Governance and Record-Keeping

 

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When you created your small business, you probably set it up as an LLC or corporation. You may have done this for tax reasons, or to limit your personal liability in the event of a problem, or for any number of other reasons. However, what you may not have been told is that in order to maintain those purposes, it is essential that your corporate paperwork be up-to-date and complete. If you do not maintain current books and records, or if you co-mingle your personal funds with business funds without appropriate accounting paperwork, you jeopardize losing the legal benefits of your LLC or corporation.

Annual reports must be filed with the Secretary of State in order to maintain the good standing of your company. Personal loans that you make to your company must be documented. If you are a corporation, you need to have records of annual meetings of shareholders and directors. If you sell pieces of your business to others, these need to be reflected in writing, possibly with the issuance of shares of stock. If you enter into a joint venture or partnership, the rights and obligations of all parties need to be detailed in writing.

It is the job of a General Counsel to draft and maintain the business paperwork that is required to preserve the status of the company and to memorialize all transactions of significance relating to governance of the company. Your lenders and investors expect you to do this and may even demand it. The small business lawyers at DailyGC™ can do this for you, so that your company’s records always are current and accurately reflect those matters that the law requires to be committed to writing. We also can provide you with templates for such things as promissory notes, annual reports and meeting minutes, so that you can take care of these things in the future without engaging legal counsel to do it for you.

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PRIORITY ISSUES DESCRIPTIONS
At DailyGC, we provide legal advice and counsel on the full range of legal problems and legal-related business issues that small businesses and startups routinely face in their management, sales, operations and administration. The following are examples of these kinds of problems. You may use these descriptions on your Priority Issues Identifier Form� or you may write your own descriptions.
Business Contracts and Relations:
� Customer Contracts and Disputes
� Vendor Contracts and Disputes
� Collections
� Bank/Lender Relations and Issues
� Landlord/Tenant Relations and Issues
� Bonding/Insurance
� Nondisclosure and Confidentiality Agreements
� Procurement and Management of Outside Counsel
Employment:
� Recruiting/Hiring Practices
� Employment Agreements
� Employee Compensation and Benefits
� Employee Manuals, Policies and Procedures
� Compliance with Government-Required Benefits Programs
� Payroll Compliance with Court Orders
� Discrimination and Harassment Claims
� Management and Discipline of Problem Employees
� Terminations
� Unemployment Insurance Claims
� COBRA Procedures
� Hiring Independent Contractors
Dispute Resolution:
� Case Analysis and Assessment
� Mediation/Arbitration
� Strategies for Litigation, Discovery and Negotiation
� Settlement Analysis
General Corporate:
� Entity formation
� Corporate Governance and Record-Keeping
� Shareholder Relations
� Compliance with Governmental Regulations
� Compliance with Corporate Contractual Obligations
� Contract Review, Analysis and Negotiation Coaching