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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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Read Business Law Update to stay up to date on legal issues that impact public and private companies on a local, national and global basis. Articles in this issue include:

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The AI Workplace Dilemma: Innovation, Risk &amp; Regulation

While artificial intelligence is transforming how companies hire, manage and evaluate employees, using AI tools may expose them to legal and reputational risks in unexpected ways. Employers deploying AI tools should aim to build their AI strategies around the core principles of fairness, accountability and transparency and consider implementing several immediate best practices. <a href="https://www.thompsonhine.com/insights/the-ai-workplace-dilemma-innovation-risk-regulation/" target="_blank" rel="noreferrer noopener">Continue reading.</a>

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Don’t Wait Too Long to Assert Your Trade Secret Claims – It Could Cost You Your Case

Trade secrets are becoming an increasingly important form of intellectual property for U.S. companies. A recent Federal Circuit decision serves as a cautionary tale for any company that learns of reasons to suspect misappropriation – the statute of limitations clock starts ticking earlier than many plaintiffs realize. <a href="https://www.thompsonhine.com/insights/dont-wait-too-long-to-assert-your-trade-secret-claims-it-could-cost-you-your-case/" target="_blank" rel="noreferrer noopener">Read more.</a>

The Treasury’s Long Arm: What SSBCI Participants Need to Know About Audit Exposure

The State Small Business Credit Initiative’s compliance regime was built with some serious teeth. Now that many programs are more than halfway through their deployment period, the Treasury Department’s Office of the Inspector General is increasingly willing to pursue compliance violations, highlighting the need for participants to continue maintaining meticulous records and documentation. <a href="https://www.thompsonhine.com/insights/the-treasurys-long-arm-what-ssbci-participants-need-to-know-about-audit-exposure/" target="_blank" rel="noreferrer noopener">Continue reading.</a>

When Your Loan Might Not Be a Loan: A Sixth Circuit Concurrence Puts Debt Recharacterization on Notice

A recent concurrence from the Sixth Circuit is sending a signal that should get the attention of anyone who structures investments as a mix of debt and equity: The power of bankruptcy courts to reclassify debt as equity may be on borrowed time. While the concurrence does not overturn existing law, it highlights several practical considerations for lenders, sponsors and companies that rely on hybrid capital structures. <a href="https://www.thompsonhine.com/insights/when-your-loan-might-not-be-a-loan-a-sixth-circuit-concurrence-puts-debt-recharacterization-on-notice/" target="_blank" rel="noreferrer noopener">Read more.</a>

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This newsletter may be reproduced, in whole or in part, with the prior permission of Thompson Hine LLP and acknowledgement of its source and copyright. This publication is intended to inform clients about legal matters of current interest. It is not intended as legal advice. Readers should not act upon the information contained in it without professional counsel.

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Business Law Update – July 2026

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