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Entrepreneurs

Starting a business can be a daunting task for even the most astute entrepreneur. Creating the proper foundation for your business from the beginning requires discipline and assistance from a business lawyer. We highly recommend reviewing your business concept with an experienced business lawyer and discuss the four foundations we recommend for every business we represent: (1) Entity Formation, (2) Contracts, (3) Personal and Succession Planning, and (4) Insurance.  We also recommend entrepreneurs take advantage of our monthly retainer plans to help minimize up front legal costs and ensure adequate legal assistance throughout the fledgling years of your business.

Entity Formation

Incorporation is a legal means by which a legal entity may be created and authorized to conduct business with limited liability to its owners/shareholders.  Incorporating a business is the easiest and most cost-efficient way to separate your personal liability from the liability of your business.  There are many different entity choices that have several considerations to review, such as corporate governance structure, tax implications, transferability, liability, continuity of life, management structure, classes of ownership, etc.  We advise on the business startup and formation process as well as issues related to selection of entity type and jurisdiction, including:

  • Subchapter C-corporation formation
  • Subchapter S-corporation formation
  • Limited liability company (LLC) formation
  • Partnership formation (including LLP)
  • Stock purchases
  • Asset purchases
  • Joint ventures

Contracts

Part of the formation process is deciding how the owners of a business will operate with each other, employees, and customers.  Co-owners or partners should decide on many of the corporate governance issues prior to the formation process and establish a written operating agreement or set of bylaws to govern the decision making process and management structure of the business.  From there, every business will have specific contractual needs whether a contract to use when transacting with customers or employment agreements and policy manuals for employees.  Employment law itself should be reviewed on an ongoing basis to ensure compliance with federal, state, and local laws.

Personal and Succession Planning

At the heart of every small business are its owners.  To avoid "going concern" issues with management should a key member become unable to work we advise setting up interim and permanent succession planning protocols for each owner.  Personal and Succession Planning is often made part of the operating agreement, but also includes estate planning for closely held, family, and small businesses.

Insurance 

Understanding the relationship between insurance, business, and the law is an integral part of business planning.  Most business will require some form of General Liability and Worker's Compensation coverage.  Our firm takes the time to review your insurance needs and even help discuss your needs with an appropriate insurance agent.  Insurance agreements are also complex legal documents that our office can help explain or assist as part of a claim process.  If you or your company is involved in an insurance claim or your claim has been denied please consult an insurance coverage attorney.

 

Our firm advises and represents companies and entrepreneurs with a broad range of business related services.  We advise business owners, entrepreneurs and managers on business law, start-up assistance including the formation of an entity and on the protection of a trademark or license agreement.  We also assist with the process of buying or selling a business.

 

 


Our office is conveniently located in Newport, Kentucky (less than two miles from downtown Cincinnati), but we handle cases throughout the states of Ohio and Kentucky. We also routinely meet with our clients at their offices or homes if more convenient.



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102 Fairfield Ave., 2nd Floor, Bellevue, KY 41073
| Phone: (859) 757-1240

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