Commercial leases are very different from residential leases. They are typically set up so tenants cover things like insurance, property taxes, and maintenance. This structure is called a triple net lease. The tenant’s ability to negotiate can be somewhat difficult because landlords often want to offer their tenants the same rates. However, the market may help tenants negotiate more favorable terms if the space in question is not highly sought after. If that’s the case, a tenant could ask for more build out money or more parking spaces or even less base rent.  Additionally, if a landlord has a need to fill a spot quickly, that can be a time to try to negotiate your best deal. 

Without a doubt, 2020 has drawn attention to an obvious lack of opportunity for minority populations, an inequality in our society that’s become so obvious that it can no longer be ignored. Some of these long-standing problems were exacerbated by COVID-19, but now business owners have a fantastic opportunity to use their businesses to help in some small (or, large) way.

As the end of the year approaches, do you have your company’s annual meeting planned?  Have you drafted your company’s annual minutes?  

In my experience with helping my clients negotiate the buying or selling of their business, whether to a third party, or to their soon-to-be ex- partner, the same pitfalls arise time after time. But, by understanding what they are and how to avoid them, you can go into the sale confidently. As always, the devil is in the details and you need experienced legal counsel to draft your terms.

You've got a cause you care about — now you just need the legal status that will help your organization raise money and work for that cause. Here are four steps to help you understand the process, but as always, call Wick Law for more details.

Right now, developing new ideas to supplement core products and services is one way businesses are continuing to operate and stay relevant. Post COVID-19, your small business may need to pivot and re-configure the day-to-day.

In the aftermath of COVID-19, many small businesses are making necessary pivots to their business model in order to stay afloat.

Many business owners choose to form their business as a Limited Liability Company (“LLC”) because of the protections afforded by this business structure. LLC members are able to protect themselves from certain debts and threats (lawsuits) that they would otherwise be exposed to. In other words, an owner/operator will not generally be held personally liable for the acts of the LLC.

. UNEMPLOYMENTPandemic Unemployment Assistance Program — The CARES Act, through the temporary Pandemic Unemployment Assistance program gives access to individuals not traditionally eligible, including self-employed, independent contractors and “gig workers” and those with limited work history, who are unable to work as a direct result of the coronavirus.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help businesses keep workers employed during the pandemic and recovery. Most important to small businesses:•$10 billion has been set aside for emergency loans to help small businesses keep workers employed, including some that are forgivable;•$17 billion for loan subsidies through the SBA;•and $350 billion in loan guarantees.

Wick Law wants to provide small business owners with the latest COVID-19 related policies that could impact your business. See below for recent policy updates impacting your taxes, unemployment and workers’ compensation.

Wick Law is committed to helping small business owners be informed during this tough time.