Blogs

Business and Financial Services

Ownership Interests in an LLC – The Options are Endless!

Limited liability companies are entities chartered by the states, that are governed by a contract – typically called an Operating Agreement – among the owners. As a result, the members or owners of the LLC have great flexibility in creating the entity exactly like they want (purple unicorns!), but this can also result in important…

October 29, 2019

Employment Law

New Virginia Law Requires Employer Disclosure of Requested Personnel Records

A quick heads up for those Virginia employers whose policy has been to deny employees access to or copies of their employment records. As of July 1, 2019, Virginia law now requires employers to “furnish a copy of all records or papers retained by the employer in any format” that reflect the following information about the employee: Dates of employment with the employer; Wage or salary history during the employment; Job description and job title during employment; and Injuries sustained by the…

October 3, 2019

Business and Financial Services

Do You Really Need a Letter of Intent?

Letter of Intent, Term Sheet, Indication of Interest, and LOI – what do these all mean? These are actually different terms for fundamentally the same thing: a document that describes the terms of a future transaction. Each has a different style and has specific terms about the proposed transaction, and each can be helpful to…

September 18, 2019

Business and Financial Services

Deadlock Provisions in Agreements – Say No to the Rochambeau Method

For LLCs or Corporations with a small number of members or shareholders, and with relatively equal ownership and management, a provision to deal with a deadlock is critical. This type of provision is typically located in the LLC Operating Agreement or a Shareholder Agreement, but could be a separate agreement among the Members or Shareholders. Without this provision, or a way to break a deadlock or tie, the parties could be trapped into the entity, without a way to conduct business. Deadlocks…

September 17, 2019

Business and Financial Services

A Beginner’s Guide to Equity – Part Three: What Equity Will Not Do

Raighne Delaney concludes his series on Equity. In part three, he shares insights into what equity will not do.

August 5, 2019

Business and Financial Services

A Beginner’s Guide to Equity – Part Two: What Equity Can Do

Raighne Delaney continues his series on Equity. In part two, he shares insights into the substance of equity – what equity can do.

July 26, 2019

Construction

What will be the Impact of Amazon HQ2 to the Hotel Industry?

The second headquarters for Amazon in Arlington, VA is obviously a hot topic in local commercial real estate. Much of the focus so far has been on projected residential price increases and increased commercial leasing. But, let’s not forget about the hotel industry. The forecast for much higher hotel traffic in the area was the…

July 19, 2019

Business and Financial Services

A Beginner’s Guide to Equity – Part One: Procedure

Raighne Delaney shares his insights into “What is Equity” – it’s history, procedure within the law, and who it applies to.

July 18, 2019

Construction

​​Five Things to Consider When Leasing to a Restaurant Tenant

As reported by the National Restaurant Association and other industry experts, there are over one million restaurants in the United States, but the failure rate is very high (a majority close within three to five years). With online shopping and delivery becoming more and more prevalent, landlords of all types have faced increasing vacancies for…

July 16, 2019

Construction

Landlord’s Liens in Commercial Leases – Part 2

Landlord Waiver Agreement in Favor of Tenant’s Lender As noted in part 1 of this article, the commercial tenant’s lenders will also want a security interest in the tenant’s personal property to secure the repayment of the tenant’s loan obligations, creating a conflict between the lien rights of the landlord and the lender. Because of…

June 19, 2019