SIX LEGAL TIPS FOR STARTING A
BUSINESS
FastTrac NewVenture
P. Haans Mulder
Cunningham Dalman, P.C.
321 Settlers Road
Holla...
Background
   Attorney and Partner at Cunningham
    Dalman, P.C.
   Have a Masters in Tax (MST) and
    specialize in b...
Background
   Cunningham Dalman, P.C. is located in
    Holland and has been serving clients
    since 1900
   We have 1...
If you are looking for perfect safety, you will do
well to sit on a fence and watch the birds.....
Wilbur Wright


       ...
#1-DEVELOP AN AWARENESS OF
    LEGAL ISSUES

   Planning is king because problems in your
    business are much more diff...
#2-REALIZE THAT LIMITED
    LIABILITY IS LIMITED

   This seems only intuitive, but many
    entrepreneurs believe that a...
#3-OBTAIN ALL NECESSARY PERMITS
    FOR YOUR BUSINESS

   There are a wide variety of permits and
    licenses that are r...
#4-FIND OUT ABOUT FINANCING
    OPTIONS

   You can either borrow money or invest it in
    the business as equity
   Bo...
#5-PROTECT YOUR INTELLECTUAL
    PROPERTY

   Intellectual property law allows certain ideas
    and intangibles to be pr...
#6-DOCUMENT YOUR IMPORTANT
    DECISIONS AND ACTIONS

   Not having something written down
    significantly undermines y...
Thank You
P. Haans Mulder
Cunningham Dalman, P.C.
321 Settlers Road
Holland, MI 49423
(616) 392-1821
phmulder@holland-law....
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Six Tips For Starting A Business Fast Track 090707

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Six Tips For Starting A Business Fast Track 090707

  1. 1. SIX LEGAL TIPS FOR STARTING A BUSINESS FastTrac NewVenture P. Haans Mulder Cunningham Dalman, P.C. 321 Settlers Road Holland, MI 49423 (616) 392-1821 phmulder@holland-law.com Serving the Holland area since 1900
  2. 2. Background  Attorney and Partner at Cunningham Dalman, P.C.  Have a Masters in Tax (MST) and specialize in business planning and estate planning Serving the Holland area since 1900
  3. 3. Background  Cunningham Dalman, P.C. is located in Holland and has been serving clients since 1900  We have 15 attorneys specializing in all areas of the law Serving the Holland area since 1900
  4. 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. 5. #1-DEVELOP AN AWARENESS OF LEGAL ISSUES  Planning is king because problems in your business are much more difficult to resolve than to avoid  An attorney will help you identify risks and plan to avoid or minimize them  But, your attorney will not be aware of the risks in your business unless you communicate them Serving the Holland area since 1900
  6. 6. #2-REALIZE THAT LIMITED LIABILITY IS LIMITED  This seems only intuitive, but many entrepreneurs believe that a corporation protects them from all business liability  Limited liability can be viewed as an additional level of insurance that protects you against business risks  However, like insurance, it is not bullet- proof Serving the Holland area since 1900
  7. 7. #3-OBTAIN ALL NECESSARY PERMITS FOR YOUR BUSINESS  There are a wide variety of permits and licenses that are required for businesses  Search at the state level whether you are required to obtain any licenses- www.michigan.gov/statelicensesearch  Also contact local governmental units (i.e. county, city, township, village) Serving the Holland area since 1900
  8. 8. #4-FIND OUT ABOUT FINANCING OPTIONS  You can either borrow money or invest it in the business as equity  Both forms of financing are important, but oftentimes come with a cost and result in restrictions in your business decisions  Loans are primarily with a bank and are not available unless you have collateral Serving the Holland area since 1900
  9. 9. #5-PROTECT YOUR INTELLECTUAL PROPERTY  Intellectual property law allows certain ideas and intangibles to be protected  You may protect a name or symbol to use with the sale of goods or services  You could register a patent so you have a monopoly on the sale of this product for a certain period of time Serving the Holland area since 1900
  10. 10. #6-DOCUMENT YOUR IMPORTANT DECISIONS AND ACTIONS  Not having something written down significantly undermines your ability to enforce a contract or protect yourself in court  You should be as clear and as concise as possible and always date documents Serving the Holland area since 1900
  11. 11. Thank You P. Haans Mulder Cunningham Dalman, P.C. 321 Settlers Road Holland, MI 49423 (616) 392-1821 phmulder@holland-law.com www.holland-law.com/phaansmulder.htm Linkedin-www.linkedin.com/pub/1/274/701 Serving the Holland area since 1900
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