EINTERZ & EINTERZ PREVENTING PROBLEMS PROVIDING SOLUTIONS
EINTERZ & EINTERZ ATTORNEYS
General purpose practice with client-centered focus and emphasis on efficiency and value
Special focus on small businesses, construction industry, labor & employment law, and litigation, including appellate work
Individual services include trust and estate planning, medical malpractice, and real estate matters
10 Business Mistakes
Universal – all industries, all owners, all personalities
Based on our experiences – from setting up to tearing down, and everything in between
Why? Understand what can happen to both avoid and prevent
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You don’t have an attorney.
“Do it right the first time and you won’t have to do it over”
Attorney as counselor, advisor
Your attorney should be able to exist in at least three arenas simultaneously:
The Courtroom
The Boardroom
The Family room
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You have an Attorney.
Poor management of relationships can cost deals, clients, thousands.
A time and place for Yosemite Sam
We’re YOUR asshole
Is there a better, more creative, more palatable solution available?
1 2 3 4 5 6 7 8 9 10
You don’t avoid the Courtroom.
Expensive, Stressful, and INSANE
Litigation is the most economically and emotionally stressful situation a small business can endure.
In our experience, even the most basic litigation requires at least $25,000 in fees alone.
Partnership with Midwest Dispute Resolutions, Inc. – Summary Arbitration
1 2 3 4 5 6 7 8 9 10
You don’t know the difference between ‘Taking the Bull by the
Horns’ and Getting Gored.
Pick your battles
Upsetting a vendor can be expensive, time consuming, and irritating
Running afoul of the IRS can leave you bankrupt, banned, and broken (in far less time)
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You don’t know the law.
1 2 3 4 5 6 7 8 9 10
EVERY business and industry has specific governing laws and/or regulations
HICA, IURC, OSHA, IDEM, IDOI, etc.
Outsourcing knowledge to an attorney is inefficient and expensive
Use your attorney to teach you WHERE to look and HOW to use the info – then contact him only for updates and issues
You don’t have a Buy/Sell Agreement.
If you don’t decide who owns and who can own your business, the courts will be happy to do it for you
Buy/Sell establishes current ownership, procedure for adding new owners, and defines who can/can’t be an owner
They are inexpensive to create, especially for single-owner businesses
Estate and Business Succession Planning
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You don’t use written contracts.
Or, you use written contracts that have not been reviewed by an attorney
Contracts define ALL rights and obligations between the parties – if you want it, need it, or hate it – WRITE IT
Without a good contract, your agreement will be interpreted (and enforced) by third parties who were not involved in the negotiation process.
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You don’t have an Employee Handbook. They’re not just for the Fortune 500
Most business will face as many lawsuits from employees as from other businesses.
Nearly every employment dispute carries the threat of attorneys fees in addition to other penalties and damages – many are also assigned to Attorney General or DOL
A well-drafted Employee Handbook is not cheap, but rarely needs substantial updates and can avoid thousands in conflicts
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You sign Personal Guaranties.
Any time you put your name on the dotted line, there is a chance you’re also putting your house, car, and cash on the line
Asserting that a debt was personally guarantied by an owner or officer is a favorite tactic of bill collectors, and difficult to defend
Carefully read every contract – ESPECIALLY form contracts – and send questionable ones to your attorney.
Avoid “Individually” “Personally” or “Guaranty”
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You think doing it the right way has to be expensive. makes it easy. They also make
it wrong.
“Good” advice doesn’t exist in a vacuum – it must also account for value. $500 of advice to save $400 is bad advice
Company Audits and Reviews – Proactive Advice Saves Money!
Your lawyer should consider themselves a business partner and invested in your success
PREVENTING PROBLEMS PROVIDING SOLUTIONS
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1. You don’t have an Attorney. 2. You have an Attorney. 3. You don’t avoid the Courtroom. 4. You don’t know the difference between
taking the bull by the horns and getting gored.
6. You don’t have a Buy/Sell Agreement. 7. You don’t use written contracts. 8. You don’t have an Employee Handbook. 9. You sign Personal Guaranties. 10. You think doing it the right way has to
be expensive.
5. You don’t know the law.
The 11th Mistake
You spend more time worrying about these mistakes than running your business.
We’re in the business of covering your ass – you need to take care of the hard part.
EINTERZ & EINTERZ PREVENTING PROBLEMS PROVIDING SOLUTIONS
www.einterzlaw.com
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