In Case You Missed It: Launch Links - March 2020 #4


Some interesting links we found across the web this week:

COVID-19: Coronavirus Response & Your Federal Tax Obligations 
As tax day approaches during a time of global uncertainty, the federal government has announced numerous changes in tax filing and payment dates in the wake of COVID-19. This alert summarizes the key federal tax developments, including the three month postponement in the due dates for both filing federal income tax returns and making federal income tax payments. It also discusses multiple stimulus legislation proposals which, among other things, have the potential to provide for cash payments through tax credits. 

COVID-19: Key Considerations for Directors
In light of the rapidly evolving COVID-19 pandemic, directors must be mindful of issues beyond the ordinary to discuss with management. This alert provides a checklist of such issues, including holding virtual shareholder meetings, shifting employment and labor rules, potential for breach of contracts, and increased cybersecurity issues that arise as the company’s employees move toward a remote work environment. 

France Pushes $4.3 Billion Support Package for Startups
As the world prepares for an economic downturn spurred by the COVID-19 pandemic, France is investing in its startups so that they can come out of the crisis stronger than ever. This Bloomberg article describes the country’s plan to target startups that were unable to obtain funding due to the decline in venture capital activity and provide them with the ability to maintain their cash level between fundraising rounds. 

What if the Founder’s Personality Is a Startup’s Liability?
Investors tend to invest in people, rather than ideas. That means that the founding team of a startup has the potential to make or break the company’s success. But what if the founder doesn’t know that they’re the hurdle standing in between the startup and its success? This article from AlleyWatch discusses one founder’s  realization that his personality was getting in the way of the organization’s potential and how he sought feedback from others in the startup as part of his introspective process. 

6 Keys to Managing Funding From People Close to You 
We’ve all heard the phrase “don’t mix business with pleasure” and how it particularly applies when going into business with friends and family. To avoid a future fallout and to manage expectations, this AlleyWatch article provides tips for entrepreneurs on how to navigate receiving funding from friends and family. The author recommends being open and professional, making sure that the terms are documented and the money is paid back promptly and with gratitude.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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