In the battle against inefficiency, there’s a powerful yet simple principle that can revolutionize how you work: Parkinson’s Law. Coined by Cyril Northcote Parkinson in 1955, this deceptively straightforward concept reveals a profound truth about human productivity: work expands to fill the time available for its completion. The Time Trap: How We Sabotage Our […]
The legal profession, like many industries, has undergone a seismic shift since COVID-19 transformed how and where we work. Gone are the days when bustling law firm offices were the exclusive hubs of activity. Today, many attorneys and legal professionals find themselves working remotely, adopting hybrid schedules, or frequenting coworking spaces and coffee shops to […]
CTA Overview We wanted to provide you with recent updates on the Corporate Transparency Act (“CTA”). Under the CTA, FinCEN (the “Financial Crimes Enforcement Network of the U.S. Treasury”) is required to develop a nationwide database of private company “beneficial owners”. The CTA requires every company in the U.S. to file beneficial ownership information (BOI) […]
There is something powerful about a can-do attitude—I have noticed it time and again throughout my career. Conversations with people who bring optimism and energy feel like a different experience entirely. These discussions flow smoother, time seems to fly, and by the end, it feels like real progress was made. Not only that, but working […]
With Michigan contemplating reentry into the film and media production incentive landscape, it seems like a good time to visit the issue of production incentives. Michigan lawmakers have introduced the Multimedia Jobs Act (House Bills 4907 and 4908), a program designed to attract productions back to the state while capturing more of the benefits in […]
Change is a constant in both our personal and professional lives. Whether it’s adapting to new technology, tackling unfamiliar tasks, or navigating shifting industry landscapes, stepping outside your comfort zone often sparks the most significant growth. Embracing change is not just about adapting to the world around us, but about taking an active role in […]
Imagine this: A complex machine at a factory breaks down, and none of the workers can fix it. After countless failed attempts, they call in a highly recommended expert. The expert, with years of experience, calmly walks around the machine, evaluates it, and eventually taps a precise spot. Boom—the machine is up and running again. […]
In today’s fast-paced, ever-evolving professional world, understanding the unique strengths and behaviors of each team member is more important than ever. At Mavacy, we understand that growth goes beyond just honing skills; it is about providing individuals with the insights and tools they need to excel in their roles and advance their careers. To achieve […]
In the whirlwind of running a business, it’s easy to overlook some of the more mundane aspects of operations—contracts being one of them. Yet, contracts are foundational to business success and stability. A well-negotiated and carefully drafted contract clarifies relationships, expectations, and protects your business from significant risks. Conversely, a poorly constructed contract or oral […]
Some people just cannot be stopped. “The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” — George Bernard Shaw Most people hit speed bumps and slow down. Some people even stop. Some people keep going as […]
As trusted attorneys, we regularly help our clients with strategic planning and growth. Yet many times we neglect long-term business planning in our own professional lives, even though we should apply the same foresight to our practices. While we are dedicated to servicing our clients and ensuring their success, it’s equally important to prepare for […]
You should read for a reason, but hitting a number is not one of them. “The man who does not read has no advantage over the man who cannot read.” — Mark Twain Most people don’t read. Others might read for fun or pleasure. But most people do not read to grow. And maybe you have noticed […]
To the average moviegoer, credits may seem like a simple list of names scrolling at the beginning or end of a film—something to skip or ignore. However, for curious fans and industry insiders, they are much more impactful. Credits serve as career markers, signaling the contributions of the individuals behind the scenes and the relative […]
As a follow up to our blog post entitled “Corporate Transparency Act Overview” on July 18, 2024, today’s post focuses on some specifics about the Corporate Transparency Act that business owners will need to know as we enter into the final quarter of 2024. Changes to Due Date for Initial Report for New Business […]
In today’s fast-paced world, the key to sustained success in any organization lies in its ability to learn, adapt, and grow. At Mavacy, we firmly believe that fostering a growth mindset with a learning organization is not just a strategy—it is a core value that drives everything we do. By prioritizing personal and professional development, […]
We’ve all heard the phrase, “What we focus on expands.” But how often do we pause and really internalize what that means for our lives? Think about it: What you consistently focus on shapes your thoughts, beliefs, and ultimately your reality. If you focus on problems, you’ll find more problems. But if you focus on […]
You have gifts you don’t even think are gifts. “Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, vision cleared, ambition inspired, and success achieved.” — Helen Keller There is a debate Most people look at the world with a glass-half-empty mindset. They can’t see the […]
