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Our business blog focuses on issues affecting Virginia, D.C. and Maryland business owners as well as those in other jurisdictions throughout the country. We provide timely insight and commentary on federal and state rules and how they affect you. If you are interested in having us cover a specific topic, please let us know.

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  • Posts by Kathleen Kelley
    Shareholder

    Kathleen Kelley is a shareholder at Bean, Kinney & Korman focusing her practice on corporate and transactional law. Her client base encompasses local business, nonprofits, government contractors, and Fortune 500 companies ...

October 29, 2019
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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 owners/members of the LLC have great flexibility in creating the entity exactly like they want (purple unicorns!), but this can also result in important governance provisions to be forgotten.  

September 18, 2019
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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 document the future transaction.