy regulations.
Wage and hour laws govern essential aspects of employment, such as minimum wage, overtime pay, meal and rest breaks, and employee classification. Non-compliance can lead to costly disputes and potential legal liabilities. Our team at Rogoway Law provides comprehensive guidance on wage and hour laws, ensuring your policies and practices are compliant. We assist in auditing your current practices, developing robust compliance strategies, and defending against wage and hour disputes. Our goal is to help you mitigate risks and maintain a fair and compliant workplace.
Workplace discrimination and harassment can have severe consequences, affecting employee morale, productivity, and potentially leading to legal liabilities. At Rogoway Law, we assist businesses in creating an inclusive and respectful work environment. Our labor and employment lawyers provide advice on implementing policies, procedures, and training that promote diversity, inclusion, and respect while preventing unlawful discrimination and harassment. We also represent employers in investigations and litigation related to claims of discrimination and harassment, providing vigorous defense and working towards favorable resolutions.
Negotiating with labor unions and managing labor relations can be a complex and sensitive process. Our team of experienced labor and employment lawyers at Rogoway Law represents employers in all aspects of labor union negotiations, including collective bargaining agreements, labor peace agreements, labor disputes, and unfair labor practice claims. We strive to protect your interests while maintaining positive relations with unions, helping you navigate these interactions with confidence and precision.
We draft and review consulting agreements, ensuring proper classification of independent contractors and compliance with employment laws.
We help clients protect their intellectual property rights by drafting and negotiating IP assignments, non-disclosure agreements, and confidentiality agreements.
Confidentiality and non-disclosure agreements (NDAs) are fundamental in protecting your sensitive business information from unauthorized disclosure. Whether you’re discussing a potential business partnership, hiring a new employee, or engaging with contractors, an NDA can help secure your proprietary information. Our attorneys at Rogoway Law draft robust NDAs tailored to your specific needs, ensuring your trade secrets, customer data, business strategies, and other confidential information remain secure.
Option and bonus plans are key tools for attracting and retaining top talent in your business. They provide your employees with a share in the success of the business and motivate them to contribute to its growth. Our labor and employment lawyers at Rogoway Law have extensive experience in designing and implementing various types of equity compensation plans, including stock options, restricted stock units, and bonus plans. We help you navigate the legal, tax, and regulatory implications of these plans, ensuring they align with your business goals while remaining compliant with applicable laws.
Our attorneys advise clients on diversity, equity, and inclusion (DEI) and environmental, social, and governance (ESG) matters, helping them develop and implement policies and practices that promote a diverse and inclusive workplace and align with corporate social responsibility objectives.
Properly managing employee discipline is critical in maintaining a productive work environment and mitigating legal risks. Our team at Rogoway Law advises businesses on creating and implementing effective disciplinary policies. We provide guidance on how to conduct fair and impartial disciplinary actions, how to document these actions appropriately, and how to manage performance issues in compliance with relevant employment laws. We also assist with discipline-related disputes, helping to protect your business from potential legal repercussions.
Terminating an employee relationship can be fraught with legal complexities. Rogoway Law’s team provides expert advice on the legal aspects of termination, including understanding and complying with laws regarding wrongful termination, at-will employment, and protected classes. We help businesses develop and implement termination policies and procedures, draft and negotiate severance agreements, and counsel on potential risks and liabilities associated with termination. We also assist with disputes that may arise during or after the termination process, including claims of wrongful termination or discrimination.
Navigating the complexities of labor and employment law can be challenging. At Rogoway Law, we offer a complimentary consultation to discuss how we can support your business. Our dedicated team of labor and employment lawyers is ready to help you navigate these complexities, ensuring your business remains compliant and protected. Contact us to schedule your consultation today.
Privately held cannabis companies might want to give serious consideration to awarding their employees “phantom stock” rather than equity options. Working so close to Silicon
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* Rogoway Law Group, P.C. and Rogoway Law N.W. P.C. are part of the Rogoway Group, a Swiss Verein.