So, you did it! You formed your LLC. But when you filed the paperwork, there was a spot that asked for your “registered agent” information. Maybe you listed yourself if you were filing the paperwork. Maybe the legal website you checked suggested that you use its faceless service for $300 a year and you decided…
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…
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…
Tricia Dunlap Esq. ~4 minute read If your small business is structured as a limited liability company (LLC), then the cornerstone of your success is a well-written and signed operating agreement (OA). Single member LLCs are no exception. This post is #2 in our LLC Education Series: What Exactly IS a LLC, Anyway? Operating Agreements – Essential to…
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…
~2 minute read See more videos and blog posts Part 1 – LLC Education Series What is an LLC Business, Anyway? First, a little bit of simplified history helps explain the context around LLC’s. I know. Bear with me. Before LLC’s emerged in the late 1990’s, businesses generally fell into two categories: corporations and “unincorporated…
Corporate and Business Law: Understanding The Difference Will Help Business Owners Thrive What Does It Mean to Be A Corporate Attorney? WHAT IS THE DIFFERENCE BETWEEN A CORPORATE LAWYER AND A BUSINESS LAWYER? Dunlap Law’s business lawyers can advise on every aspect of running a business. From the sole proprietor selling jam at a farmer’s…
Client Stories The Flower Guy Bron We meet people every day and it can be hard to predict who will still matter in twenty years. Tricia met Bron Hansboro about twenty years ago. At the time, she was a history teacher at Thomas Dale High School in Chester, VA. He was one of roughly 140 students whom…
Affordable legal advice for small business owners. Register Now Quality, affordable flat-fee legal advice only $59 (limited time, introductory price) Click here These common questions and more inspired us to create Learning Communities Someone is leaving fake, 1-star reviews that are hurting my business. Can I sue a person who leaves a fake review for…
We walk alongside our small and mid-sized business law clients in long-term, strategic partnership to help them realize goals by managing risks and seizing opportunities. Business Law Is All We Do We are a business law firm. Legal advice for small and mid-sized business is our sole focus. We are all business, all the time.…
We walk alongside our small and mid-sized business law clients in long-term, strategic partnership to help them realize goals by managing risks and seizing opportunities. Business Law Is All We Do We are a business law firm. Legal advice for small and mid-sized business is our sole focus. We are all business, all the time.…
Business Crisis Lawyers Business Crisis Scenarios Impacted by Divorce You and your spouse founded your business together. For years, you’ve worked together to build it. Now, your marriage is crumbling. How will your impending divorce impact the business? What rights do you have as a partner in the LLC or corporation? Will business assets impact…
Corporate Governance Law / Shareholder Relations Every small business must comply with the terms of state corporate law and its Articles of Incorporation and Bylaws (for a corporation), or Articles of Organization and an Operating Agreement (for an LLC). From the number of members on a company’s Board of Directors, to the timing and location…
Contract Drafting, Review, and Analysis Your small business needs a contract to use with its clients. Maybe you’re about to hire your first employee and you need an employment agreement. The handshake agreement you just reached with an important business ally needs to be memorialized in writing. Your small business relies on independent contractors. You’ve…
We are a business law firm. Legal advice for small and mid-sized business is our sole focus. We are all business, all the time. Building a business is complex. You need business lawyers who are laser-focused on the latest developments in corporate best practices, Virginia and D.C. business law, and emerging issues such as data…
Someone is leaving fake, 1-star reviews that are hurting my business. What can I do? I’m a shareholder in a small corporation and I’m having trouble getting financial records for the company. What are my rights? Three years ago, I started an LLC with a friend. Now I want out. What can I do? These…
Affordable legal advice for small business owners. Register Now Someone is leaving fake, 1-star reviews that are hurting my business. What can I do? I’m a shareholder in a small corporation and I’m having trouble getting financial records for the company. What are my rights? Three years ago, I started an LLC with a friend. …
How We Can Help LLC or Partnership Divorce | Leadership Disputes | Board of Directors Disputes | Spouses-As-Business Partners Divorce No Commitment. 15 Minutes Free. Book Now. 7.8Tricia Annette Dunlap
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?
By Tricia Dunlap (Esq. & CIPP/US) As a business owner, you sign contracts every day. How many times have you thought, “maybe I should have this contract reviewed by a lawyer?” When it comes to important legal documents, hiring a contract review lawyer is money well spent. Consider the costly (and sometimes catastrophic) mistakes that often result when business owners agree to a…
Virginia & DC Business Law We walk alongside our small and mid-sized business law clients in long-term, strategic partnership to help them realize goals by managing risks and seizing opportunities. What We Do Business Law is All We Do We are a business law firm. Legal advice for small and mid-sized businesses is our sole…
Starting a Side Hustle From Home Whether you dream of having your own startup and leaping off the corporate treadmill or just making some extra coin, starting a side hustle from home is one proven method to achieve your goals. Running a side hustle from home is especially helpful during the COVID-19 pandemic and keeps…
Licensing, business formation, intellectual property; our lawyers serve as legal counsel and partner to business owners. We hope that you relate to the challenges shared in our client stories. Settlement Agreement Impact Makers is a Richmond, Virginia-based IT consulting firm with a revolutionary social enterprise model. Founded in 2006 by Michael Pirron with $50…
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