Protect
officers, directors, and managers from liability;
and
E.
Substantially
reduce attorney's fees in the long run.
II. Legal
checkups examine the following issues. Click Yes or
No to the following questions to see if you would
benefit from a legal checkup.
Yes
No
Have
I conducted a legal checkup within the past 12 months?Legal checkups should take place at least once/year.
Yes
No
Is
my business incorporated?Do I understand the advantages of a limited liability
company?Am
I aware of the potential tax advantages and disadvantages
of each?
Yes
No
Corporate
protection can be eliminated if I don't keep up with
my corporate formalities.Have I recently updated my corporate minutes
book or held a shareholder/director's meeting?
Yes
No
Have
I had an outside/objective third party inspect my business
for anypotential legal liabilities?
Yes
No
Do
I have a formal step-by-step program in place to handle
customer complaints and prevent them from going to litigation?
Yes
No
Have
I had my printed forms reviewed recently?Do I understand the legal liabilities created
by use of pre-printed forms for:
1.
Sales
agreements;
2.
Purchase
orders;
3.
Office,
shop and warehouse leases;
4.
Equipment
leases;
5.
Credit
applications;
6.
Warehouse
receipts;
7.
Employment
contracts; and
8.
Distributorship
agreements.
Yes
No
Do
I have written guidelines in place to ensure compliance
with state/federal law?
Yes
No
Do
I have a compliance calendar in place?
Yes
No
Am
I monitoring legislative/judicial developments that
affect my industry?
Yes
No
Do
I have legal handbooks available for managers and supervisors?
Yes
No
Do
I update our staff with legal newsletters?
Yes
No
Do
I conduct in-house workshops or seminars to educate
and train our management team?
Yes
No
Do
I have a company policy and procedures manual?
Yes
No
Do
I have a business exit strategy plan in place - buy/sell
agreement?
Yes
No
Do
I have our insurance needs reviewed annually?
Yes
No
Do
I pay too much in business personal property tax?Am I aware of business planning strategies to
reduce my tax liability?
Yes
No
Am
I currently in compliance with state and federal laws
such as the Fair Labor Standards Act or the American's
With Disabilities Act?
If
you answered NO to three or more
of the foregoing questions, chances are it
is time for a legal checkup for your company.
It may be advisable for you to review the following
article: Protecting
Your Company's Legal Health.
This
checklist provides general information. Laws develop
over time and differ from state to state. This
checklist does not provide legal advice about specific legal problems, although
we would be happy to follow up with you in regards
to a specific issue or question you may have.We can be reached at 972-377-8181 or you may
e-mail
your questions to our office. Also,
if you want to return this checklist to us for future
follow up, please fill out the following and drop
this in the mail to our address listed above or fax
it to 972-377-0891.
