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Business & Corporate Law Section works to engage members
SHERRY KARABIN
Legal News Reporter
Published: August 14, 2015
While those at the helm of many Akron Bar Association committees and sections are working to beef up member numbers, Business and Corporate Law Section Chair Elizabeth Yeargin has a different goal.
She’s aiming to get more of the section’s 126 members to become active participants.
“We have a large member count, but only a small number of people show up at meetings or take advantage of our CLE (continuing legal education) opportunities,” said Yeargin, who joined the section in 2005 after graduating from The University of Akron School of Law.
“Many of our members are from big firms and their accounting departments automatically renew them even if they are inactive,” said Yeargin, a partner at Brouse McDowell, who handles matters ranging from corporate and commercial to real estate law.
In fact, Yeargin herself only began taking a hands-on role in the section about two years ago.
The section usually holds its meetings on the fourth Monday of each month with the exception of December, July and August. The meetings begin around 11:45 a.m. at the Akron Bar Association.
Vice-chair Jaclyn Palumbo, 25, is new to the profession as well as the section.
A native of Youngstown, Palumbo joined the bar association and the section in November 2014 after graduating from The University of Akron School of Law.
Although her focus is criminal defense, guardian ad litem work and estate planning, she said the Business and Corporate Law Section has allowed her to expand her breadth of knowledge.
In addition to the CLEs, Palumbo said the fact that a number of members are not active in the section’s leadership has allowed her to obtain a position on the executive committee.
As a new member, I would be unlikely to get the chance to serve as vice-chair,” said Palumbo, an attorney at the Palumbo Law Office in Akron. “I am not only getting some invaluable experience, I am getting the chance to lead and learn under the guidance of a more experienced attorney like Libby.”
Palumbo and Yeargin first became acquainted through the Akron Bar Association Law School Liaison Committee mentoring program, which works in conjunction with The University of Akron to match law students with senior attorneys.
“I was Jaclyn’s mentor,” said Yeargin. “I encouraged her to join the section to expand her connections.”
Currently, the executive committee includes Yeargin and Palumbo. There is no secretary/treasurer.
“This is due to the lack of participation,” said Yeargin. “We are hoping to fill the spot in the fall.”
The two are planning a number of changes aimed at getting more members to become engaged.
For example, Yeargin said in the past all the meetings included a CLE presentation.
“We are going to replace some of these CLEs with social events and strategy meetings,” said Yeargin. “We are planning on three CLEs this fall and one three-hour CLE seminar in the spring.
“We are lengthening the time for the individual CLEs from 60 minutes to 90 minutes in order to get more content in at each session.”
In addition, Yeargin said last year the section began allowing members to participate in planning meetings via conference calls. Currently video teleconferencing options are being explored.
“The bar association has been researching different technologies to see how we can bring content and events to our members without them having to come to us,” said Thomas Christos Petropoulos, coordinator of member engagement at the Akron Bar Association.
“Part of our strategic planning involves the use of social media and creating virtual communities on LinkedIn.”
Longtime section member and former chair Christopher Niekamp is among those active in the group.
A partner at Niekamp, Weisensell, Mutersbaugh & Mastrantonio, he handles commercial, corporate and business matters and represents numerous financial institutions.
“Litigators see each other in court a lot more than business attorneys do,” said Niekamp. “So it’s important for corporate lawyers to get together and exchange ideas and network.”
On Oct. 21, Niekamp and local taxpayer advocate Susan Morgenstern will present a Corporate and Business Law Section CLE seminar at the Akron Bar Association that focuses on addressing risks and legal issues associated with payroll services and fraud and conversion.
Morgenstern works at Taxpayer Advocate Service in Cleveland, an independent organization within the Internal Revenue Service that reports directly to Congress through the National Taxpayer Advocate.
“Small businesses that rely on independent small payroll tax companies are often unaware of the potential exposure,” said Niekamp
“These companies are supposed to calculate your payroll taxes that need to be withheld and then collect and make the payments to the IRS and other taxing authorities,” said Niekamp.
“If these payroll businesses get into financial trouble, they often tap into client funds to cover operating costs or personal bills. It can take several months before the IRS notifies a company that it is delinquent, and when they do the taxpayer entity and principals will still be held responsible for these taxes.”
Niekamp said he is currently representing the court-appointed receiver in Raymond M. Powell Co., LPA v. Akron Payroll & Tax Inc.
“A number of companies were burned by Akron Payroll. The principal was sentenced to 59 months in prison and creditors have filed claims in excess of $450,000.
“Part of what Susan will talk about at the seminar are the options and potential IRS relief that businesses can pursue in these tough situations like the Akron Payroll case,” said Niekamp. “It is very important that all small businesses make certain that their payroll firm is adequately bonded and insured against these type of claims.
“This area is in need of regulation and hopefully in the near future payroll services will be required to be adequately insured and bonded.”
Niekamp said learning more about ways to protect clients and help them avoid situations like payroll tax fraud is another benefit to attending section meetings.
“Part of our job as small business attorneys is to stay on top of these issues and potential risks and work together to help our clients avoid risks and potential losses,” said Niekamp.