Launching a small business is like piloting a spaceship through an asteroid field of legal complexities. Let’s crunch some numbers: SBA data shows a 50% annual legal issue rate for small businesses. Visualize that as one in every two businesses you see. Zoom out globally, and the picture’s even more startling: small businesses shoulder a […]
You are not strictly a product of your past. “Your work is your own private megaphone to tell the world what you believe.” — Simon Sinek There is a debate going on in our society: nature vs. nurture, genes vs. environment, past vs. future. Most people never really think about what this means. They go about […]
Small and midsize businesses (SMBs) often face unique challenges that larger corporations can manage more easily due to their extensive resources. For SMBs, finding effective legal support is crucial but can be daunting without an in-house legal team. That’s where Mavacy comes in—offering tailored legal solutions that empower SMBs to tackle their legal needs confidently, […]
The 1-step process to win every interaction from now until forever “You only make a first impression once.” — Steve Jobs Many years ago, I learned a technique that has helped me more times than I can count. Most people never use this technique. They have never heard of it. The technique is not a […]
Behind the polished image of a successful attorney lies a demanding and often overwhelming reality. The legal profession, while rewarding, is fraught with unspoken challenges that can take a toll on well-being and work-life balance. From the relentless pressure to meet billable hours and the emotional weight of client issues to the long, unpredictable hours […]
Depending on discipline will always lead to failure. If you want to avoid losing, do this. As people, we all have been given the greatest gift: the gift of choice. When something happens to us, we can immediately react. However, we are not required to immediately react. There is a magical moment between every stimulus and […]
While the integration of artificial intelligence (“AI”) note-taking tools into legal practices promises enhanced efficiency and accuracy, it also brings forth significant legal and ethical challenges that must be addressed. Central to these concerns are the preservation of attorney-client privilege, data security, and compliance with privacy regulations. Here, we explore these concerns, and the existing […]
In the 1950s, theaters were more than just venues for watching movies—they were cultural landmarks where people gathered to engage with the narratives shaping society. The exclusivity of the theatrical experience – at a time where television was the only real alternative medium (and secondary market for films) – ensured the cultural significance of theaters. […]
Generative Artificial Intelligence is quickly becoming the most transformative force in media and entertainment since the advent of broadband Internet. Content creators now find themselves in an era where the pace of technological innovation is running laps around a legal system that has always struggled to keep up, creating a dynamic and precarious landscape for […]
As a business owner, you rely on your lawyer for sound advice on various legal and business matters. However, may be instances when the guidance you receive falls short of your expectations. It’s crucial to distinguish between a a misinformed opinion and potential malpractice. Here’s how to distinguish between well-intentioned guidance and a genuine lapse […]
Defining Legacy What do you want to be remembered for? At Mavacy, we believe a legacy is more than just a footnote in history—it’s the enduring influence or contribution you leave behind. It’s your indelible mark on the world, shaping the future through your innovative actions, decisions, and approaches that set you apart from the […]
Embracing the Distributed Model in the Legal Industry:How It Works and Its Benefits Traditionally known for its buttoned-up and centralized ways, the legal industry is undergoing a much-needed shake-up by adopting the distributed work model. This game-changing approach leverages technology to free lawyers and legal staff from the confines of a single office, allowing them […]
The Origin of the Maverick The term “maverick” originates in the 19th century and is linked to Samuel Maverick, a Texas rancher known for his unorthodox approach to cattle ranching. Maverick did not brand his cattle, unlike his contemporaries, which was essential for identifying ownership. His refusal to conform to this standard made his cattle […]
Share the Post: In an ever-evolving legal landscape, law firms are discovering that success is not solely defined by the cases they win or the revenue they generate. The foundation of a thriving law firm often lies in its core values—guiding principles that influence the firm’s culture, decision-making, and relationships. In this article, we explore […]
Stephen R. Covey’s book, “The 7 Habits of Highly Effective People,” stands as one of the most influential self-help guides for professionals. These habits extend beyond personal development into the professional realm, proving especially beneficial for service providers like lawyers. By embracing these habits, lawyers can elevate their careers and enhance the services they offer […]
In today’s busy world, finding ways to be more productive, happier, and less stressed is crucial. The power of routines and daily habits can change your life. Here’s how – Boosting Productivity Making Tasks Easier: Think of your brain as a machine that works best with routines. When tasks become habits, they require less […]
As attorneys, we dedicate our careers to serving our clients, upholding justice, and ensuring that the rule of law prevails. However, we must also prepare for the inevitable transitions in our professional lives. Unfortunately, so many attorneys fail to think about this – similar to the proverbial tale of the cobblers kid’s shoes being the […]
