YOUR COMPANY’S LEGAL CHECKUP
A legal checkup reviews your company’s legal documents, contracts, licenses, insurance, and other compliance-related obligations. Now is a good time to review your legal documents and check your operations to make sure everything is up to date.
Each company is different. However, specific issues apply across the board, no matter how you structure your company. Here are items to review:
· When to renew business licenses, insurance policies, and other required permits.
· When to renew your business’s state registration, including required annual reports.
· Review your company’s governing agreement (e.g., operating agreement, shareholder agreement, or partnership agreement).
· Talk to your accountant about the upcoming year’s tax filings and discuss tax preparation.
· Determine if your business structure fits your development and goals.
· Identify any intellectual property that needs safeguarding.
· Review your vendor and supplier agreements.
· Review your lease agreement to determine if there are any upcoming renewal dates.
· Evaluate your marketing promotions.
· Review your staffing requirements.
Besides reviewing legal documents and processes; you can also take this time to plan. Planning allows you to set up legal compliance from the start. It takes less time and money to ensure you are running your business legally ahead of time than to go back and fix legal issues and pay penalties.
If you have any questions about your company’s legal checkup, please contact me, and I would be happy to assist.