Day Pitney remains committed to providing quality legal counsel, while protecting our clients and employees, and transforming our communities into more just, equal and equitable spaces. For more information, please visit our COVID-19 Resource Center | Racial Justice and Equity Task Force.
In light of the unprecedented public health concerns caused by COVID-19, Day Pitney has been actively working with clients to create bespoke solutions for their businesses. One common concern shared by many of our clients is the possibility that this pandemic might cause an interruption to their business, including a forced shutdown resulting from an infected employee.
One strategy we have utilized for clients involves entering into an emergency cooperation agreement with one or more competitors. For both legal and competitive advantage purposes, we are always concerned about getting too close to competitors. However, we recognize that part of emergency preparedness involves taking precautions for worst-case scenarios, where carefully thought-out cooperation with a competitor may be justified.
Under a typical emergency cooperation agreement, the counterparties would agree to service some or all aspects of the other's business in the event of a COVID-19 induced closure. For instance, under such an agreement, a business that involves delivering packages might "outsource" vital shipments to the other party during the shutdown, or a medical provider might outsource patient care to the other party if there is a self-isolation or shutdown scenario.
Some key aspects of an emergency cooperation agreement include:
Businesses that do not already have plans in place should promptly consider their supply chains and delivery models to identify areas where cooperation with another party might make sense. These emergency cooperation agreements are only useful if put into place before you need them. And the agreement should be carefully drafted to avoid antitrust issues. We are available to swiftly draft and assist you in the implementation of an emergency cooperation agreement if you feel it would be beneficial for your business.
For more Day Pitney alerts and articles related to the impact of COVID-19, as well as information from other reliable sources, please visit our COVID-19 Resource Center.
Day Pitney sponsored the Cafecito Hour for the Hispanic National Bar Association Corporate Counsel Division's Corporate Counsel Conference and Annual Convention (CCC/AC).
Tom Goldberg was quoted in the Law360 article, "How The Legal World's Response To 2020 Differed From 2008."
April Condon, Vice Chairwoman of the Stamford Partnership, was featured in the articles, "Stamford Partnership relaunches professional development program," and "Stamford Partnership revives leadership program for Fairfield County professionals."
Day Pitney Press Release
Day Pitney alert, "SBA Safe Harbor Does Not Guarantee Free Pass For Covid-19 PPP Borrowers," authored by Rick Harris, David Waizer and Steven Cash, was mentioned in Forbes article "SBA PPP Loan Borrowers Be Warned: No Free Pass After SBA FAQ Issued."
Day Pitney Press Release