commercial attorney – Young Law, PLLC

Due Diligence When Buying a Business in Virginia | Ryan C. Young | Richmond, Virginia Business Attorney

February 1, 2017October 10, 2019 Ryan C. Young, Esq.

What does due diligence entail when buying a business? So, you’ve decided to take the plunge and purchase an existing business. Congratulations! Before you sign anything, you have the opportunity to research the company to verify that it is a good investment. The generally accepted term for this type of research is due diligence. This is your chance to look... Read More

Judicial Dissolution of an LLC in Virginia | Ryan C. Young | Richmond, Virginia Business Attorney

January 27, 2017October 10, 2019 Ryan C. Young, Esq.

What happens if LLC Members cannot agree? In Virginia, a Limited Liability Company (LLC), may be dissolved for many reasons, but when there are irreconcilable differences between or amongst owners (members), judicial intervention may be the only remedy. A member may, in accordance with the operating agreement and articles of incorporation, petition a court of competent jurisdiction for dissolution. In... Read More

What are the reasons that an LLC may be dissolved in Virginia? | Ryan C. Young | Richmond, Virginia Business Attorney

August 24, 2016October 10, 2019 Ryan C. Young, Esq.

In Virginia, an LLC may be dissolved for many reasons both voluntary and involuntary. Businesses come and go in a healthy economy, and Virginia’s Legislative Code (§§ 13.1-1048 – 13.1-1050) has provisions to make the dissolution of a business a relatively easy process in most cases. In the most amicable of situations, an LLC is concluded upon the completion of... Read More

Virginia Business Dissolution: What happens when business co-owners can’t agree? | Ryan C. Young | Richmond, Virginia Attorney

December 23, 2015October 10, 2019 Ryan C. Young, Esq.

Virginia Business Litigation Attorney: When business partners can’t agree, what happens with the business? Note: In this article, I use the term “partner” and “partnership agreement” loosely. The rules governing each are slightly different. For example, dissolution of a general partnership will be slightly different than for a stock corporation. Business partnerships can go wrong for many reasons. When you are in... Read More

Virginia Employee Law: Employee Duty of Loyalty to Employer | Ryan C. Young | Richmond, Virginia Business Attorney

September 30, 2015October 10, 2019 Ryan C. Young, Esq.

Matthew 6:24: “No one can serve two masters.”* *I did not include the Bible verse above in an attempt to win converts. This verse (or at least the concept) has often been used by Virginia courts in the past when explaining the common law duty of loyalty that an employee owes to their employer. When a job applicant is searching for employment,... Read More

Legal considerations when buying an existing business. | Ryan C. Young | Small Business Attorney | Richmond, Virginia

December 9, 2013October 10, 2019 Ryan C. Young, Esq.

Buying an existing business can be enormously rewarding. You won't face the challenges of establishing a company from scratch, along with the massive time commitments needed to create dynamic business plans, finding lenders or investors--or both--and all the minutia of launching a business from ground up. Read More

Legal considerations when transferring your business to a successor. | Ryan C. Young | Business Legal Planning | Richmond, Virginia Attorney

December 3, 2013October 10, 2019 Ryan C. Young, Esq.

Business succession planning is a critical, but often overlooked, factor in companies having long-term viability. If you are the primary owner and officer of a business, having a successor is even more vital. According to a recent article in Entrepreneur Magazine, over 25 percent of family-owned businesses lack written succession plans. Even those owners facing their senior years, have yet... Read More

Planning a legal exit strategy for your business. | Ryan C. Young | Richmond, Virginia Attorney

November 25, 2013October 10, 2019 Ryan C. Young, Esq.

You Need a Business Legal Exit Strategy When you have partners or co-owners in your business, you should create an exit strategy to extricate yourself from the company in a legal, workable manner. If you never envisioned leaving this business after you founded it, take heart. You’re not alone. Few entrepreneurs consider ever leaving a business they create. However, many... Read More

List of Corporate Formality No-Noes | Ryan C. Young, Attorney | Virginia Business Attorney | Richmond, Virginia

July 17, 2013October 10, 2019 Ryan C. Young, Esq.

Important Corporate Formalities in Virginia for LLCs and Corporations. The biggest advantage of forming a corporation or LLC is that you protect your personal assets. The Corporation acts as a shield protecting you and your family from personal liability. However, in order to have this protection, you must show that the Corporation is not a sham or your alter ego... Read More

What steps do I need to take to dissolve (close) my business? | Ryan C. Young | Richmond Business Attorney

March 15, 2013October 10, 2019 Ryan C. Young, Esq.

Closing a Business in VirginiaRyan C. Young Business Law There are numerous reasons for dissolving a business. Dissolving a business is the legal term for formally shutting down a business, sometimes the process is known as the dissolution of a business. Small and medium-sized businesses often have more than one owner. The first step towards dissolution is having all... Read More

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