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March 25, 2011

Lawyers and doctors in the past often have conducted their businesses through corporations known as professional corporations. Such corporations served dual purposes: to shield the lawyer or doctor from personal liability for the debts and liabilities of the person's professional practice and to obtain a corporate tax rate on profits of the business that in the past were lower than rates on individual income.

March 25, 2011

Under Section 807 of The Sarbanes-Oxley Act of 2002 (Act), any person who knowingly commits securities fraud is subject to a hefty fine, a prison term of up to 25 years, or both. Section 807 does not criminalize securities laws violations for the first time; however, it does combine several existing laws so as to facilitate and streamline federal prosecutions. Section 807 does impose significantly harsher criminal penalties than the penalties prescribed under prior laws.

March 25, 2011

The Safe Drinking Water Act provides protection for whistleblower-employees who file claims under the statute. Section 1450 of the statute provides:

March 25, 2011

Common stock and other securities may be issued with or without a stated face value or "par" value. Par value is a nominal value of a security which is determined by an issuer company at a minimum price. Issuing stock with or without par or face value may have several consequences.

March 25, 2011

Employers have a general duty under the Occupational Safety and Health Act (OSHA) to provide a workplace free from "recognized" hazards. A violation of this duty can lead to criminal sanctions in addition to civil penalties. An employer can also be exposed to liability under occupational safety and health regulations promulgated by the Secretary of the Department of Labor. Directors and high-level executive officers must act to reduce or eliminate workplace dangers or risk OSHA liability.