Examining the Effect of 2021 and COVID-19 on Privately-Held Businesses

It is with cautious optimism that we are enjoying the emergence from the COVID-19 pandemic. However, the pandemic illustrated why, now, more than ever, owners of privately-held businesses need to plan for the disruption an illness or death could have on their businesses. This program, presented by business attorney Barry Gartenberg, will discuss how, in the absence of planning, limited liability company and corporation law differ in resolving such issues, as well as how to draft agreements to avoid pitfalls. In the wake of the pandemic, the new federal Corporate Transparency Act may have gone unnoticed. This program will summarize the new law and discuss how it will affect the governance of privately-held entities. 

Any attorney who represents a privately-held business will gain important information from the program.

Learning Objectives: 

1. Identify the key differences in how corporation and LLC law address death and disability of business owners

2. Draft shareholder and operating agreement that avoids the pitfalls of the default provisions of corporation and LLC law

3. Advise clients about, and plan for, the upcoming reporting requirements of the federal Corporate Transparency Act