O'Donnell Law Center : Lake of the Ozarks

As any business owner will attest to, there’s a lot that goes into setting up a company. You are probably well aware of some of the more obvious matters, such as finalizing your business name, choosing/building/leasing your location, and securing any needed funding to get your business off the ground. While these steps are important, they barely scratch the surface of the myriad of details that must be attended to. This week, our business attorney in Osage Beach MO is here to look closely at three important steps that need your attention as you prepare to start a business at the Lake of the Ozarks . Talk To An Accountant As you might guess, there is a lot of financial responsibility involved in owning your own business. You will be responsible for ensuring that you meet all of your expenses, that you and your employees are paid, that you pay your taxes on time and in full, and that by the time it’s all said and done, your business turns a profit. Business finances are subject to...

As an entrepreneur, your company is a hugely important part of your life. It's your baby, your passion, and your livelihood. Throughout your business' lifespan (especially during its early years) you will dedicate considerable time, energy, and resources to ensuring its success. The last thing you'll want is to do anything that would put your company at risk. Unfortunately, from a legal liability perspective, putting your business at risk may sometimes be easier than you realize. A variety of potential legal pitfalls await business owners. Today, our Lake of the Ozarks business attorney is here to examine a few examples of the different risks you may face and the legally compromising situations you could be putting your business in (without even realizing it). Premises Liability As a business owner, you care about the safety of your customers while they are on your property. It is wise to purchase property liability insurance to protect yourself financially from a...

There are few things as exciting (and terrifying) as taking the plunge and opening your own business. L imited only by your imagination and determination, you'll  face endless possibilities as an entrepreneur. Of course, in order to become a successful entrepreneur, you must be adept in more areas than just your chosen field - you must also be able to handle the business, financial, and legal responsibilities associated with running a company. Our business attorney at the Lake of the Ozarks is here to help you succeed by offering these quick tips to anyone dreaming of starting a business in Missouri . 1. Choose A Field You Are Passionate About. Building a business from the ground up requires an immense amount of time, energy, and effort. If you aren't passionate about the industry or the cause you have chosen, you may burn out quickly. Before embarking on the adventure of building a new business, make sure you are honest with yourself regarding whether or not your chos...

Contracts are your business' biggest safety net: they protect your interests, your trade secrets, your responsibilities, and countless other important factors. The exact type of contracts you need may vary slightly depending on your industry, but there are several basic contracts that can benefit practically every type of business. We explored a few of them in our previous blog titled  5 Example Contracts Your Business May Need . This week, our Lake of the Ozarks law firm is here to delve a little bit deeper into one of these specific contracts: non-compete agreements. What Is A Non-Compete Agreement? A non-compete agreement is a contract some employers ask their new hires to sign before beginning work. Though they are often signed at the same time, non-compete agreements are distinct from confidentiality agreements and it is important to understand the distinction between the two. Confidentiality agreements ensure that employees will not reveal the company's private ...

It may seem like a surprising comparison at first, but if you think about it, starting a new business has a lot in common with starting a new marriage. Both are filled with excitement, wonder, and - of course - nervous anticipation. Both can be incredibly rewarding i f handled correctly and given the proper attention , but both can also be challenging at times. Here is a quick look at some of the other things new businesses and new marriages have in common. Both Need To Be Established Correctly As the owner of a brand new business, you have a lot of important decisions to make. First and foremost, you have to choose which form of business entity to use. Do you want to incorporate as a sole proprietorship, a limited liability company, or something else? Each options offers its own set of advantages and disadvantages, and you will have to carefully evaluate your business' unique needs in order to make an informed decision. In order for your business to thrive, you need to ch...

Your business is your livelihood. As the owner, you'll want to do everything you can to ensure that your company leaves a great first impression with every potential customer it comes in contact with, and leaves a positive lasting impression with everyone who uses you services or products. There are a lot of background procedures that must be executed to ensure that your business runs properly, but the impression you leave with your customers is a vital component of your business' success. 4 Ways To Help Your Business Make A Great Impression 1. Draft Solid Legal Contracts When it comes to business transactions, you have to be organized. This is especially true when it comes to business contracts. Your contracts must be thorough and legally sound in order to protect your business endeavors. A well-written contract also goes a long way towards improving your clients' impressions of your business, as a well-written contract excludes professionalism. 2. Know Your Bu...