Category: Business Law

Virginia recently passed several new laws that affect guardianships, conservatorships, trusts, and estates. These new laws went into effect on July 1, 2020. One of these changes involves partition for allotment. Below, we will discuss what a partition for allotment is and how a new law changes the practice of partition for allotment. 

Many Virginia residents dream of the day they can start their own business, but the process for forming a legal business entity can be confusing. Many entrepreneurs are unsure where they should start or what type of business entity they should use to start their business. Forming a corporation in Virginia may not be as

Applying for the necessary business licenses is one of the essential steps for starting a small business in Virginia. Businesses are legal entities, meaning they can own bank accounts, own property, and pay taxes almost as if they were a Virginia citizen. In Virginia and every other state, you must obtain a business license before

Are you interested in starting a business with one or more business partners in Virginia? Or, have you already formed a partnership? Understanding the Virginia Uniform Partnership Act (VUPA) will help you as you run your business. Virginia is one of 37 states that has adopted the Revised Uniform Partnership Act. The VUPA  governs business

It is common for business partners to experience conflict, and in some cases, these disputes are serious. If you have decided that you are not able to reconcile with your business partner, it may be time for you to leave the company altogether. If you want to leave your business, but your other partner or

Starting a business is often a rewarding, yet challenging endeavor. Ensuring that your business is profitable is likely at the forefront of your mind. It is also important to consider the types of business disputes that could arise after starting your business. Many new business owners are surprised to learn of the many types of

If you have decided to start a small business with a partner, or you already own a business with a partner, it is wise to take steps to protect yourself. Many small businesses throughout the United States operate as general partnerships. However, very few business owners understand how to protect their legal interests should something

We at Fox and Moghul often receive queries by individuals, companies (LLCs, LP, S/C Corps) either facing an imminent judgment, or having already been subjected to a civil judgment in a court of law. In such cases, it is important for the judgment-debtor to be aware of the following key issues. When an individual receives

If you have a potential breach of contract claim against someone in Virginia, then please read this blog, as it explains an important concept in recovering damages for breach of contract under Virginia law. Hypothetical: Suppose that Microsoft has a contract with chipmaker NVIDIA to provide 100,000 computer chips for a price of $1 million.

BUSINESS ENTITIES – COMPARISON CHART Difference between S Corp and C Corp and LLC Copyright © Fox and Moghul 2020 Entity Limited Liability Company (LLC) S Corporation C Corporation Partnership Description An LLC can only be formed by making appropriate filing with the state (see below). Owners are called members and the LLC may be