The Dunlap Law Blog
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.
Series LLCs Coming to a State Near You
What if you want to divide liability and management within your limited liability company?
Proceed with Caution: Small Business Bankruptcy and Paycheck Protection
Over one year into the Covid-19 pandemic, many Virginians are still debating bankruptcy, either individually or for their businesses. Over one year into the Covid-19 pandemic, many Virginians are still debating bankruptcy, either individually or for their businesses.
2 Types of LLCs: Member-Managed v. Manager-Managed
https://www.youtube.com/watch?v=mGPIgEoUBHo 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...
The Confidentiality Clause Curse: Should Your Professional Services Contract include a Confidentiality Clause?
Attorneys have an ethical duty to protect their clients’ confidential information under the law, but most professional services providers are not automatically bound to do the same. One way the parties to a professional services contract can manage the risks accompanying the necessary access to sensitive information is to address them in a confidentiality statement.
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 PushbackLike every business...
Part 3 11 Tips Before Becoming an LLC Minority Member
By Tricia Dunlap Esq.~4 minute readPart 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...
Part 5 3 Fiduciary Duties That Make Your LLC Safer
By Tricia Dunlap Esq.~2 minute readSee more videos and blog postsPart 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...
Part 4 Hotel California: An LLC Operating Agreement Gone Wrong
By Tricia Dunlap Esq.~2 minute readPart 4 – LLC Education Series Hotel California: You Can Checkout but You Can Never LeaveRelatively 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...