P. Haans Mulder, JD, MST, CFP ® Cunningham Dalman, P.C. 321 Settlers Road Holland, MI 49423 (616) 392-1821 [email_address]...
Background <ul><li>Attorney and Partner at Cunningham Dalman, P.C. </li></ul><ul><li>Have a Masters in Tax (MST), am a Cer...
Background <ul><li>Cunningham Dalman, P.C. is located in Holland and has been serving the greater Holland area since 1900....
<ul><li>If you are looking for perfect safety, you will do well to sit on a fence and watch the birds.....  </li></ul><ul>...
#1-DEVELOP AN AWARENESS OF LEGAL ISSUES <ul><li>You cannot be expected to know the law and that’s why you hire and develop...
#2-INCORPORATE TO LIMIT YOUR  LIABILITY <ul><li>Limited liability can be viewed as an additional level of insurance that p...
#3-OBTAIN ALL NECESSARY PERMITS FOR YOUR BUSINESS <ul><li>There are a wide variety of permits and licenses that are requir...
#4- FIND OUT ABOUT FINANCING OPTIONS <ul><li>Can either borrow money or have money invested as equity. </li></ul><ul><li>B...
#5- PROTECT YOUR INTELLECTUAL PROPERTY <ul><li>Intellectual property law allows certain ideas and intangibles to be protec...
#6- DOCUMENT YOUR BUSINESS RELATIONSHIPS <ul><li>You will develop business relationships with a number of companies and in...
#7-DOCUMENT YOUR IMPORTANT DECISIONS AND ACTIONS <ul><li>Not having something written down significantly undermines your a...
<ul><li>P. Haans Mulder, JD, MST, CFP® </li></ul><ul><li>Cunningham Dalman, P.C. </li></ul><ul><li>321 Settlers Road </li>...
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Seven Legal Tips for Starting a Business

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Seven Legal Tips for Starting a Business

  1. 1. P. Haans Mulder, JD, MST, CFP ® Cunningham Dalman, P.C. 321 Settlers Road Holland, MI 49423 (616) 392-1821 [email_address] SEVEN LEGAL TIPS FOR STARTING A BUSINESS Serving the Holland area since 1900
  2. 2. Background <ul><li>Attorney and Partner at Cunningham Dalman, P.C. </li></ul><ul><li>Have a Masters in Tax (MST), am a Certified Financial Planner, TM and specialize in business and estate planning. </li></ul>Serving the Holland area since 1900
  3. 3. Background <ul><li>Cunningham Dalman, P.C. is located in Holland and has been serving the greater Holland area since 1900. </li></ul><ul><li>Have 15 attorneys specializing in all areas of the law. </li></ul>Serving the Holland area since 1900
  4. 4. <ul><li>If you are looking for perfect safety, you will do well to sit on a fence and watch the birds..... </li></ul><ul><li>Wilbur Wright </li></ul>Serving the Holland area since 1900
  5. 5. #1-DEVELOP AN AWARENESS OF LEGAL ISSUES <ul><li>You cannot be expected to know the law and that’s why you hire and develop a relationship with an attorney. </li></ul><ul><li>Problems are much more difficult to solve than they are to avoid. </li></ul><ul><li>An attorney will help you identify risks or potential problems and plan to avoid or minimize them. </li></ul>Serving the Holland area since 1900
  6. 6. #2-INCORPORATE TO LIMIT YOUR LIABILITY <ul><li>Limited liability can be viewed as an additional level of insurance that protects you against business risks. </li></ul><ul><li>You will have a lot of protection with companies you contract with. </li></ul><ul><li>It will protect you personally against injuries if some else in your business (i.e. an employee) is responsible. </li></ul>Serving the Holland area since 1900
  7. 7. #3-OBTAIN ALL NECESSARY PERMITS FOR YOUR BUSINESS <ul><li>There are a wide variety of permits and licenses that are required for businesses (i.e. county, city, township, village). </li></ul><ul><li>Search at the state level whether you are required to obtain any licenses- www.michigan.gov/statelicensesearch . </li></ul><ul><li>Contact local governmental units. </li></ul>Serving the Holland area since 1900
  8. 8. #4- FIND OUT ABOUT FINANCING OPTIONS <ul><li>Can either borrow money or have money invested as equity. </li></ul><ul><li>Both forms of financing are important, but they oftentimes come with a cost and result in restrictions on your business decisions. </li></ul><ul><li>Loans are primarily with a bank and are not available unless you have collateral. </li></ul>Serving the Holland area since 1900
  9. 9. #5- PROTECT YOUR INTELLECTUAL PROPERTY <ul><li>Intellectual property law allows certain ideas and intangibles to be protected. </li></ul><ul><li>This includes an idea that you patent so you have a monopoly on the sale of this product for a certain period of time. </li></ul><ul><li>You may protect a name or symbol to use with the sale of goods or services. </li></ul>Serving the Holland area since 1900
  10. 10. #6- DOCUMENT YOUR BUSINESS RELATIONSHIPS <ul><li>You will develop business relationships with a number of companies and individuals. </li></ul><ul><li>This could include: employees, independent contractors, customers, vendors, etc. </li></ul><ul><li>Have an agreement that clearly defines the relationship and what happens if it does not work out. </li></ul>Serving the Holland area since 1900
  11. 11. #7-DOCUMENT YOUR IMPORTANT DECISIONS AND ACTIONS <ul><li>Not having something written down significantly undermines your ability to enforce a contract or protect yourself in court. </li></ul><ul><li>Should be as clear and as concise as possible and always date documents. </li></ul>Serving the Holland area since 1900
  12. 12. <ul><li>P. Haans Mulder, JD, MST, CFP® </li></ul><ul><li>Cunningham Dalman, P.C. </li></ul><ul><li>321 Settlers Road </li></ul><ul><li>Holland, MI 49423 </li></ul><ul><li>(616) 392-1821 </li></ul><ul><li>[email_address] </li></ul><ul><li>www.holland-law.com/phaansmulder.htm </li></ul><ul><li>LinkedInhttp://www.linkedin.com/in/phaansmulder </li></ul>Serving the Holland area since 1900 Thank You
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