business partnerships - Jamie Miller Law | Tulsa Business Lawyer

Legal ‘To Do’ List? I Can Help! | Video

jmillerlawfirm — Fri, 03 Apr 2020 10:32:06 +0000

So many have shifted their focus these past few weeks amid business closures and/or the need to continue serving customers and clients from afar. There are quite a few things you can cross off the legal ‘to do’ list remotely. Let’s work together if you’re in need of any of the following:

Legal advice while your business is temporarily closed
Help with restructuring amid the current climate
Online mediation and arbitration to settle a dispute outside of the closed court systems
Proactive estate planning

I would like to discuss these ideas with you if you’re interested in filling your downtime with a little legal due diligence.

Contact me or schedule an appointment online to learn more!

Click here to watch this video on YouTube!

The information contained in this video is not specific legal advice. Watching this video does not establish an attorney-client relationship. If you are seeking specific legal advice, please feel free to call me or schedule an appointment online.

The post Legal ‘To Do’ List? I Can Help! | Video first appeared on Jamie Miller Law | Tulsa Business Lawyer.

Attorney-Client Relationship | Video

jmillerlawfirm — Tue, 10 Mar 2020 09:07:58 +0000

In this video, we’ll be discussing the attorney-client relationship and how I’m working to shift the perception of that relationship.

What if you viewed your attorney differently?
What if your attorney was your legal partner, helping you to prevent or mitigate risks in your business?
What if your attorney knew your business, employees and was available to you to help navigate ongoing business decisions?

I would like to discuss these ideas with you if you’re interested in gaining a partner in the legal field.

Contact me or schedule an appointment online to learn more!

Click here to watch this video on Vimeo!

The post Attorney-Client Relationship | Video first appeared on Jamie Miller Law | Tulsa Business Lawyer.

J. Miller Law Firm Introduction | Video

jmillerlawfirm — Wed, 04 Mar 2020 08:47:42 +0000

In this video, I’ll be introducing myself, J. Miller Law Firm and an exciting new opportunity to partner with me as your business attorney on a subscription basis. Get unlimited access to me without the billable hour fee. Contact me or schedule an appointment online to learn more!

Click here to watch this video on Vimeo!

The post J. Miller Law Firm Introduction | Video first appeared on Jamie Miller Law | Tulsa Business Lawyer.

Starting a Business in 2020

jmillerlawfirm — Sun, 22 Dec 2019 11:09:14 +0000

You may have seen a recent article/post about the “50 Best Cities for Starting a Business in 2020.” Tulsa and Oklahoma City both made this list! Tulsa was identified as #1 for Wage Growth and #19 for Rate of Entrepreneurship. Oklahoma City was ranked # 5 for Rate of Internship and #23 for Wage Growth. It is an exciting time to do business in Oklahoma! In Tulsa and surrounding communities, there are business incubators, coworking spaces, active chambers of commerce, and a huge amount of networking opportunities.

If you have ever dreamed of starting a business or buying an existing business, I would encourage you to do so but think it through carefully, and start it the right way. By starting it the right way, I mean don’t shortcut the steps you need to take. Starting a business from scratch, or buying an existing business are important decisions, and missing steps or making decisions you later regret can have serious legal and tax consequences.

Steps to Consider if you are Starting a Business

Create a thorough business plan AND budget

Having a thorough business plan (and budget) in place is something that often gets overlooked in the initial excitement. I am also a mentor and subject matter expert for SCORE in Tulsa, and there are free resources for business plans available through SCORE, as well as other entities. Just like with anything else though – don’t use just anything you find on the internet. These decisions are too important to take lightly. A link to SCORE business planning resources can be found here: https://www.score.org/business-plans-startup-assistance-resources.

Decide how you will structure your business

You also need to decide on a formalized structure for your business, such as a corporation or a limited liability company. This is a conversation I would encourage you to have with an attorney as well as your tax advisor, working together. The Secretary of State website is a great place to start for resources/forms, but submitting that filing is not the end of the process. Depending on the structure you choose, you will also want to have governing documents professionally drafted, such as an operating agreement, partnership agreement, or bylaws, as well as buy-sell agreements if there are multiple owners.

