Business Law and Corporate Law

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.

This comprehensive guide explores the landscape of small business acquisitions in the United States, detailing where prospective buyers can discover purchase opportunities and what distinguishes small businesses from closely-held enterprises. The article examines the role of SBA classifications, government-backed financing options, and the various channels through which business sales occur, from familiar buyer relationships to broker-facilitated transactions.

Disney's acquisition of Hulu exemplifies a recurring challenge in joint ventures: commercial conflicts between shareholders that ultimately force restructuring. This collection explores how organizations navigate strategic partnerships, operational conflicts, and value creation across industries from manufacturing to financial services, while examining the evolving landscape of corporate growth strategies and risk management.

The Umbrella Partnership-C Corporation structure has evolved from a niche tax-efficient IPO vehicle into a mainstream mechanism for pre-IPO insiders seeking liquidity while preserving partnership tax treatment. However, the same structural features that make Up-Cs economically attractive may create recurring dilution issues when insiders influence tax distributions or liquidity flows between the private operating partnership and public corporation.

Facing complex legal matters such as insurance claims, shareholder disputes, and commercial contracts requires specialized expertise to achieve favorable results. Without proper legal guidance, businesses and individuals risk costly mistakes and unfavorable outcomes that could have lasting consequences.

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 EEOC has rescinded decades-old guidance on voluntary affirmative action under Title VII, removing the administrative framework employers relied upon to evaluate diversity programs. This development raises critical questions about the future of workplace DEI initiatives and signals heightened scrutiny of employment practices that consider protected characteristics in decision-making.

The EEOC has rescinded its 1979 guidance on affirmative action plans under Title VII, eliminating decades-old protections for employers implementing workplace diversity programs. This withdrawal signals heightened federal scrutiny of policies considering race, sex, or other protected characteristics, fundamentally altering the legal landscape for workplace affirmative action.

Alexis Robertson is a legal professional at Foley specializing in corporate law matters. Her practice focuses on providing strategic counsel to clients navigating complex business transactions and regulatory challenges. Contact information and professional credentials are available for consultation.