MPL General Counsel Corner – Lions and Tigers and Bears, Oh My
We are one year out from the pandemic shutdown and things look to be improving (assuming you limit your time following the news headlines). However, as Dorothy famously fretted in the Wizard of Oz, what about the lurking “Lions and Tigers and Bears, Oh My”?
How do you solidify your business foundation, keep moving forward, and possibly grow into new areas in this pandemic-influenced environment? To help trigger some thought, how about the following questions:
- When do your vendor contracts renew?
- What are the options if your key supplier goes out of business?
- What is this whole “Force Majeure” thing and do I really have to worry about an “Act of God”?
- What’s the point of paying for business interruption insurance if it did not cover me with the pandemic shutdown?
- I like this virtual work environment, but I am stuck in a long-term office lease with a lot of unneeded space. What are my options?
- I would like my employees to come back, but only if they are vaccinated. Can I require them to get it?
- I have employees who won’t wear a mask, can I terminate them for not complying with my rule?
- I have key client agreements coming up for renewal. What should I be adding or modifying in the agreement in this new pandemic environment?
- With my employees working virtually all over the country (and even the world), what taxes am I responsible for?
- What pandemic relief programs am I still eligible to use?
This list could go on and on. What are you going to do with your business and how will you react? It may be time to sit down with your team (mentors, professional advisors and senior leaders) and continue (or start) the discussion. Over the next several weeks, we will be addressing these questions and many more in this newsletter.
A few things that may be of interest:
- EisnerAmper Webinar – The Intersection of ERC and PPP (4/1/21; 12-1pm) – Thanks to Carey Gertler for sharing
- Why SPACs Are Here To Stay – A great overview of the SPAC world from Aaron Spool, Partner of Eventus Advisory Group, LLC.
- You Can Run But Can You Hide? – The latest Chapter 11 Bankruptcy Forbes column from Rob “Don’t Overlawyer The Deal” Bovarnick
- Boost Security in Microsoft Teams (3/30/21; 2-230pm) – a timely webinar from the professionals at Stambaugh Ness.
- Employee Retention Credit Reminders for 2021 – A good overview of an alternative relief program for business owners from Trout CPA.
- Covid-19 Relief Summary for Employers – A great chart of the key relief programs from RKL.
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As always, please don’t hesitate to email me (email@example.com), Andy Miller (firstname.lastname@example.org), Christian Miller (email@example.com), Erik Spurlin (firstname.lastname@example.org) or anyone in our office with questions or comments.