This article is part of a series of articles regarding the Corporate Transparency Act (“CTA”). You may have recently heard a lot about the CTA, this article highlights some of the frequently asked questions we receive regarding the CTA. What is the CTA? In 2020, Congress passed the Corporate Transparency Act (“CTA”). Under the CTA, […]
In the world of law, the image of the high-powered attorney effortlessly juggling cases while living a life of luxury is a common trope. However, the reality is far less glamorous. The practice of law is often grueling, taking a heavy toll on lawyers’ well-being and, consequently, the quality of service they provide to their […]
Most people go through life without doing anything really hard. Sometimes the low-hanging fruit is the only fruit that we end up picking. But what about the hard things — the things that seem almost impossible? Should we try to do them? And if we try, will we be able to actually do them? Should we be […]
There is one trait that is in demand, nearly everywhere and in every arena. Though it doesn’t have much flash or sizzle, it is the bedrock of all great leadership. It is the one ball, that if dropped, doesn’t bounce. It breaks. It is the glue of every relationship, organization, and endeavor. It needs constant […]
When Henry Kissinger served as the Secretary of State in the United States, a new analyst started at the state department. The young analyst spent an incredible amount of time drafting a report. After working hard, he left the report for Mr. Kissinger. Later that day, Kissinger left the report on his desk, with a […]
Photo by Bogomil Mihaylov on Unsplash Share the Post: Opportunity is everywhere. And there isn’t a part of the world that would not benefit from innovative thinking. That’s why we need entrepreneurs. But entrepreneurs also need people as well. They need customers. They need teammates. And yes, sometimes they need lawyers. Some may think that […]
The S Corporation, commonly known as an S Corp, stands out as a business structure that combines the advantages of pass-through taxation with the liability protection inherent in a corporation. In this article, we’ll delve into what defines an S Corporation, explore its constraints, and highlight scenarios where opting for an S Corp might be […]
Raising capital, often overlooked yet pivotal for businesses, involves navigating a landscape governed by securities regulations. Within this realm, the term “blue sky filings” holds significant weight, especially for companies intending to offer securities to the public. Understanding what these filings entail, their criticality, and the consequences of delayed submissions is paramount for businesses. Decoding […]
Raising capital is a pivotal step for many businesses, particularly startups and early-stage companies. However, navigating the complexities of capital raising, especially under regulatory frameworks like Rule 506 of the United States Securities Act of 1933, demands careful attention from founders. Let’s delve into Rule 506 and underscore the significance of proper securities filing for […]
Starting a business is an exciting venture and forming a Limited Liability Company (LLC) is one of the most popular ways to structure a business. An LLC offers a blend of liability protection, flexibility, and tax advantages, making it an attractive option for entrepreneurs. However, setting up an LLC requires careful consideration of various factors […]
Understanding Equity Compensation: A Comprehensive Guide Ever wondered how you could become a part-owner of the company you work for? Equity compensation might be your answer! Particularly prevalent in the technology and startup sectors, equity compensation is a key component of many employment agreements. What is Equity Compensation? Equity compensation involves granting ownership […]
Navigating Equity Grants and Section 83(b) Elections for Startups When launching a business, it is common for founders and employees to receive equity grants and stock options as part of their compensation packages. These equity incentives allow recipients to share in the company’s growth and success. However, understanding the tax implications of equity grants and […]
For privately held companies, raising capital is a crucial step towards achieving growth, expanding operations, and meeting long-term goals. However, this process can be fraught with challenges and regulatory complexities. In this article, we delve into the critical factors influencing a privately held company’s fundraising efforts and the guidelines for compensating individuals who assist in […]
Are you thinking about selling your business? Deciding to part with a company you’ve nurtured and built over the years is a significant decision. Whether you’re a seasoned entrepreneur ready for retirement or a business owner seeking new opportunities, selling a business requires careful consideration and expert guidance. While you may excel at running your […]
When founding or joining a company, grasping the complexities of ownership structure, equity allocation, and the implications of ownership changes is essential. Defining the Ownership Structure The initial step in any business venture is establishing the ownership structure. This framework determines how the company will be governed and who will hold control. Each ownership […]
Why Many Startups Choose Delaware for Incorporation Many startups are encouraged to incorporate in Delaware due to the state’s well-established corporate laws and renowned court system specializing in corporate matters. Additionally, Delaware does not levy a state income tax on corporations that are incorporated but not conducting business within its borders. However, this does not […]
