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Search Results for: LLC

The Small Business Reorganization Act

~5 minute read Reviewing the Small Business Reorganization Act and Subchapter V Bankruptcy As of April 19, 2021, the Small Business Reorganization Act and Subchapter V, the new bankruptcy option for small businesses, has been in effect for 14 months, and like a human toddler, it’s walking, talking, and changing.  So even though I’ve posted before about

Virginia Leads The Way: The Virginia Consumer Data Protection Act

In March of 2021, Virginia became the first state on the east coast with a comprehensive data privacy protection law. The Virginia Consumer Data Protection Act (“CDPA” or the “Act”) goes into effect on January 1, 2023. The CDPA takes inspiration from the EU’s General Data Protection Regulation (“GDPR”) and the California Consumer Privacy Act (“CCPA”) but its sponsors avoided some of the weaknesses of those two predecessors.

Microbusinesses Only: New PPP Rules For 2021

~5 minute read History Between Microbusiness and the PPP Last spring, the government established the Paycheck Protection Program (“PPP”) as one of the main aid programs for small businesses during the coronavirus pandemic.  In the beginning, PPP loans were available to businesses with fewer than 500 employees. The money could be used for payroll, health

Is Small Business Bankruptcy Right For You?

Worst of all, your cash reserves and any Paycheck Protection Program money you may have received are long gone. Your creditors are hounding your cell phone and your mailbox is full of bills. And with all of the talk about the “new normal,” perhaps you no longer see any light at the end of the tunnel for your business and are ready to throw in the towel. If so, perhaps a Chapter 7 bankruptcy is right for you.

2 Types of LLCs: Member-Managed v. Manager-Managed

2 Types of LLCs: Manager-Managed v. Member-Managed Let’s talk about the two types of LLCs or Limited Liability Companies. First of all, Limited Liability Companies are a very flexible vehicle for doing business. They give you all of the protections from liability that a corporation gives you without many of the complexities and drawbacks that

Starting a Business With Friends? 6 Questions You Need To Ask

This post will help you think through six of the most basic questions that you’ve got to answer before you start your business.1. What Will Each Person Contribute to the Business? 2. Will Your Rights In Your Business Be Proportional to the Contribution to the Business? 3. What If One of You Wants to Resign? 4. Whether or Not You Need a Prohibition Against Engaging in Competing Business Activities. 5. Who Will Manage the LLC?
6. Can a New Member Join the LLC?

Tips For Workplace Safety, COVID-19, and Dealing With Employee Pushback

This post taps the collective experiences of Tricia Dunlap (business attorney and CEO of Dunlap Law PLC) and Brian Chandler (PR expert and CEO of Commonwealth Public Relations).  Tips For Workplace Safety, COVID-19, and Dealing With Employee Pushback Like every business owner, the first months of the pandemic rocked your foundation. Now, six months in,

Part 3 11 Tips Before Becoming an LLC Minority Member

By Tricia Dunlap Esq. ~4 minute read Part 3 – LLC Education Series:  The Perilous Position of LLC Minority Members  Limited liability companies are highly popular, very flexible business entities.  They are cheaply and easily formed which unfortunately creates the illusion that lawyers aren’t necessary.  Au contraire.  The truth is that LLC’s can be a nasty trap for

Part 5 3 Fiduciary Duties That Make Your LLC Safer

By Tricia Dunlap Esq. ~2 minute read See more videos and blog posts Part 5 – LLC Education Series  Fiduciary Duties:  The Responsibilities You Never Knew You Had  Good faith and fair dealing.  Loyalty.  Care.  Sometimes these seem like quaint concepts.  A throwback to a kinder era.  In reality, they are implied responsibilities and “fiduciary duties” that can

Part 4 Hotel California: An LLC Operating Agreement Gone Wrong

By Tricia Dunlap Esq. ~2 minute read Part 4 – LLC Education Series  Hotel California: You Can Checkout but You Can Never Leave Relatively early in my legal career, a new client arrived with a terrible dilemma.  About a decade earlier, he and his buddy decided to invest in real estate. His buddy contributed more money, so my client

Virginia Values Act: What Not To Do for Virginia Employers

Virginia Values Act: What Not To Do for Virginia Employers On July 1, 2020, the Virginia Values Act became effective across the Commonwealth and employee-employer relations in the Old Dominion will likely never be the same. We have produced two videos that summarize the provisions, here and here.  This blog is more granular.  If you’re an employer in Virginia, this is your new list

6 New Laws In The Virginia Values Act

  By Tricia Dunlap Esq. ~9-10 Minute Read 6 New Laws In The Virginia Values Act The Virginia Values Act went into effect on July 1st, 2020. This was a significant law in Virginia that our General Assembly passed in the last session and it has some really important provisions for business owners to

2 Things You Need To Know About The New Coronavirus Rules in Virginia

By Tricia Dunlap Esq. ~4-5 minute read 2 Things You Need To Know About The New Coronavirus Rules in Virginia The Virginia Department of Labor and Industry passed new coronavirus rules in Virginia. It’s actually 38 pages worth of rules. It is the first time in the nation that we have binding rules on employers

Be Smart(er) about Data Collection

Tricia Dunlap, Esq. & Ben Nelson Ben Nelson is an experienced technologist at SingleStone Consulting who has provided custom application development and technical leadership for the public and private sectors.  He is a writer, podcaster, and presenter. ~4 minute read Be Smart(er) about Data Collection In recent years, many businesses have come to perceive data

3 Tips to Prevent Coronavirus Lawsuits

Subscribe to our YouTube channel Tricia Dunlap, Esq. ~4 minute read 3 Tips to Prevent Coronavirus Lawsuits Coronavirus lawsuits are pretty hyped in the news lately and if you’re a business owner you might even be a little freaked out about it. I’m here to tell you that it’s a harder case to win than the

SaaS Vendor Evaluation: 3 Criteria For Choosing Software Part 3

Subscribe to our YouTube channel Tricia Dunlap, Esq. ~3-4 minute read SaaS Vendor Evaluation: 3 Criteria For Choosing Software This is part three of a three-part series on choosing software and what SaaS vendor is right for your business. In part one, I talked about principles around data privacy that your business should consider and

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