As we all come to terms with our immediate future of social distancing, shelter in place, shutdowns, and various other societal measures our world is employing to combat the COVID-19 coronavirus pandemic, I thought this would be an opportune time to lay out some strategies from Ivory Legal PLLC to assist your business during these surreal and uncertain times.
First and foremost, please understand that Ivory Legal PLLC has embraced a remote work model since its inception last year. Thus, it is business as usual for my firm during this time (albeit with some virtual schooling assistance for my children), and I remain able, willing, and impassioned to provide the same level of Bespoke Business Counsel that my clients have come to expect from the firm prior to this health crisis.
While we have witnessed the many hardships that have befallen society during this unprecedented situation, we have also seen the great personal growth and increased virtual connections afforded to all of us as individuals, despite the isolation, physical barriers, and distance that currently separate us. So, why not provide a similar level of “self-care” to your business? I envision Ivory Legal PLLC assisting your company in achieving these improvements through looking inward and implementing both reactive and proactive legal concepts:
Reactive Legal Concepts
- Examine the applicability of force majeure provisions in your company’s agreements to COVID-19;
- Advise on the basics of downsizing and furloughing your company’s employees, an unfortunate side effect of these trying times; and
- Brainstorm and identify both new opportunities for your business to give back to the community and fresh income streams to carry it through and beyond this pandemic.
Proactive Legal Concepts
- Review and revise your company’s internal form agreements: Do these agreements afford your business the highest level of legal protection available? Moreover, do they even say what you think they say? A fresh set of eyes and, quite possibly, a new coat of verbal paint might make a huge difference;
- Conduct an intellectual property audit: What trademarks, copyrights, trade secrets, and other intellectual property assets does your business own? Are they all properly maintained, protected, and registered? Let’s take a look together and formulate an action plan to secure them; and
- Update your company’s entity records and minute book: When was the last time you pulled that dusty binder out of your filing cabinet and flipped through it? Are the internal records of your business in a condition that you would want a prospective lender to examine as part of its due diligence for a contemplated loan transaction? Together, we can avoid delaying a future financing that your business might so desperately need to thrive by updating these items during this downtime.
Would you like to explore the applicability of any of the legal concepts outlined above to your business? Or perhaps you have other long-neglected legal tasks you would like to complete? If so, click here to schedule an initial discussion with me at no cost and to #engagebespokemode for your business today.
And please take all necessary steps to remain safe and healthy during this crisis!