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Perkins Law Master List of Virginia Benefit Corporations Updated for 2014

Social entrepreneurship is alive and well in the Commonwealth of Virginia, as evidenced by the growing number of Virginia benefit corporations in existence (according to data from the State Corporation Commission).  Since the Virginia Stock Corporation Act was updated in 2011 to create the benefit corporation, approximately 60 benefit corporations have been formed under Virginia law.  Not too shabby, but plenty of room for growth.  If you’d like a complimentary copy of the Perkins Law Master List of Virginia Benefit Corporations, or would like to know more about benefit corporations and how they differ from traditional stock corporations, email or call anytime.

Perkins Law Ranked in “Best Law Firms” of 2015

Richmond small business and franchise law firm Perkins Law, PLLC has been recognized by U.S. News & World Report in its “Best Law Firms” rankings for 2015. “Best Law Firms” chooses lawyers based on client and peer reviews, as well as their professional excellence. The 2015 rankings included the highest number of participating firms and client ballots of record.

Perkins Law to Sponsor Upcoming Virginia Franchise Forum Event

October 31, 2014–Perkins Law is pleased to be a sponsor of the upcoming Virginia Franchise Forum event on Wednesday, November 19, 2014 from 5:30 to 7:00 pm at the Westwood Club.  The featured speaker will be Eric Simon, FRANdata Senior Franchise Intelligence Advisor.  Eric will be presenting FRANdata’s franchising year in review and 2015 forecast.  This is always a highly anticipated event on the VFF calendar, providing useful insights for both franchisors and franchisees.  The cost is $25 and includes heavy hors d’oeuvres and a cash bar.  Call (804) 783-9314 to register.  Feel free to contact me directly with questions about the VFF, which has been organizing educational and networking events for the RVA franchise community since 2008.

Congratulations to Several New Virginia 501(c)(3) exempt organizations

Perkins Law is privileged to work with many respected members of the Virginia nonprofit community, both newly formed and established organizations.  These organizations pursue charitable missions ranging from providing athletic programs and events for wounded warriors to poodle rescue (and just about everything else in between), and several have recently received their 501(c)(3) determination letters from the IRS.  Congratulations are  in order for:

Scheuer/Lincord GP Rescue, Inc.

For the Love of Poodles Rescue of Richmond, Virginia

Crossroads Adaptive Athletic Alliance

National Dance Society

Virginia Association for Health, Physical Education, Recreation, and Dance, Inc.

Five Reasons Why Local Craft Brewers Should Love Regulation D

The RVA craft brewery scene has been quite prolific in recent years with no immediate signs of slowing down.  As these startups mature into emerging growth companies (or simply look to maintain their market share in an increasingly competitive marketplace), raising capital becomes a major topic of strategic planning and discussion.  The good news is that small business owners can pursue a variety of capital-raising strategies, and tapping into the private equity or debt market through a Regulation D private offering can be an attractive and cost-effective way of raising capital.  In particular, Rule 506(c) of Regulation D offers companies the following benefits that any local craft brewery in search of capital should be aware of:

1.  The ability to raise an UNLIMITED amount of money without having to navigate the expensive and time-consuming SEC registration process.

2.  The ability to raise money from an unlimited number of accredited investors (see the article on my website discussing just about everything you need to know about accredited investors).

3.  The ability to freely advertise your offering (social media, newspapers, periodicals, seminars, etc.).

4.  The ability to avoid most state-level securities regulation (other than notice filing and fee requirements) during the offering process.

5.  The ability to market and sell the offering yourself (without third-party intermediaries) under certain circumstances.  In some situations, however, you might want (or need) to sell through third-party broker-dealer firms to have a successful offering.

Check out the other Regulation D private offering resources available at www.ericperkinslaw.com or the Perkins Law channel on YouTube.

Polaroid Photobar–New Franchise Concept (that I’d like to see in RVA)

Were you like me and thought the storied Polaroid brand had vanished about the same time as Atari and Intellivision?  To the contrary, Polaroid lives and is  rolling out a national franchise program.  The Polaroid Photobar (www.polaroidfotobar.com) is an innovative concept where customers can instantly print high-quality photos from their smartphones and social media sites.  Outdated fad doomed for failure or creative strategy that will fill an unmet need in the market?  Time will tell, but hopefully we will see a Polaroid Photobar join the RVA franchise community in the near future.

National trade association REISA rebrands itself as ADISA–Alternative Direct Investment Securities Association

Eric Perkins served as panelist at Sunday’s Real Estate Investment Securities Association Annual Conference at Caesar’s Palace in Las Vegas. Over 1,000 leaders of the alternate investment industry attending. Lots of exciting news about Regulation D, crowdfunding, accredited investor standards, and other JOBS Act developments.

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Lobs and Lights on Saturday Night, October 25

Calling all RVA tennis fans and community supporters!  Come out to celebrate the 10-year anniversary of Lobs & Lessons on Saturday, October 25 with a nighttime glow-in-the-dark experience! This illuminating event—first of its kind for the RVA tennis community—will showcase the sport in a fun and innovative way you’ve never experienced before! Perkins Law is excited to be a sponsor of “Lobs and Lights,” which will feature a Youth Glow Zone for kids from 8:00-9:30pm and Adult Neon Tennis from 9:30pm-midnight. Plenty of other games and activities are planned as well. Visit http://www.vcuyouthcenter.org/events/lobs-lights/ for more details and to register.

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Sneak preview of discussion topic at the October 16 Catalyst Conference—How important is a strong commitment to business ethics to the success of your company?

Richmond business attorney Eric Perkins will be addressing that topic during a panel discussion titled “The Life Cycle of a Business” featuring RVA business owners Moses Foster, Melissa Ball, Rick Jarvis and Steve Rosser. Eric will share a few tips on developing a corporate culture of integrity within the workplace and offer some sobering statistics on what can happen to a business where ethical business practices are not a point of emphasis. Want to hear what it feels like to help send your boss to prison for 100 years? Then this is a panel discussion you don’t want to miss. Visit http://www.henricostrong.com for more details and to register.

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Local Franchise Owners to Share Insights at Upcoming Virginia Franchise Forum Event on Wednesday, September 17 at The Westwood Club

Interested in hearing real-life stories of the highlights and challenges of franchise ownership? Join the Virginia Franchise Forum on September 17 from 5:30-7:00pm at The Westwood Club for an interactive panel discussion moderated by Tom Lawrence and featuring some of RVA’s most well-known franchise owners: Mark Smith (Midas Mufflers), Mort Mumma (Batteries Plus Bulbs), and Bill Sroka (FASTSIGNS). Cost is $25 per person (includes heavy hors d’oeuvres and cash bar). To register call (804) 783-9314.