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How to Break Up with Your Business Partner
Explore legal issues of a business breakup caused by a deadlock among owners
Joel Ankney
Oct 31, 20244 min read
9 views
0 comments


FTC Non-Compete Model Notice Language
Federal law requires employers to notify workers that their non-competes are no longer enforceable
Joel Ankney
Aug 14, 20242 min read
33 views
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No More Non-Competes for Most Employees and Contractors
On April 23, 2024, the Federal Trade Commission ("FTC") banned non-competes for most workers. The FTC's new rule prohibits...
Joel Ankney
Aug 14, 20242 min read
43 views
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I Represent Sellers
I love representing sellers of small businesses. The first transaction I led as a young lawyer was the sale of an egg farm for about $10...
Joel Ankney
Apr 8, 20242 min read
9 views
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How Firm Are Closing Dates?
When you buy or sell a small business, your letter of intent and purchase agreement will typically establish a closing date - a specific...
Joel Ankney
May 15, 20232 min read
54 views
0 comments


What Does a Lawyer Do in an SMB M&A Transaction?
Buyers and sellers of small businesses often ask me what I will do for them if they engage me to represent them in the transaction. I...
Joel Ankney
Jan 23, 20232 min read
90 views
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Can I Get Paid If We Don't Close?
Sellers often ask if they can get their costs and expenses (e.g., accountant's fees, attorney's fees, etc.) paid or reimbursed if the...
Joel Ankney
Oct 1, 20222 min read
42 views
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Are Letters of Intent Binding?
Yes and no. Some provisions in a letter of intent should be binding, while others should not, and the letter of intent should clearly...
Joel Ankney
Apr 28, 20221 min read
37 views
0 comments


Should I Agree to Seller Financing?
If you are selling a small business, the buyer might ask you to take a promissory note from it for part of the purchase price. This is...
Joel Ankney
Apr 25, 20223 min read
233 views
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The Costs of Contract Enforcement
Clients often ask me to draft "ironclad" or "bulletproof" contracts or contracts "without any loopholes." They want to make sure the...
Joel Ankney
Feb 28, 20223 min read
223 views
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Do I Need a Letter of Intent?
Most of the deals I close use a Letter of Intent (LOI). Technically, the law does not require you to use an LOI, but here are some things...
Joel Ankney
Feb 1, 20223 min read
189 views
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3 Things I Learned When Leading My First M&A Deal
When I was a younger lawyer, the partner I worked for assigned me to be the lead lawyer on my first M&A deal. We were representing the...
Joel Ankney
Jan 10, 20222 min read
67 views
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Purchase Price Doesn't Determine Legal Fees
You might think that the lower the purchase price of a business or real estate, the lower the legal fees. In other words, you might...
Joel Ankney
Dec 29, 20211 min read
19 views
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3 Tips for Confidentiality Agreements
You might be asked to sign a confidentiality or non-disclosure agreement if you are exploring the purchase or sale of a business, a joint...
Joel Ankney
Nov 16, 20212 min read
39 views
0 comments


Which State to Use for Your LLC or Corporation?
You may hear and see a lot of trendy advice about creating your LLC or corporation in a state where your business is not located, like...
Joel Ankney
Mar 13, 20212 min read
89 views
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What You Should Know About Registered Agents
I serve as a Registered Agent for many Virginia limited liability companies and corporations. I'm often asked the following questions...
Joel Ankney
Mar 13, 20214 min read
626 views
0 comments


Teaser: M & A Unplugged Podcast Interview
Last week, Domenic Rinaldi interviewed me about my book, Here's the Deal: Everything You Wish a Lawyer Would Tell You About Buying a...
Joel Ankney
Mar 13, 20211 min read
26 views
0 comments


How a Checklist Can Help Your Deal
Deals have lots of moving parts, no matter the size of the business or the size of the deal. Lots of issues move simultaneously. Losing...
Joel Ankney
Mar 13, 20212 min read
31 views
0 comments


What's a Russian Roulette Deadlock Clause?
If your LLC or corporation has two or more owners, you can get stuck (deadlocked) on making a decision or taking action if no one has...
Joel Ankney
Mar 13, 20212 min read
2,649 views
0 comments


Is Your DIY Contract Enforceable?
I get it. You probably have a degree or two. You've probably looked at a lot of contracts in your career. You probably write well. It's...
Joel Ankney
Mar 13, 20213 min read
16 views
0 comments
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