Our top 10 articles of 2020
ComplianceJanuary 12, 2021

The year in review: Our top 10 articles of 2020

The year 2020 was transformative. A global pandemic hit businesses hard. At the same time, technology and medical advancements happened at record speed, creating new opportunities and hope for the future.

To help businesses navigate this dynamic time, our experts shared a wealth of insight and information. Below, we round up some of the year’s most popular articles.

1. Small business paycheck relief: Be prepared

As the COVID-19 pandemic began to ravage the country, Congress enacted the Paycheck Protection Program (PPP). A vital lifeline for struggling small businesses, the PPP authorized up to $349 billion in loans to help business owners maintain payroll. The application process for the PPP was quite extensive and time-sensitive, so it’s no surprise that our top article of the year offered advice and tips for securing these high demand loans.

Note: There is information about the Paycheck Protection Program that has changed due to the Consolidated Appropriations Act of 2021 (the relief act reviving and funding the PPP). Learn about the 2021 Paycheck Protection Program.

2. Branch office vs. subsidiary? It’s a critical choice when expanding your business globally

There are many decisions to be made when expanding your business globally, but one whose impact is often underappreciated is whether to operate your overseas business as a branch or a subsidiary. Deciding on one versus the other can have liability and compliance consequences. In this popular article, we explain your options for organizing an office overseas and factors to consider before making a final decision.

3. Congress makes important changes to the Paycheck Protection Program’s forgiveness requirements

In June 2020, the Paycheck Protection Program Flexibility Act (PPPFA) was signed into law. The PPPFA amended several provisions of the earlier PPP to address small business concerns regarding the requirements they had to meet to receive loan forgiveness such as the percentage of loan proceeds that must be spent on payroll. This article breaks down the key details of the PPPFA and how it impacted small businesses.

4. What is an L3C (low-profit Limited Liability Company): An entity for entrepreneurs who value purpose and profits

Some people start a business to provide themselves with income; some to further a charitable or social mission. But a growing number of people want both — a business that benefits society and generates profits for its owners. States have responded to these social entrepreneurs by authorizing the formation of new “hybrid” entities known as L3Cs. If you’re a lawyer who advises entrepreneurs, this article explains all you need to know about the L3C option.

5. Getting a grip on holding companies

A holding company structure can help family-run businesses govern their multiple entities and can even strengthen family cohesion. Yet, holding companies remain a mystery to most business owners. However, when they understand both the advantages and reasons for a holding company many are willing and keen to move in that direction. We explore what a holding company is and if your family can benefit.

6. Doing business in Sweden

It seems many have their sights on doing business in Sweden! Home to the fourth most competitive economy in Europe and offering a strong business climate, Sweden has much to offer U.S. businesses and investors. This article looks at the benefits of doing business in Sweden and offers insight into the local laws, rules, and regulations that you’ll need to understand and comply with.

7. Doing business in Italy

Another popular business destination is Italy. While known for its art, food, and rich history, Italy also offers businesses well-established infrastructures for R&D, innovation and design, and a strong manufacturing base. However, Italy does have a complicated regulatory environment and high tax burden so it’s important to consider the pros and cons.

8. Going global: 7 workflow steps for expanding internationally

Going global is often a logical next step for successful businesses, but making your business run smoothly in a global environment and selling your products and services in untapped foreign markets is a significant undertaking. This article covers key considerations such as setting up a business entity overseas, auditing M&A targets, setting up a foreign bank account, navigating taxation and financial compliance, heeding laws and regulations, and more.

9. How are states addressing licensing out-of-state telehealth providers

Because of the COVID-19 crisis, many people seeking health care have had to turn to telehealth. But what happens when those services as offered digitally across state lines? Some states have waived or suspended licensing requirements for out-of-state telehealth if the provider designates a Registered Agent. This article explores how states are handling this new reality and what it means for the future of telehealth once the pandemic is over.

10. Doing business in France

One of the most visited countries in the world and boasting the third-largest economy in Europe, France is an attractive place to do business. But the process of opening a business in France as a foreign, non-EU resident can be lengthy. The country also has extensive and complex labor laws. If you’re thinking of doing business in France, check out this important guide.

What Will 2021 Hold?

After the uncertainty of 2020, what could 2021 have in store? Expect a continued focus on vaccine distribution, digital innovation, and legislative support for struggling businesses. As the vaccine roll-out commences and global travel renews, we can look forward to economic recovery and new business opportunities.

2020 year in review for corporation, LLC, and other business entity laws. Keeping track of the changes to business entity statutes is important for the company’s managers, owners, investors, and advisers. But this can be hard to do, considering how often the laws are amended and how many judicial decisions interpreting those laws are rendered each year. To help everyone keep up, CT has compiled some of the significant legislative and case law developments we have tracked and reported for you in our Resource Center throughout last year.

Rely on CT to act quickly and confidently as you conduct business around the world. We simplify the complex, with a single point of contact and the local expertise that enables you to operate in good standing.

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