● BUSINESS PLANNING ● ENTITY FORMATION ● ASSET PROTECTION ● GOVERNANCE ● OPERATIONS ● POLICIES AND PROCEDURES ● REGULATORY AND COMPLIANCE ● CONTRACTS ● HUMAN RESOURCES ● FINANCE ● BUSINESS PROCESS ● TECHNOLOGY ● VENDOR RELATIONS ● TURN AROUND
My practice was built with entrepreneurial spirit, and I have had business interests which evolved into a sophisticated enterprise spanning multiple states with offices interconnected by technology. We are well positioned to represent clients with all aspects of their business, including formation, structure, contractual matters, transactional issues, finance, governance, business process, operations, technology, vendor relations, regulatory and compliance matters, and turn arounds. Our professional team includes individuals who serve on corporate boards and bring a depth and breadth of real world experience to any representation that transcends the legal aspects of the representation.
Whether you are an existing business client or you are not a client but would like to consider options concerning a web presence or technology, we have an affiliated technology company which may be able to help. Information regarding our technology products and services can be found on the website for KTECH INFORMATION SYSTEMS, LLC.
These days, most business live and die by their technology. Selection of proper technology for your business and using it to its fullest extent is a necessary and potentially confusing issue for many business owners. They say if you can’t report on it, you can’t manage it. This is very true. So having technology that supports your business activity to the maximum extent possible is an important decision that must be made. There are many issues that go into selection of technology, many of which are highly technical.
As with most things, having a plan for your business is critically important. Whether it is a plan to turn your passion and idea into a new business, or an existing business that you are operating profitably, you should have a plan that guides where you are heading. With an ever changing economic and legal environment, your business must keep pace with the latest environmental challenges and opportunities. We can assist with your planning, which should be an ongoing part of doing business.
ENTITY SELECTION AND FORMATION
Can you select and inexpensively create a business entity in which to run your business by yourself? Absolutely. But if you are concerned about the relative strengths, weaknesses, benefits and burdens of a particular business structure, we can provide perspective and guidance based upon your business activity.
Entity selection and business structure are directly related to the level of asset protection that you can expect as you set up your business. Although you love what you do, holding onto the wealth accumulated from operating your business is as an equally important concern. Proper entity selection, structure and observance of the formalities related to your chosen entity type are critically important to the level of protection your entity affords.
GOVERNANCE AND OPERATIONS
Once your business is set up, you’ll need to operating it properly, maintaining appropriate books and records and in compliance with all applicable laws. Governance and management of your business operation must be effective in providing you the information you need to make business decisions, and must be effective in providing your employees adequate guidance in how to do their jobs. This area is where most business start to have systemic problems, increased risk and potential liabilities as they scale up from a solo or “mom and pop” operation. Care must be taken to adapt your governance and management techniques keeping pace with your growing and changing business.
POLICIES AND PROCEDURES
The way you keep control of your business as it grows is through policies and procedures. The moment you cease personally performing every task necessary to the operation of your business is the moment that variances in your business process will begin to occur. Creating policies and procedures that reflect your governance and management objectives is the first step. Teaching them to your management team and staff comes next. And of course ongoing reporting and verification that policies and procedures are being followed is how you assure your management objectives are being applied to operations. Policies are critical to minimizing risk and potential liabilities in your business, and they also assure compliance with applicable laws.
REGULATORY AND COMPLIANCE
We are a society of laws. Administrative agencies at both the federal and state levels generate an overwhelming number of regulations which govern business. Understanding the regulatory environment in which your business must operate avoids potential liability due to non-compliance. Depending on your industry, there can be severe civil and criminal responsibility resulting from non-compliance.
CONTRACTS AND OPERATING DOCUMENTS
Clarity with customers, clients, vendors and employees avoids misunderstandings. Having a strong set of operating documents which support how you do business with your customers, vendors and employees ensures clarity in your business dealings and avoids legal disputes, litigation and potential liabilities. Taking the time to create strong, supportive business forms and contracts is worth the effort. Create them properly in the first place, and they pay dividends many times in the disputes they avoid.
Along with your first employee comes some very specialized compliance burdens. Payroll and tax reporting alone can be daunting. How to hire, discipline and fire employees can be tricky and sometimes counter-intuitive and may depend on how many employees you have, your industry, exempt vs. non-exempt status, union vs. non-union shop, the particular demographics of your workforce, insurance and benefit obligations, and more. Most businesses need assistance with these matters.
Things sometimes do not go quite as planned. In the event your business begins to experience difficulty, identifying the trouble as soon as possible provides the greatest opportunity to resolve the issue(s) and get back on track. The longer a business waits to address problems, the greater the chance of failure of the business. There are many things that can be done to address issues that arise, but having an objective perspective can be instrumental in a successful turn around of a troubled business.
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