• Resolve to give your lawyer the full story, complete documentation and as much legwork and assistance as possible to avoid added legal problems and larger fees;
• Resolve to understand your company’s insurance coverage to make sure they provide adequate protection. Ask your insurance professional to explain the insurance company gobbledygook in plain English;
• Resolve to make sure that if your company is a sole proprietorship or partnership, that you have a proper trade name on file if it’s not in your own name; if it is a corporation, to make sure that you have filed the proper papers and reports with the Secretary of State; or, if it is a limited liability company or other entity, that you have complied with legal filing requirements;
• Resolve, if you are a corporation, limited liability company or other such entity, that you use Corp., Inc., LLC or other appropriate designations on your letterheads, contracts and other company communications;
• Resolve to maintain good files and records, particularly when you expect problems;
• Resolve, if you are a corporation, or other legal entity to have annual meetings of shareholders, directors, members, etc. as required and keep minutes of those and other corporate meetings;
• Resolve to consider having an annual check-up of fiscal, accounting, credit, legal, insurance and other business matters.
Happy New Year.
Albert B. Wolf is a principal in the Denver law firm of Wolf Slatkin & Madison PC.