“There’s always been a desire and drive to innovate, to do something new and attract new talent to Maryland. The marketplace really is looking to develop the next thing yet stay true to our roots. When you look at the area and you see what’s going on in everything from cybersecurity to health care to telemedicine to consumer products – Baltimore is alive with innovation and the entrepreneurial spirit is in play. That’s what excites us about practicing law with a focus on entrepreneurs here in Baltimore,” states [George] Nemphos.
Taking effect January 1, 2024, companies should take steps now to prepare for the upcoming reporting obligations, with potential penalties including fines and jail time.