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Seven Legal Tips for Starting a Business
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Seven Legal Tips for Starting a Business

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  • 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. 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
  • 3. 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
  • 4.
    • 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
  • 5. #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
  • 6. #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
  • 7. #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
  • 8. #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
  • 9. #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
  • 10. #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
  • 11. #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
  • 12.
    • P. Haans Mulder, JD, MST, CFP®
    • Cunningham Dalman, P.C.
    • 321 Settlers Road
    • Holland, MI 49423
    • (616) 392-1821
    • [email_address]
    • www.holland-law.com/phaansmulder.htm
    • LinkedInhttp://www.linkedin.com/in/phaansmulder
    Serving the Holland area since 1900 Thank You

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