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P. Haans Mulder, JD, MST, CFP®
Cunningham Dalman, P.C.321 Settlers RoadHolland, MI 49423(616) [email protected]
SEVEN LEGAL TIPS FOR STARTING A BUSINESS
Serving the Holland area since 1900
Background
Attorney and Partner at Cunningham Dalman, P.C.
Have a Masters in Tax (MST), am a Certified Financial Planner,TM and specialize in business and estate planning.
Serving the Holland area since 1900
Background
Cunningham Dalman, P.C. is located in Holland and has been serving the greater Holland area since 1900.
Have 15 attorneys specializing in all areas of the law.
Serving the Holland area since 1900
If you are looking for perfect safety, you will do well to sit on a fence and watch the birds.....
Wilbur Wright
Serving the Holland area since 1900
#1-DEVELOP AN AWARENESS OF LEGAL ISSUES
You cannot be expected to know the law and that’s why you hire and develop a relationship with an attorney.
Problems are much more difficult to solve than they are to avoid.
An attorney will help you identify risks or potential problems and plan to avoid or minimize them.
Serving the Holland area since 1900
#2-INCORPORATE TO LIMIT YOUR LIABILITY
Limited liability can be viewed as an additional level of insurance that protects you against business risks.
You will have a lot of protection with companies you contract with.
It will protect you personally against injuries if some else in your business (i.e. an employee) is responsible.
Serving the Holland area since 1900
#3-OBTAIN ALL NECESSARY PERMITS FOR YOUR BUSINESS
There are a wide variety of permits and licenses that are required for businesses (i.e. county, city, township, village).
Search at the state level whether you are required to obtain any licenses-www.michigan.gov/statelicensesearch.
Contact local governmental units.
Serving the Holland area since 1900
#4-FIND OUT ABOUT FINANCING OPTIONS
Can either borrow money or have money invested as equity.
Both forms of financing are important, but they oftentimes come with a cost and result in restrictions on your business decisions.
Loans are primarily with a bank and are not available unless you have collateral.
Serving the Holland area since 1900
#5-PROTECT YOUR INTELLECTUAL PROPERTY
Intellectual property law allows certain ideas and intangibles to be protected.
This includes an idea that you patent so you have a monopoly on the sale of this product for a certain period of time.
You may protect a name or symbol to use with the sale of goods or services.
Serving the Holland area since 1900
#6-DOCUMENT YOUR BUSINESS RELATIONSHIPS
You will develop business relationships with a number of companies and individuals.
This could include: employees, independent contractors, customers, vendors, etc.
Have an agreement that clearly defines the relationship and what happens if it does not work out.
Serving the Holland area since 1900
#7-DOCUMENT YOUR IMPORTANT DECISIONS AND ACTIONS
Not having something written down significantly undermines your ability to enforce a contract or protect yourself in court.
Should be as clear and as concise as possible and always date documents.
Serving the Holland area since 1900
P. Haans Mulder, JD, MST, CFP®Cunningham Dalman, P.C.321 Settlers RoadHolland, MI 49423(616) [email protected]/phaansmulder.htmLinkedInhttp://www.linkedin.com/in/phaansmulder
Serving the Holland area since 1900
Thank You
