Small businesses oftentimes rely on co-working spaces, which are facing two issues during the Coronavirus Disease 2019 (COVID-19) pandemic.

  1. Some co-working spaces are staying open in the event that any of their users provide essential services – does this warrant charging continued fees to all users? Furthermore, because shared spaces may challenge company-wide safety guidelines, does this risk the well-being of space users?
  2. Small businesses typically do not have the same degree of insurance, cash reserves, and other safeguards as large businesses. Therefore, an inability to terminate co-working space contracts early may be a significant cash burden to small businesses.

In short, small businesses should consult with counsel to better understand what rights may warrant an early termination of their overall office and other related third-party contracts to effectuate an early termination, fee discounts for the term of their corresponding contract during the COVID-19 pandemic, or a temporary cancellation of their contract.

Tags: co-working spaces, coronavirus, COVID-19, Greenberg Traurig, gt, gtlaw, gt_law, small businesses
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Photo of Nanette Aguirre Nanette Aguirre

Nanette Aguirre concentrates on private funds alternative investments with an emphasis on derivatives and structured products and corresponding regulation. Her experience includes negotiating all forms of synthetic trading including international derivative (ISDA), repos, and prime brokerage enhanced leverage arrangements with global institutions. She

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Nanette Aguirre concentrates on private funds alternative investments with an emphasis on derivatives and structured products and corresponding regulation. Her experience includes negotiating all forms of synthetic trading including international derivative (ISDA), repos, and prime brokerage enhanced leverage arrangements with global institutions. She works closely with emerging private fund managers to strategize their launch, trading and ongoing compliance. Additionally, she regularly advises on regulatory issues affecting the derivatives market, including without limitation, Dodd-Frank and related cross-border regulation. Nanette works throughout Latin America, in countries like Mexico and Colombia, as well as other emerging regions including Nigeria, advising banks, endowments, clearing organizations, and other financial institutions.

She has structured and negotiated finance and derivative transactions (including Indian and Chinese swaps, and generally, hedging securitization vehicles, credit and fund-linked derivatives, loan, credit default and equity swaps), exchange traded derivative agreements (including SEFs, and Futures and Options), repurchase agreements, securities lending agreements, prime brokerage (Reg T, Portfolio Margining and Enhanced Leverage), clearing (ISDA-FIA, DTCC, ISDA Amend/Markit.com), electronic trading agreements, tri-party and give-up arrangements. She has assembled derivative use plans for corporates, including leading insurance companies.

Nanette is an active member of the alternative investment community. Nanette sits on the board of the Florida Alternative Investment Association (“FLAIA”) and Minorities in Restructuring and Alternative Investments (“MRAI”). She also works closely with other MWBE and emerging manager associations. Prior to Greenberg Traurig, Nanette spent eleven years in the Structured Products and Derivatives department of a major New York law firm serving the financial services sector and working closely with some of the industry’s largest hedge funds, mutual funds and pension plans.

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