Most small businesses choose to operate as corporations or limited liability companies (LLCs) as opposed to sole proprietorships or partnerships for a variety of reasons, the most important being the liability protection afforded by corporations and LLCs for their owners. Between the two of them,  LLCs are the entity of choice for small businesses […]

The severe financial problems encountered by restaurants and bars during the COVID pandemic are well known.  First, there were percentage-based occupancy limitations in order to promote social distancing, and then off-again/on-again bans on indoor dining.  Politicians always cite these challenges to the hospitality industry as part of the debate over special federal funding proposals.  Perhaps […]

  With all of the uncertainty recently regarding the extension of unemployment benefits, more PPP loans for businesses and a possible government shutdown while the COVID vaccine would need to be distributed, it would have been easy to miss the myriad other provisions in the 5,593 pages of the stimulus bill that was signed by […]

There were numerous programs that sprung up in 2020 for the purpose of increasing minority ownership of businesses, and many of these are directed at supporting startup businesses formed by underrepresented entrepreneurs.  The sponsors of these programs include governmental agencies, non-profit organizations (including universities) and for-profit organizations.  It is likely that the goal of having […]

During the global pandemic caused by the outbreak of COVID-19, government orders required many businesses to press pause on their operations for an extended period of time. Some businesses shut down temporarily, while others have had to close their doors for good. Pandemic-related shutdowns have obviously had a significant adverse impact on business owners’ revenue. […]

Although the Eagles hit song “Hotel California” is over 40 years old, most people have probably heard it numerous times. The song could be a good metaphor for owning a minority investment in a privately held company because it is very difficult to leave the company when you want: “You can check out any time you want, […]

  These days, it is increasingly common for students to seek part-time employment to complement their education. Gaining meaningful work experience helps students put into practice what they learn in the classroom. At the same time, taking on interns can be beneficial for companies as well, especially if they require assistance only for a short […]

  Many small businesses have asked the Clinic whether they are still bound by their commercial leases when the COVID pandemic has made it almost or totally impossible for them to operate their businesses.  These are similar to the questions raised by many students in college towns throughout the United States regarding the apartment leases […]

  With many businesses forced to shut their doors amid the COVID-19 pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. As part of the Act, the Paycheck Protection Program (PPP) was established to help small businesses cover their everyday expenses. With the Treasury Department announcing this week that they will begin […]