HIGHLIGHT CORNER Top Ten Lessons for Businesses From the Covid-19 Crisis JEFFREY H. MARCUS 1. Crisis management teams and plans are necessary and important for all businesses. If your business has not done so yet, form a team and have a plan that are both fit for purpose for your business in case of a crisis. you need help, hire a PR firm, preferably with your industry experience. 2. Establish a central command or clear- inghouse function within your crisis management team, that filters and man- ages all incoming information about the crisis and distributes such information to both the team and the proper sup- porting functions with a need to know. 5. Reach out to your industry associations, groups, chambers of commerce for infor- mation sharing and creative solutions. 3. Clear, truthful, timely and useful com- munications with all stakeholders is critical. The list includes, at a minimum, customers, employees, shareholders, ven- dors, suppliers, distributors, banks and other lenders, landlords, and regulators. If 4. Utilize technology optimally to commu- nicate with all stakeholders during the cri- sis. 6. Review your business insurance policies with an insurance professional to explore ways to address business interruptions and coverage issues optimally. 7. Include “pandemics, infectious diseases, and government mandated business closures” in all future force majeure clauses in all contracts. E xpEriEncEd c ourt A ppointEd 9. Take the time to practice mindfulness during the crisis. It will relieve stress and help your team make better decisions. 10. Expect to weather the crisis. Visualize the other side of the crisis. Jeffrey H. Marcus is in solo practice in Wellington. His practice focuses on business law, employment law, equine law and mediation. He is a Florida Supreme Court Civil Circuit Certified Mediator. He is admitted in Florida, New York and Pennsylvania. Jeff may be contacted at [email protected] His website is at https://marcuslawoffice.com. W. Jay Hunston, Jr. RECEIVER • • • • • • • • • 8. Be honest and helpful in all that you do during and after the crisis. It will matter to your stakeholders. Mediator/Arbitrator Receiver - 17th Florida Judicial Circuit Receiver - 19th Florida Judicial Circuit 30 Year Florida Commercial Real Estate Broker Multi-Family, Office, Industrial, Retail Palm Beach, Broward, Treasure Coast Counties CCIM Designation, Expert Witness Diversified Business Experience Former Director, Realtors Assoc. of Palm Beach Former President, RAPB Commercial Alliance Edward A. Kearney President Since 2001, limiting his practice to all forms of effective dispute resolution, including mediation, arbitration, special master, and private judging services. • • • • • • • • Kearney Commercial Realty, Inc. 3017 Exchange Court, Suite D West Palm Beach, FL 33409 (561) 252-2502 [email protected] PBCBA BAR BULLETIN J.D., Stetson Univ. College of Law Fla. Bar Bd. Cert. Civil Trial Lawyer, 1983-2003 Fla. Cert. Circuit Civil, Appellate & Family Mediator Member, AAA Roster of Neutrals for Commercial and Construction Arbitration and Mediation Qualified Fla. Arbitrator FINRA Approved Mediator Statewide Per Diem Rate Available Upon Request Hourly Rates Available (No Charge for Travel Time Within 15th, 19th, and 17th Circuits) P.O. Box 508, Stuart, FL 34995 (772) 223-5503; (800) 771-7780 - Office (772) 223-4092 - Fax Email: [email protected] Website/Online Calendar: www.hunstonadr.com 23