Business Law and Corporate Law

National security investing is attracting capital, yet it remains poorly defined as an investment category. Global venture investment in defense technology rose 75 percent from 2024 to 2025, while private funds...

Lowenstein partners Laura Cicirelli and Eric Weiner examine how valuation and cap table mathematics affect founders throughout their company's lifecycle, walking through equity incentive pools, convertible securities, pre-money and post-money valuations, and priced equity rounds. The discussion reveals why founders must look beyond headline valuations in term sheets to understand how today's cap table decisions shape future fundraising, incentives, and long-term growth.

LEA Technologies deploys autonomous document and data agents that help registered investment advisers eliminate clerical work and deliver clean, structured data into their core systems. The company's solution integrates directly into existing enterprise platforms, enabling firms to automate investment proposals, client onboarding, and financial planning while achieving unprecedented operational scale.

The U.S. Department of the Treasury announced a major transparency initiative on April 23, 2026, that could lead to expanded reporting requirements for tax-exempt organizations.

Florida's revised Nonprofit Corporation Act introduces significant changes to governance structures, conflict-of-interest provisions, and merger rules for nonprofit organizations. The legislation modernizes state law by aligning it with the ABA's Model Nonprofit Corporation Act, affecting everything from board composition requirements to liability protections for directors and officers. These changes provide greater operational flexibility while establishing new frameworks for member rights, derivative acti

McDermott Will & Schulte’s Family Office Symposium 2026 brought together more than 425 single-family office executives and industry leaders for insightful conversations, shared perspectives, and meaningful connections.

This Advisory is a companion to our June 2026 Advisory on the proposed rule (Docket No. USDA-2026-0001; RIN 0560-AI70) published by the U.S. Department of Agriculture (USDA) on June 25, 2026, that would, if finalized in its current form, make significant changes to the Agricultural Foreign Investment Disclosure Act (AFIDA). Here, we focus more closely on the proposed expanded definition of “foreign persons” subject to filing requirements under AFIDA.

The Pension Benefit Guaranty Corporation has issued guidance clarifying when annuity buyouts trigger mandatory reporting requirements under ERISA's active participant headcount reduction rules. This opinion addresses a critical question for plan administrators managing frozen defined benefit plans with active employees who are no longer accruing benefits.

Redemption agreements in closely held LLCs and limited partnerships involve far more than simple valuation calculations. The negotiation centers on timing, leverage, economic cutoffs, payment risk, indemnification exposure, and achieving true finality when a partner exits. This analysis examines how these agreements function as risk-allocation instruments that determine whether separation delivers closure or merely postpones conflict.

Louis Lehot is a legal professional whose contact information and professional headshot are featured on Foley's website. His email address is provided for direct communication regarding legal matters and professional inquiries.

Last Spring, we provided an overview of the Texas Stock Exchange. One year later, the Exchange has clearly moved from concept to reality, following its June 27, 2026 Final Confidence Test and the launch of phased trading in July. The key question now is whether the Exchange can scale smoothly, attract listings, and build meaningful liquidity as it expands through 2026 and into 2027.

This Advisory is a companion to our June 2026 Advisory on the proposed rule (Docket No. USDA-2026-0001; RIN 0560-AI70) published by the U.S. Department of Agriculture (USDA) on June 25, 2026, that would, if finalized in its current form, make significant changes to the Agricultural Foreign Investment Disclosure Act (AFIDA). Here, we focus more closely on the proposed expanded definition of “foreign persons” subject to filing requirements under AFIDA.