Understand Your Lease, Cover Your Assets
Live webinar
Free but registration required
Small businesses that require office space, retail storefronts, warehouses or workshops typically sign leases to occupy the property. If the business owners are only focused on “making the rent” next month, there may be larger risks and consequences of not understanding the requirements of the lease and failing to get professional help for evaluating or negotiating it.
Whether you are planning to lease, preparing to renew or hoping to terminate a commercial lease you’ll learn about:
- How personal guarantees work, when business owners remain liable after closing, and what happens if a landlord accelerates the remaining rent after default.
- How narrow “use” clauses can restrict the services you are allowed to offer, limit your ability to pivot in a downturn, prevent adding new revenue streams, or block you from licensing space or subleasing to offset costs.
- Assignment restrictions, sublease approval requirements, landlord recapture rights, and continuous operation clauses that may require you to stay open even when revenue declines.
- How short grace periods, broad default definitions, and one-sided attorney’s fee provisions can turn temporary cash flow issues into significant legal exposure.
- Responsibility for HVAC and major repairs, shared building costs in older Connecticut properties, and ensuring insurance coverage aligns with lease indemnification and additional insured requirements.
Tony N. Woolard is an award-winning attorney and founder of Harborage Law, PLLC, where he focuses on intellectual property, contracts, and business law for entrepreneurs and growing companies. He previously served as in-house IP counsel for Genus PLC, leading global intellectual property and licensing initiatives and negotiating complex commercial agreements. A graduate of Harvard University (magna cum laude) and Roger Williams University School of Law, Tony is admitted to the Connecticut Bar and the United States Patent and Trademark Office. He is also a Certified Patent Valuation Analyst and trained mediator, recognized nationally for his leadership and impact in the legal profession.