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Navigating Legal Structures: Business Entity & Contract Basics

August 20 @ 10:15 am - 11:15 am CDT


This 1 hour workshop is designed to equip small business owners and entrepreneurs with an overview of legal issues to make informed decisions about business structures and contracts.

The session will provide high level comparison of various business entities, highlighting their benefits and drawbacks, and cover essential aspects of contract law to protect your business interests.

Topics Covered:

1. Types of Business Entities: An overview of Sole Proprietorship, LLC, S Corporation, and C Corporation.

2. Legal and Tax Implications: Understanding the legal liabilities and tax obligations associated with each entity type.

3. Formation Requirements: Key steps and costs involved in forming each business entity.

4. Management and Operational Flexibility: Differences in management structures and operational flexibility.

5. Raising Capital: How each entity type affects your ability to raise funds.

6. Business Succession Planning: Considerations for transferring ownership or exiting the business.

7. Contracts 101: Essential components of a legally binding contract.

8. Drafting and Reviewing Contracts: Practical tips for creating and reviewing business contracts.

9. Common Contract Clauses: Important clauses like indemnity, arbitration, and confidentiality.

10. Enforcing Contracts: Steps to take if a contract is breached, including legal remedies and dispute resolution.

Faculty: Aaron Prenger. Aaron is an attorney at Seigfreid Bingham. His legal practice focuses on business transactions and financial services. He has helped small and medium sized businesses navigate issues such as intellectual property infringement, worker’s compensation claims, breach of contract, and others. He has drafts transactional documentation for a variety of clients including manufacturers, fabricators, distributors, trade associations, service providers, consulting companies, and banks. He provided startup advice for new business entities and assisted with business formation and governance issues including registration with pertinent governmental entities and drafting corporate governance documents. Aaron holds a BSBA and JD from the University of Missouri.



August 20
10:15 am - 11:15 am CDT
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