Entries by GeekTown

Private Equity and Portfolio Companies may be left out in the cold under CAREs Act

The unprecedented $2 trillion Coronavirus Aid, Relief, and Economic Security Act (CAREs) is the largest stimulus package in U.S. history. The primary intent of CAREs is to help small businesses across the country ride out the storm during the difficult financial times resulting from the global COVID-19 pandemic. CAREs stimulus aid includes (a) $349 billion […]

Updating Force Majeure Provisions

In light of the COVID-19 pandemic, it may be time to for contract drafters to review and update their force majeure provisions. The basic function of a force majeure clause is to excuse a party to the contract from liability if some unplanned event occurs that is reasonably outside of the affected party’s control.  A […]

The Senate passed the CARES Act

The Senate passed the CARES Act, which provides a broad range of relief to individuals and businesses suffering in the wake of the coronavirus pandemic. Here is a summary of the payroll relief that will go into effect if this bill is passed House: The Small Business Administration would provide loans to any business concern […]

Lippitt O’Keefe Advocates for Small Restaurant Relief in Light of Covid-19 Disruptions

Gov. Whitmer’s recent Executive Orders, while necessary to protect the health and safety of all Michiganders, has had a disastrous impact on Michigan’s restaurants and bars. The restrictions imposed by these orders prohibit restaurants from serving dine-in customers, which may drastically reduce revenue for these small businesses. Restaurants are being forced to adjust to serving […]

Financing Options for Start-Ups

An essential step to a start-up’s success is obtaining access to funds sufficient to facilitate growth. Many start-ups first look to the personal funds of the founders and then to friends and family for start-up capital. Although this may seem like the easiest approach, accepting money from friends and family presents potential pitfalls. Relationships will […]

Just How Flexible Is A Limited Liability Company?

Just How Flexible Is A Limited Liability Company? The business entity form that is the limited liability company (“LLC”) is known for being flexible, but just how flexible is it? An LLC’s flexibility is twofold. First, there is great flexibility in tailoring the governance structure of an LLC to the needs and preferences of its […]

Choice of Entity Basics

Selecting a type of business entity is often the first step in the business establishment process. The choice is often dictated by the short and long term goals of the owners and the eventual operation plan for the business. The primary types of entities include: Sole Proprietorship A sole proprietorship is a legal form of […]

Financing Independent Films

At times, producing an independent film can seem like a Herculean task. Although having a creative vision is critical to achieve success in this industry, ideas, unfortunately, do not transform into a motion picture without money. Finding money is often the most precarious part of making a film. Typically, independent films are funded through loans, […]

Six questions you must ask before engaging in an “Acqui-hire”

Before any Acqui-hire, there are several things to consider We all know the “garage-to-greatness” entrepreneurial stories of Steve Jobs, Larry Page, Jeff Bezos and the like. But we have to wonder – for each of these superstar founders, how many brilliant, conscientious entrepreneurs with equally exciting products failed before they reached similar greatness, simply because […]

Look to the Angels

In our experience, founders of start-up companies seeking capital often focus too early and too exclusively on attracting interest from professionally managed venture capital funds. Most VC funds have significant sums of cash that they need to place within four or five years and do not view small start-up investments (generally under $5 million) as […]