All industries have exposure in five core area: company structure; labor and employment; contracts; intellectual property protection; and leases and commercial real estate.
For example, every business should have a written owner agreement that sets out the business’s ownership, as well as tax and management structures. Without this document, a lawsuit could potentially pierce the corporate veil; in that case, a business’s owner can become personally liable to third parties.
Another example of the essential need for solid documentation when creating a business: If there are two or more owners, it is imperative to have a well-drafted, practical buy-sell agreement in place–one that deals with situations such as an owner’s death or permanent disability. The event itself is already difficult for a firm. You don’t want to add to that, by wasting company resources on disputes over a former owner’s estate.
Employment law is another potential minefield for companies caught-unaware. With few exceptions, all companies with employees must comply with federal and state labor laws. These include everything from rigorous overtime and recordkeeping requirements to allegations of discrimination. We have implement onboarding and offboarding procedures specifically designed to minimize any manufactured liability for harassment or discrimination.
You may think that intellectual property isn’t an issue for your company; however, every business markets its goods or services under a business or product name. You’ve invested in your company. You’ve worked hard to give it a great reputation and brand. Intellectual property law is key to safeguarding and increasing the value of your brand.
And almost every business either leases or owns commercial real estate. We negotiate away heavy-handed landlord provisions. We minimize any guaranty obligations. We build critical deadline checklists–so you won’t miss out on options for renewals–and more.
As an InPrime member, your legal team will uncover legal vulnerabilities, then work with you to eliminate or reduce these legal threats. Whether a concern is financial, reputational, or structural, we help your business build resilience to liability.
With the minimum wage tip credit, federal labor laws impose some additional requirements on restaurants. Navigating regulatory audits safely is imperative. Otherwise, penalties can be substantial–even business-destroying. Therefore, we perform a comprehensive FLSA audit, to ensure compliance with federal and state labor requirements.
With service-based businesses, we limit any liability for consequential damages, such as a customer’s lost profits. We also bolster payment provisions to prevent a disgruntled customer subsequently refusing to pay your fee. With your sales team, we’ll draft covenants to protect your business against unfair competition, preventing companies from soliciting your clients and other concerns.
Manufacturing & Distribution
The Uniform Commercial Code plays a key role with any manufacturing or distribution of goods. In order to make sure that the “battle of the forms” favors you, we work hand-in-hand with your sales department and key managers–to increase the likelihood that your terms prevail in the event of a dispute. For example, we’ll work with your team to handle purchase orders and quotes, and we’ll prepare your company’s terms and conditions.