Dear Clients, Colleagues, and Friends: There are many forms of debt financing available to startups and young companies. Often it is a loan from a family member. This is the most common form of debt financing. There are no other commitments involved other than the terms of the note. Usually, the terms include a low-interest rate and payment due back to the note holder either on-demand or in a short period of time. You wantRead More…
Dear Clients, Colleagues, and Friends: As the California economy opens up again and companies begin to invite employees to the workplace, common questions arise from employers on what they are permitted to do with respect to their returning employees. In addition, many questions remain on how the Paycheck Protection Program (“PPP”) loan may be used to qualify for forgiveness. Below, we provide five of the most common questions recently asked in hopes that it givesRead More…
Dear Clients, Colleagues, and Friends: As we have reported in recent newsletters, the Paycheck Protection Program (“PPP”), brought upon by the CARES Act, helps small businesses by keeping employees on the payroll through this difficult time. Please see our previous entries for PPP details. Today’s significant update is that the U.S. Congress drafted changes to the PPP giving borrowers more flexibility in terms of loan forgiveness. It passed Congress almost unanimously. The key update withRead More…
Dear Clients, Colleagues, and Friends: Each day, we receive many questions from clients about steps employers should take when returning to the workplace. Although each scenario is unique, there are common themes that we receive as well as guidelines that we recommend. First, upon deciding to return to the office, employers should perform a risk assessment to see if the business establishment is ready for a return. This means before opening its doors to theRead More…
Dear Clients and Friends: Citron & Deutsch will continue to provide uninterrupted legal services during these unprecedented times. Our office is set up for remote operations and the team here meets by video conference every morning at 7:30 to go over assignments, emergencies, and client needs. We are having estate plan interviews and documentation by phone, and when needed, signings in the office. We have been using Zoom very effectively to videoconference instead of physicalRead More…
As many of you know, California’s new AB5 Law is in full swing. It has taken California, and especially Los Angeles based small businesses, by storm forcing many of these businesses to employ workers who were previously classified as independent contractors. To alleviate some of the burden, our attorneys have compiled all of the required (and optional) steps and documents to comply with state and federal employment laws. We call it the “2020 California EmployerRead More…
With all these changes in life going on, there are aggressive actions that you can you take to protect yourself, and your family, your friends, and your employees. Here are some ideas: Review your leases for a Force Majeure clause (a provision in commercial contracts that excuses the renter from performing when certain situations arise beyond the renter’s control making performance impractical, inadvisable, unreasonably expensive, illegal or impossible). Please note that these clauses often requireRead More…
By: Ofer Barlev On Wednesday, the President signed the emergency paid leave law after it expeditiously moved from the U.S. House of Representatives to the Senate without much opposition. The legislation provides much-needed help to those affected by the crisis. Aside from providing free testing for the Coronavirus, the new law provides paid sick leave and paid family leave for workers. In addition, the Treasury Department will also propose a direct cash payment to taxpayers,Read More…
Often, we have clients who desire to protect their separate property before a marriage, or their gifts from parents later in life. One way to do this is with a prenuptial or postnuptial agreement. These agreements are difficult to do, for all of the obvious reasons. Another way to maintain separate property is to create Separate Property trusts to hold assets that are separate property. Separate property assets are those assets that you owned beforeRead More…
With access to skilled talent, and seemingly unlimited venture-funding, it is no surprise that California leads the nation in the number and successful launching of companies. Over the last several years, California healthcare and technology startups have raised almost $10 billion annually. California has Silicon Valley, Silicon Beach, incubators, accelerators, coworker spaces, and leading venture capital firms. Each week, business attorneys are busy guiding entrepreneurs from idea to implementation and from startups to emerging growthRead More…