Aggrieved parties have long been able to sue in federal court for copyright, patent, and trademark violations. Surprisingly, no corresponding private cause of action has existed for trade secret theft. Instead, trade secret cases were the domain of state courts.

When most people think of waterfalls, the first thing that comes to mind is likely Niagara or Victoria. Waterfalls in the legal sense are not nearly as breathtaking or awe-inspiring as these natural curtains of water. Nonetheless, when properly drafted, a distribution waterfall in an operating agreement is a fairly impressive provision.

If there was ever any doubt, the U.S. Tax Court has recently clarified that the sole member of a single member LLC can, in certain circumstances, be held liable for the employment tax liability of the entity.