File for licenses or permits

Depending on the type of business, there may be licenses or permits needed, as well as additional registrations for tax purposes, such as the Oklahoma Tax Commission if you will be selling taxable goods and/or services.

Hire employees or contract independent vendors

The conversation about employees versus independent contractors is also important, and there are many factors that go into that decision. Misclassifying workers as contractors when they are actually employees can have serious consequences. Again, consult with an attorney about these issues, and your tax professional should be in the loop as well.

Draft contracts for vendors, clients, customers, contractors, and employees

Every business needs solid written contracts in place. These may be contracts with vendors, clients, customers, contractors, and occasionally employees. It is often less expensive for preventative legal services such as contract drafting and negotiation than trying to fix a bad contract later or litigate it after there is a problem.

These are just a few of the steps involved in starting a business. Having a solid business plan in place, as well as professionals to guide you through the process can help to make it manageable and get you up and running smoothly.

If I can help you with starting a business 2020, I would love to hear from you! To schedule a consultation: 918-938-1322 or jamie@jmillerlawfirmpllc.com.

The post Starting a Business in 2020 first appeared on Jamie Miller Law | Tulsa Business Lawyer.

What Is Your Business (Succession) Plan?

jmillerlawfirm — Fri, 09 Aug 2019 17:01:36 +0000

When you are starting a business, it is overwhelming at the beginning. You are creating a business plan and budget (hopefully), deciding on a business structure for legal and tax purposes, having business governing documents drafted, opening a business bank account, getting quotes on insurance, you may be deciding on employees versus contractors and making hiring decisions, finding a location for lease or purchase, obtaining required licenses and permits, and the list goes on. We are so focused on getting the business up and running, it is easy to overlook future needs. Business succession planning is just as important as business planning.

I often work with clients as well as #SCORE mentees who are starting businesses or buying an existing business, and one thing that is often overlooked at that stage is what do they want to happen to the business if something happens to them? This question gets more complicated if you are in a business with one or more partners, particularly if that person is not your spouse, or if that spouse is not regularly engaged in the business. If you are not careful, you could easily find yourself in business with a former partner’s spouse or their estate. That is probably not the plan you envisioned for running your business.

Another issue is if you are in a specialized industry or one that requires a license such as attorney, certified public accountant, doctor, insurance agent, realtor, etc. – there may be restrictions on who can take over your business affairs if you cannot.

Your business has ongoing needs that will need addressed, whether it is a situation where you are in the hospital for a few weeks and can’t respond to clients or get bills paid, or you are deceased and decisions need to be made on whether the business continues, is sold, or closes.

The answers to what your business succession plan is are personal to you and your business, and the specifics depend on your corporate structure, your governing documents (if you don’t have these –that is another conversation), whether you have business partners, your business goals, and your overall estate plan.

If you would like to talk about your plans and how I can help you, feel free to contact me at jamie@jmillerlawfirmpllc.com or 918-770-7810.

The post What Is Your Business (Succession) Plan? first appeared on Jamie Miller Law | Tulsa Business Lawyer.

Breaking Up Is Hard To Do

jmillerlawfirm — Wed, 13 Feb 2019 15:36:53 +0000

It may be close to Valentine’s Day, but in this case I am talking about business breakups. I have seen an increase in the number of people coming to me where they have a business with one or more other individuals, and want to either get out of the business or end the business entirely, and the business partner does not agree in one or more areas. Unfortunately, many of these people have not taken the steps up front to have a written contract with their business partner that addresses how disagreements will be handled, including withdrawals, sales, and dissolving the company.

The best time to come to an arrangement with your business partners is at the beginning. When you are starting your business and everyone is getting along, it is typically much easier to come to a clear consensus on how you want to handle situations down the road. If you do not create such an agreement, and you come to an impasse, you can still try to come to an agreement but it can be more difficult after disagreements have already occurred and tempers may be high. In the absence of a written contract, your options are limited to the Oklahoma statutes regarding your particular corporate structure (such as a corporation or a limited liability corporation) which may include going to court to get a resolution, which can include additional time and expense.

If you would like to discuss creating an agreement for your business or have an issue with a business partner, feel free to contact me at 918-770-7810 or jamie@jmillerlawfirmpllc.com.

The post Breaking Up Is Hard To Do first appeared on Jamie Miller Law | Tulsa Business Lawyer.