In terms of where or how to get started, the first step to take is to make a list of all of your business contracts; actually read and prioritize them, taking into consideration the probability of default by either party. Under normal conditions, there are many clauses you may have glanced over before but are suddenly quite relevant under the lens of the pandemic, such as:
- What is going to happen if I miss my commercial lease payments?
- What happens if I can’t deliver on this contract I previously signed?
- What is ‘force majeure’?
Pitblado Law has put together a thorough summary of key issues related to the business environment created in response to COVID-19. They cover the many potential legal issues, including general business issues, contract terms, employment law and many other legal areas. The summary can be found at: https://www.pitblado.com/covid-19.