Kim is a specialist in the legal aspects of small businesses and nonprofit organizations . Her services in these areas vary based on the industry and environment of the business that her clients are in. Kim’s experience allows her to be flexible when taking on clients and her previous clients come from a variety of fields and areas. Your particular situation may be unique but chances are Kim can find a solution that fits your business perfectly.
Some common legal matters that Kim encounters in representing both for-profit businesses and nonprofit organizations and can help you manage include the following:
Entity Formations
The first part of starting a new business is deciding which model works with your business plan. There are many advantages and disadvantages to deciding whether your business would best be run as a sole proprietorship, partnership, limited liability company or corporation. Selecting the right type of nonprofit organization is also a critical first decision. Kim’s experience grants her insight when helping clients determine the entity that is best for their business. This is an essential piece of the puzzle which will impact the very fiber of your business from the first day.
Business Transactions
Some business transactions are simple and straightforward. Others are more complex. And there are always delicate cases which should be handled with care. No matter the scale of the transaction, ensuring that the deal is done legally and correctly for financial and accounting reasons can make all the difference in the long run. Kim has encountered and worked with many different types of business transactions and knows which ones are safe, which ones may cause you trouble, and how to alter the terms of transactions to maximize returns for both parties.
Contract Drafting and Review
Contracts are legally binding promises that are an intricate part of operating a business. Crafting the perfect contract is not a simple endeavor. Being able to see the big picture can be difficult if you have limited experience in the complexities of contracts. At times, it may even be beneficial to get out of a contract or have it altered for your own benefit. Kim is the extra ingredient that will help you discover the blind spots, weaknesses, and missing components of a contract that you’re engaged in or considering engaging in. You can rely on Kim to provide the crucial advice you need.
Corporate Governance
The impacts of a corporate structure can be far reaching and if not governed correctly, serious legal ramifications may occur. Clearly defined roles and relationships are fundamental aspects of any corporation . While conflicts are bound to happen, it is important that your corporation is designed to handle these conflicts constructively and in a timely manner. A well maintained, functioning corporation can be the difference between success and failure when it comes to competing in your industry and maintaining the foothold you worked so hard to establish. Kim’s experience in analyzing how a corporation is governed allows her to provide key information into the legal issues that may occur from your governing structure. While it may be necessary to alter it, it is equally as important to ensure that it is altered in the best manner so that all parties are well represented and accounted for legally.
Corporate Maintenance
Once you have set up your corporation , the work doesn’t stop. Corporate maintenance requires that you keep up with specific necessary documents to account for any major decisions or alterations. This includes any government documents that are mandatory for your corporation to function in accordance with the law. Kim has found that not staying current with corporate maintenance is detrimental and can result in fines or suspension of a corporation. Knowing what documents need to be filed and when to file them is a key component of Kim’s work in corporate maintenance. Assisting her clients every step of the way of corporate maintenance has been a key component of the success for many of her clients.
Business Compliance and Regulations
The policies and laws of today’s world makes running a business or nonprofit much more complicated than it used to be. From environmental regulations, labor regulations, financial regulations, and everything in between, maneuvering through the limitless list of regulations in your industry can be a daunting task. Learning to adopt vital compliance practices that are well within the law is one of the foremost important tasks when you are running a business. Kim’s experience in a variety of industries, allows her the capability to help filter and find the most essential regulatory issues that you may encounter. Kim’s work keeps you focused on the right issues at the right time, assuring your compliance procedures fall in line with the law. No more wasted time and effort on following regulations and codes that don’t impact your business. No more using faulty compliance systems which require more work on your part. Kim will give you the tools to be efficient and effective with your resources.
Commercial Law
Commercial law is a very broad term that encompasses the regulation and governing of commercial transactions. This includes a wide range of topics including shipping goods, receiving goods, accident insurance, hiring, contracts, manufacturing, sales, and a plethora of aspects that differ from case to case. While it can be confusing at times, Kim will carefully examine and research the legal aspects of your case in detail. This will help you make the best business decisions possible, within the confines of the law. No matter how confused or uncertain you are, Kim’s ability to break down the issues assist you when making choices that help your business flourish.
Entity Conversions and Changes,
Business naturally has a dynamic nature; year to year, month to month, week to week, and even day to day. The type of entity you choose for your business can have a long term consequences and may hinder the success of your business, if not done wisely. When opportunity knocks, and you have to convert or change your business plan, you don’t want to lose your chance because you got lost in the process. Figuring out the regulations behind changing entities can be an intimidating task in itself. With Kim you will know the benefits and limitations of each business entity and what is needed to change the structure of your business. You will be provided with the best advice for how to actually modify your business to maximize your goals and objectives.
Purchase or Sale of Business
Purchasing a business can come with many questions about the past, present, and future status of the business in question. Understanding what you are actually acquiring from the purchase of a business may impact your decision making process. Kim not only helps complete all necessary documentation but also helps determine what assets, loans, leases, interest, and liabilities you are acquiring along with the business. Whether you are purchasing or selling a business, the peace of mind that your transaction was closed effectively and without future liabilities is well worth seeking out Kim’s services.
Trademarks and Copyrights
Your product or service brand or original works of authorship is a valuable asset and it needs to be protected. There is nothing worse than having a competitor weaken your brand or for someone to use your creative talents and work without consent and permission from you first. Kim helps you obtain this protection and determine if you need a trademark or need to copyright your work. If and when you do allow someone to use your creative work or logo, setting parameters, limitations, and guidelines for use is a paramount to protecting yourself and your work. If and when you discover that someone is using your work unlawfully, Kim can assist you during the process of writing and distributing cease and desist notices to unlawful parties and advises you on the legal options against those who use your work without your express consent.
Nonprofit Law
Nonprofit corporations hold a special place in today’s world. These particular organizations face unique issues that other, profit motivated companies, do not face. While nonprofits face many of the same legal issues encountered by for profit businesses, one of the most important issues that nonprofits face is obtaining tax exempt status [e.g. 501(c)(3)] that enables them to do their good work. Charitable fraud is also another unfortunate issue that nonprofit companies face. Being able to establish proof that your organization is properly using funds is paramount to operating a nonprofit organization. Kim’s past experience with nonprofit legal issues is extensive and there is no doubt that she can handle any situation that your organization encounters. Each nonprofit differs from organization to organization, but every established nonprofit should be equipped with the counsel of high quality legal aid, such as Kim, to help them through uncertain times.
501(c)(3) Tax Exempt Status
Contrary to popular belief, forming a nonprofit corporation does not equal being tax exempt. A nonprofit corporation that DOES NOT take affirmative steps to obtain tax exempt status from both the state and federal government is treated as a taxable entity. There are also various types of nonprofit organizations (e.g. public benefit, mutual benefit, religious benefit) and tax exemption categories (e.g. 501(c)(3); 501(c)(4), 501 (c)(6) etc.). While it is possible to learn this process by yourself, you may be missing out on key components. The experience and attention that Kim provides can make both the processes of obtaining nonprofit status or tax exempt status much less painful and enable you to do compassionate work.
Property Tax Exemptions
Owning property can be very beneficial for your nonprofit, but property taxes are not cheap by any means. Certain organizations are able to obtain partial or full exemption from property taxes with the proper documentation and assessment of your property. Much like obtaining tax exempt and nonprofit status, property tax exemption calls for sound legal advice to ensure that you are minimizing your tax expenses as a nonprofit. Kim is accustomed to providing this legal advice and has helped numerous nonprofits obtain property tax exemption.
