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ON-DEMAND INSIGHTS

More Guidance on the Paycheck Protection Program

More Guidance on the Paycheck Protection Program

May 8, 2020 at 3:18 PM - coronavirus,

Although the Paycheck Protection Program (PPP) received additional funding on April 24th, many small businesses impacted by the COVID-19 health crisis still report difficulty with navigating the application process. The Treasury Department has responded by issuing more PPP-related guidelines and information on its CARES Act assistance page.

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Seven Issues to Look for in Non-Solicitation Clauses

Seven Issues to Look for in Non-Solicitation Clauses

May 8, 2020 at 12:48 PM - commercial contracts,

A non-solicitation clause is a provision in a contract generally prohibiting the hiring (or attempting to hire) of one of the other party’s employees or contractors. It can be thought of as an “anti-poaching” provision. Often, vendors will add such a provision to keep its customers or clients from poaching the vendor’s employees in an attempt to avoid using the vendor by bringing the vendor’s expertise in house. When this happens, the vendor loses not only a key employee, but also, in many case, a client.

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Additional Funds for the SBA's Paycheck Protection Program

Additional Funds for the SBA's Paycheck Protection Program

April 24, 2020 at 1:36 PM - coronavirus,

When the federal government announced the Paycheck Protection Program (“PPP”) several weeks ago, making available $349 billion for loans to small businesses impacted the COVID-19 health crisis, borrowers scrambled to submit loan applications in accordance with the “first-come, first-served” process. On April 16th, PPP funds were depleted, leaving many small businesses empty-handed. In response to the continued need, the government has approved additional funds for both the PPP and the SBA’s other loan program that can be used to reduce the impact of COVID-19, the Economic Injury Disaster Loan Program ("EIDL Program”).

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President Trump Signs Immigration Proclamation Temporarily Restricting Entry for Some, Not All

President Trump Signs Immigration Proclamation Temporarily Restricting Entry for Some, Not All

April 23, 2020 at 3:16 PM - Immigration,

Last night, President Trump signed a Proclamation restricting immigration to the U.S. for certain foreign nationals. The order takes effect at 11:59pm EDT on April 23, 2020 and is effective for 60 days (and may be continued depending on labor market conditions.)

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The Coronavirus and Force Majeure

The Coronavirus and Force Majeure

April 22, 2020 at 3:33 PM - commercial contracts,

The coronavirus has toppled business as we know it, and many companies are attempting to right themselves by scaling back, including seeking to be excused from contractual obligations pursuant to a “force majeure” provision in their agreements. Force majeure is one of a handful of standard “boilerplate” contract terms that is often skimmed over (at best) or overlooked by the parties, given its relative unimportance as compared to more substantive provisions. However, when faced with unexpected and/or uncontrollable circumstances, a precisely worded force majeure clause can sometimes offer a lifeline that will excuse one party’s performance obligations.

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Does COVID-19 Impact GDPR Protections?

Does COVID-19 Impact GDPR Protections?

April 17, 2020 at 10:48 AM - compliance,

The novel coronavirus has upended business operations on a global scale, and mitigation efforts continue to be implemented to help organizations stay afloat during this unprecedented pandemic. On March 19th, the European Data Protection Board (EDPB), an informal working group comprised of representatives of each of the national data protection authorities in the EU, issued a statement regarding data processing activities during this public health crisis, emphasizing that while data protection rules should not hinder the fight against COVID-19, it is still imperative that certain prescribed steps be taken to ensure the protection of personal data.

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FAQ's issued by the SBA and U.S. Treasury Dept. for Paycheck Protection Program

FAQ's issued by the SBA and U.S. Treasury Dept. for Paycheck Protection Program

April 9, 2020 at 6:09 PM - COVID-19,

As previously shared, the SBA’s Paycheck Protection Program under the CARES Act makes available $349 billion for loans to small businesses to help prevent their collapse during the COVID-19 public health crisis. Since the launch of the Program, the SBA has released a formal application, as well as two interim rulings about the Program (see rulings one and two here). Despite these efforts, many small businesses remain confused about the Program, including the application process itself.

In an effort to provide more clarity, the government has released a set of frequently asked questions (“FAQs”) which address a variety of topics, including the following:  

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Comparing the SBA’s Economic Injury Disaster Loan and Paycheck Protection Programs

Comparing the SBA’s Economic Injury Disaster Loan and Paycheck Protection Programs

April 9, 2020 at 10:34 AM - COVID-19,

Providing financial assistance to small businesses is one of the key roles played by the Small Business Administration (SBA), including the provision of emergency loans during times of crisis under its Economic Injury Disaster Loan (EIDL) program. When the Coronavirus Aid Relief and Economic Security Act (CARES Act or Act) was passed on March 27th, certain components of the EIDL program were enhanced under the Act, and an additional SBA section 7(a) lending program - the Paycheck Protection Program (PPP) – was introduced. Deciding which loan program is right for your business depends primarily on how you plan to use the proceeds of the loan.

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Outside GC is an innovative approach to legal services for growing and mature businesses. Companies who engage Outside GC fall into two main categories: (1) those without in-house counsel who need regular, on-going legal support but do not wish to hire a full-time in-house lawyer, and (2) those with in-house counsel who do not wish to add more full-time resources to their existing in-house staff. Contact us to speak to one of our on-demand attorneys.