With cases once again surging across the US and vaccination numbers still hovering well below goals, President Biden announced on September 9, 2021 a six-pronged national strategy to combat the COVID Delta variant. Here are the 6 things you need to know … Vaccine Mandate for Private Businesses If your business has 100 or more…
Making a Will August doesn’t just mark the shift from vacation mode back to school and/or work. It’s also National “Make A Will” Month! If you’re one of the 70% of Americans who don’t have a current will – or have never had one to begin with – take advance of this month to either…
~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…
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.
What if you want to divide liability and management within your limited liability company?
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…
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?
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,…
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…
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…
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 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…
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…
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…
By Tricia Dunlap (Esq. & CIPP/US) and Tess Lynch (J.D. 2019 & CIPP/US) Start with these four steps to prepare for the CCPA and ensure your Virginia Business is in compliance. If you’ve read our last blog, you know the California Consumer Privacy Act (CCPA) could impact your business, even if you’re not based in California. Enforcement begins July 1, 2020,…
In the roughly twenty years since it emerged, the limited liability company (LLC) has become the small business owner’s darling. There are good reasons for that. LLC’s are fast, easy, and cheap to set up – often, filling out a standard form and paying the filing fee are all that’s required. Once set up, the…
