President Joe Biden instructed the Federal Trade Commission (FTC) in 2021 to investigate non-compete clauses that are unfairly restrictive in not allowing workers to pursue the best employment opportunities or advance their careers. In 2022, he directed the FTC to...
Who are third-party beneficiaries?
People assume that contracts are only between two parties, but others may benefit or suffer from a contract's performance. These are known as third-party beneficiaries, and they may have legal rights to enforce an agreement or share in the proceeds. They have this...
Commercial property will continue to rebound in 2022
Many assume that the commercial real estate market is dipping amid work from home orders and the challenges of hiring and maintaining staff or closing altogether. However, 2021 was a strong year for commercial property and 2022 looks to build on that success. Reasons...
Force majeure: an old concept for present-day issues
The pandemic has impacted businesses in many ways. There are supply chain issues that can prevent regular operation. There are challenges in finding new hires to replace departing staff. There are economic downturns and inflation. These are all common reasons for not...
Small Business Admin. Lifts Cap on Economic Injury Disaster Loans
The Economic Injury Disaster Loans program through the Small Business Administration could be a lifeline to many small businesses that are struggling due to the pandemic. Now, the government has increased the loan limit from $500,000 to $2 million, starting Oct. 8....
Could the FTC really ban noncompete agreements federally?
President Joe Biden campaigned on a promise of limiting the use of noncompete agreements, at least for low-level workers. That was a stretch goal, as noncompete agreements have traditionally been regulated by the states, not the federal government. Nevertheless, last...
Paycheck Protection Program extended through May
Good news if your business has been struggling due to COVID-19 or the lockdowns. The federal government has extended the Paycheck Protection Program (PPP) through the end of May to allow companies more time to apply and to allow more time to process the applications....
Barred from PPP loans due to a bankruptcy? Not anymore
The Paycheck Protection Program (PPP) was meant to provide small businesses with the extra cash they needed to maintain their payrolls during the pandemic, when times were bad. The loans are forgivable for those who actually use the money to keep their employees on...
Better deal-making requires a long-term perspective
Have you fought hard to close a deal only to have it fall apart during implementation? Have you negotiated a contract that didn’t stand up to real-world conditions? Has a dispute arisen because you didn’t foresee a certain eventuality? There are ways to prevent...
If your business survives the next few months, 2021 could be great
An end to the pandemic may be in sight. With vaccinations rolling out now, there is a chance we could reach a reasonably safe state in just a few months. Yet the promise of the vaccines hasn’t completely solidified. There have been slowdowns and setbacks. Many...