Be Careful Not to Convert Your Nonprofit Volunteers into Employees
January 14, 2020

Nonprofit organizations often struggle recruiting and retaining volunteers, and they try valiantly to come up with creative ways to recognize and reward those individuals who generously contribute their time and talent to the organization. …

Drafting Your Final Press Release
January 08, 2020

It is a morbid thought, but have you ever read an obituary and wondered what yours will look like? Well, why not be proactive by either drafting your own obituary (I prefer the term “final press release”) or jotting down a few notes as to…

SEC Proposes New Changes to Accredited Investor Definition
January 06, 2020

The U.S. Securities and Exchange Commission (SEC) recently proposed new rules to expand and clarify the definition of "accredited investor" under the U.S. Securities Act of 1933. Among other things, the rules would open private capital markets…

What Laws Regulate Franchising?
December 23, 2019

Franchising is regulated by both federal and state law, and these laws are on the books primarily to protect franchisees. At the federal level, the FTC Franchise Rule imposes disclosure requirements that apply to the offer and sale of franchises.…

Does an LLC Pay Income Taxes?
December 20, 2019

In most cases, no, at least not directly. One of the advantages of LLCs is a concept called pass-through taxation. This means the LLC itself does not pay federal income tax, its owners do. Income, profits, deductions and losses “pass through”…

What is an Assumed Name Filing?
December 19, 2019

This is also known as a “d/b/a” or “doing business as” filing. If you plan to do business under a trade name that is different than the legal name of your business entity, then you are required to file a Certificate of Assumed Name with…

Pros and Cons of a Small Business Owner Staying Involved with Business Post Closing
December 17, 2019

What are some pros and cons of having a small business owner continue to stay involved with the business as an employee or agent of the buyer in some capacity post closing? From a buyer’s perspective, it can be beneficial to negotiate an…

Fundraising and Timing Issues for Newly Formed Nonprofit Organizations
December 13, 2019

Startup nonprofits often face a tough fundraising challenge during their first year or two of existence. The organization desperately wants to begin operations in pursuit of its charitable mission before they receive formal approval of their…

A Quick Intro to the Registered Agent Requirement for Virginia Nonstock Corporations
December 10, 2019

Virginia nonprofit corporations are required to designate a registered agent. The purpose of a registered agent is to provide an actual, physical point of contact and mailing address (i.e., a street address as opposed to a P.O. Box) where an…

Perkins Named a Business Law “Legal Elite” by Virginia Business Magazine
December 02, 2019

Richmond small business attorney Eric Perkins has again been selected by Virginia Business magazine as a “Legal Elite” in the Business Law category for 2019. Started in 2000 in cooperation with the Virginia Bar Association, the Legal Elite…