MuellerBusinessChecklist
2
414.435.1111 www.muellersc.com THE BUSINESS CHECKUP — AN INTERNAL REVIEW 1 of 2 BUSINESS STARTUP Is your choice of business entity appropriate? Does your business have a federal tax ID (EIN)? Do you have articles of organization or incorporation? Do you have bylaws or an operating agreement? Are your corporate records (minutes and resolutions) up to date? Do you have a shareholder or buy-sell agreement that is current and up to date? Are you using your limited liability designator (LLC, Co., Corp., LP) properly? Are business assets properly titled in the name of the entity? Is your business adequately capitalized to limit liability? Do you have all necessary licenses and registrations? Do you have separate business bank accounts? Have you submitted all required annual reports? EMPLOYMENT MATTERS Do you have a written employee handbook? Has the handbook been updated within the last year? Do you have current state and federal employee rights posters? Do you have a written policy for employee discipline and termination? Do you have a written policy regarding vacation, sick leave and overtime pay? Have the policies been reviewed by legal counsel? Do you have an established process for terminating employees? Are you using correct documents when terminating employees? Is it appropriate to have any employees sign employment agreements? Is it appropriate to have any employees sign non-compete agreements? Have all non-compete agreements been reviewed by an attorney within the last year? Do you need any employees to sign confidentiality agreements? Do you need any employees to sign non-disclosure agreements? Should you have any employees sign non-solicitation agreements? Do you have any independent contractors? Are any independent contactor relationships documented correctly? CONTRACTS, TERMS & CONDITIONS Do you have standard forms or contracts that are used regularly? Have your forms or contracts been prepared or reviewed by legal counsel? Do you have standard terms and conditions included in invoices or other contracts? Have those terms and documents been prepared or reviewed by legal counsel? Do your agreements contain terms that limit your liability? Do your terms allow you to collect legal fees and expenses if payment is not made? Do your contracts require others to indemnify your business? Do your agreements limit the amount of damages that can be claimed against you? Are all contracts in the name of the proper legal entity? Have you reviewed your process for collecting unpaid balances? @Mueller_SC 414.435.1111 [email protected]
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Transcript of MuellerBusinessChecklist
414.435.1111www.muellersc.com
THE BUSINESS CHECKUP — AN INTERNAL REVIEW 1 of 2
BUSINESS STARTUPIs your choice of business entity appropriate?
Does your business have a federal tax ID (EIN)?
Do you have articles of organization or incorporation?
Do you have bylaws or an operating agreement?
Are your corporate records (minutes and resolutions) up to date?
Do you have a shareholder or buy-sell agreement that is current and
up to date?
Are you using your limited liability designator (LLC, Co., Corp., LP)
properly?
Are business assets properly titled in the name of the entity?
Is your business adequately capitalized to limit liability?
Do you have all necessary licenses and registrations?
Do you have separate business bank accounts?
Have you submitted all required annual reports?
EMPLOYMENT MATTERSDo you have a written employee handbook?
Has the handbook been updated within the last year?
Do you have current state and federal employee rights posters?
Do you have a written policy for employee discipline and termination?
Do you have a written policy regarding vacation, sick leave and
overtime pay?
Have the policies been reviewed by legal counsel?
Do you have an established process for terminating employees?
Are you using correct documents when terminating employees?
Is it appropriate to have any employees sign employment agreements?
Is it appropriate to have any employees sign non-compete agreements?
Have all non-compete agreements been reviewed by an attorney
within the last year?
Do you need any employees to sign confidentiality agreements?
Do you need any employees to sign non-disclosure agreements?
Should you have any employees sign non-solicitation agreements?
Do you have any independent contractors?
Are any independent contactor relationships documented correctly?
CONTRACTS, TERMS & CONDITIONSDo you have standard forms or contracts that are used regularly?
Have your forms or contracts been prepared or reviewed by
legal counsel?
Do you have standard terms and conditions included in invoices or
other contracts?
Have those terms and documents been prepared or reviewed by
legal counsel?
Do your agreements contain terms that limit your liability?
Do your terms allow you to collect legal fees and expenses if
payment is not made?
Do your contracts require others to indemnify your business?
Do your agreements limit the amount of damages that can be
claimed against you?
Are all contracts in the name of the proper legal entity?
Have you reviewed your process for collecting unpaid balances?
@Mueller_SC414.435.1111 [email protected]
INTELLECTUAL PROPERTYShould you protect a trade or brand name or phrase with a trade or
service mark?
Do you have any information that should be protected by copyright?
Is there a product, process or formula that your business should
patent?
Is the licensing of any of your intellectual property appropriate?
Do you have trade secret or confidential information important to
your business?
Do you have a plan and process in place to protect that information?
414.435.1111www.muellersc.com
REAL ESTATEHave you recently evaluated ownership versus leasing?
Could you benefit from a ‘sale and leaseback’ with a third party or
related entity?
Have your leases been prepared or reviewed by legal counsel?
Are your leases up to date?
RISK MANAGEMENT & INSURANCEDo you have a plan in the event of the death of an owner?
Do you have a plan in place in the event an owner is injured or disabled?
Are all beneficiaries of any insurance policies current and up to date?
Are you complying with the Patient Protection and Affordable Care
Act (PPACA)?
Do you have in place, or have you evaluated, these types of liability
insurance:
General
Contractual
Professional
Director and officer’s
Umbrella
Do you have in place, or have you evaluated, the following types
of insurance:
Independent Contractors
Worker’s Compensation
Auto
Property
Crime
Health
Life
Disability
Do you have a business attorney?
Do you have an accountant to review payroll, bookkeeping, finance
and tax matters?
Do you have an insurance agent?
THE BUSINESS CHECKUP — AN INTERNAL REVIEW 2 of 2
@Mueller_SC414.435.1111 [email protected]
YOUR FUTURE. OUR FOCUSOur firm serves businesses ranging from startups and small family owned companies to Fortune 500 corporations. We help identify and resolve potential legal problems efficiently with smart, reliable legal services.
