The United States Small Business Administration (“SBA”) oversees two loan programs that are intended to benefit small business owners and promote employment. The programs, known as the 7(a) Loan Program and Section 504 Loan Program, serve different purposes. 7(a) loans are intended to provide funding for short and long-term working capital, for purchases of furniture,…
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The world’s ever-changing technological landscape has led to the formation of new mediums of creativity — mediums that the sports and entertainment industry cannot ignore. Digital currencies, virtual universes, and enhanced gaming platforms are just a few drops in the new-tech wave that is crashing onto industries and headlines everywhere. As a result, many attorneys…
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Picture this scenario: You have a residential development project that had conceptual approval from the local Planning Board two years ago. Under the local laws that existed when you applied for your approval, you were entitled to 60 market-rate dwelling units. But when you submit your engineering plans for the next phase of approval, you are…
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The “Live Local Act,” recently signed into law by Florida Gov. Ron DeSantis, provides unprecedented incentives for developers to build affordable housing. With access to low-interest loans and tax credits, the ability to bypass local zoning restrictions, and prevention of county-imposed rent control, developers are now incentivized to create a lasting impact in their communities…
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A primary focus when starting a business should answer this question: What structure provides the most protection? New founders can get bogged down in the minutia about whether to choose a corporation or a limited liability company (“LLC”), how they want the business to be taxed, or what titles the owners should have. These are…
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It’s spring 2023, live entertainment is back, and perhaps so is the Internal Revenue Service (“IRS”). The Inflation Reduction Act, signed into law on August 16, 2022, authorizes $80 billion in funding for the IRS over the next 10 years, of which more than $45 billion is earmarked for enforcement. [1] What does this mean…
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Over the past three seasons, fans of the hit HBO series Succession [1] have had an entrée into the fabulous lifestyles enjoyed by members of the Roy family and a front-row seat from which to observe the myriad succession struggles the family faces. While not every business experiences the same palace intrigue as the Waystar…
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The province of British Columbia (B.C.) and the State of New York are leading the way in the field of pet custody and could be just the nudge needed to signal others to catch up. In the United States, pets are generally categorized as property to be distributed pursuant to the applicable state’s property distribution…
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On March 29, 2023, a new exemption from SEC registration for brokers providing services in mergers and acquisitions (“M&A”) transactions officially went into effect. The exemption, outlined in Section 501 of the Consolidated Appropriations Act of 2023, is welcome news to the many M&A practitioners whose practices had previously been reliant solely on the SEC…
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Successor liability is a phrase that corporate officers hope to never have to utter to their board of directors or shareholders. Unfortunately, it’s a common phrase in environmental litigation and a need-to-know concept in transactional law. Successor liability can arise directly from the activities of an entity that has been acquired or merged into your…
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