Unlocking Value: The Advantages of Choosing Flat Fee Lawyers

Unlocking Value: The Advantages of Choosing Flat Fee Lawyers

For those unaccustomed to legal services offered on a flat fee basis, the prospect might appear novel and even revolutionary. Traditionally, the legal industry has been associated with hourly billing, leaving clients wondering about costs and hesitant to seek assistance. However, the emergence of flat fee lawyers brings forth a wave of benefits that cater directly to your needs and comfort. Let’s explore why embracing this modern approach is a game-changer.

What is a Flat Fee Lawyer and Why Use One?

A flat fee lawyer, also known as a fixed fee lawyer, is a legal professional who offers legal services at a predetermined, fixed cost for a specific scope of work. Unlike the traditional hourly billing model, where clients are billed based on the amount of time the lawyer spends working on their case, a flat fee lawyer charges a set fee for a particular legal service or task. The benefits of using a flat fee lawyer are numerous.

  • Transparent Cost Structure: Traditional hourly billing can often leave clients anxious about unexpected costs. Flat fee lawyers, on the other hand, offer a clear and upfront cost structure. This means you’re fully aware of the financial commitment from the outset, allowing you to plan your budget effectively without fearing hidden expenses.
  • Predictable Budgeting: With flat fee services, you know exactly what you’re paying for the legal services you need. This predictability empowers you to allocate resources more efficiently, ensuring that you’re financially prepared for your legal matters without the stress of fluctuating hourly rates.
  • Efficiency and Focus: Flat fee lawyers work with the goal of delivering results rather than stretching hours. This incentivizes them to work diligently and swiftly, focusing on achieving the best outcome for your case. The emphasis is on providing value-driven solutions instead of running up the clock.
  • Tailored Services: Contrary to the notion that a flat fee model might be restrictive, it actually encourages lawyers to offer tailored services. Your lawyer will work closely with you to understand your unique needs, ensuring that the legal assistance provided is precisely what you require.
  • Collaborative Approach: Flat fee lawyers thrive on building strong client relationships. Their success is intertwined with yours, and they are motivated to collaborate effectively, communicate transparently, and work alongside you to resolve your legal challenges.
  • Eliminating Uncertainty: Legal proceedings can be inherently uncertain, but your financial commitment doesn’t have to be. Flat fee services provide clarity and peace of mind, allowing you to focus your energy on the legal matters at hand rather than worrying about billing intricacies.
  • Diverse Expertise: Flat fee lawyers often cover a broad spectrum of legal areas, from business and contracts to estate planning and real estate. This diversity ensures that you have access to legal expertise across different domains without the stress of varying billing methods.

In embracing the benefits of flat fee lawyers, you’re opting for a model that prioritizes transparency, efficiency, and client-centricity. As you venture into this innovative approach, you’ll discover that the legal landscape can indeed be navigated with a more streamlined, cost-effective, and results-driven approach, tailored to your individual needs. Explore the realm of flat fee legal services and experience firsthand the advantages they bring to your legal journey.

Flat Fee Lawyers at Brenden Kelley Law

Embrace the future of legal services by exploring the world of flat fee lawyers. Say goodbye to the uncertainty of traditional billing and welcome the transparency, cost-efficiency, and personalized attention that the flat fee model provides. Contact us to discover how our experienced flat fee lawyers can partner with you on your legal journey. Take the first step toward a more accessible, predictable, and client-focused legal experience today.

Navigating Dental Practice Acquisition: Your Legal Compass

Navigating Dental Practice Acquisition: Your Legal Compass

Are you embarking on a dental practice acquisition journey? Let’s decipher the legal situation. Imagine a seamless transition to practice ownership—it’s possible! Why dive into legal aspects? It’s the bedrock of your success. 

We demystify complexities, offering clarity on contracts, due diligence, and more. In addition, be mindful of possible obstacles and work on improving your alignment, managing patient transitions, and ensuring philosophical balance in your practice. Our guide arms you with foresight. Benefits? Countless. Risk mitigation and success maximization—all in your grasp. 

We’re your partners, guiding you to practice ownership. Shape your dreams, armed with legal prowess. Let’s also ensure your investment is a triumph. Explore, empower, and thrive in this transformative endeavor. 

Your journey begins here.

Understanding the Legal Process of Dental Practice Purchase

Embarking on dental practice acquisition requires meticulous planning and diligence for success. Our experience with dentists like you has led us to develop tools guiding practice evaluation, purchase, and seamless transition. 

Amid complex legal procedures, a trusted attorney aids in foreseeing challenges, negotiating effectively, and ensuring precise documentation. Unlock the insights of navigating the entrepreneurial landscape in Ohio: business ownership’s nuances unveiled.

The due diligence phase takes the central stage. Scrutinizing legal documents, including purchase agreements and financial records, safeguards your interests. Also, preparation involves defining your path, forming a team, managing finances, and identifying the practice. 

Additionally, patient compatibility, staff dynamics, and robust business frameworks shape the core fabric. Evaluate location, market, and marketing for success. Reflect on the practice’s alignment with your vision. If affirmative, formalize with a Letter of Intent. 

Necessary documents include: 

  • Tax returns
  • Profit & loss statement
  • Accounts Receivables report
  • Monthly collection report
  • Equipment list
  • Staff information & personnel records

Legal Dental Practice Acquisition

Dental practice acquisition mandates adept negotiation of a Sales and Purchase Agreement (SPA). This contract outlines sales terms, obligations, and safeguards, minimizing financial risk and disputes. Dental practice acquisition demands precise contractual documentation, safeguarding interests, and transaction specifics.

An astutely crafted SPA is central. Elements encompass: 

  • Purchase price structure
  • Completion conditions
  • Dental specific provisions
  • Restrictive covenants
  • Warranties
  • Liability limits

Also, pay attention to NHS contract transfer and regulatory compliance. Tax implications necessitate insightful allocation. Goods, like equipment, are taxed at ordinary rates, goodwill at capital gains. C-Corporations face double taxation, warranting strategic mitigation.

Buyers should consider the categories of taxed assets when making their decisions. Engaging a dental office transition lawyer can ensure savvy allocation, minimizing tax burdens.

In dental acquisition, meticulous entity and tax structuring wield transformative power. Optimal framework choices impact taxation, liability, and long-term expansion. Moreover, the ideal entity and tax structure for your dental practice empowers buyers to navigate legal intricacies adeptly.

Choices abound—cash at closing or promissory note? Intelligent decisions shape taxation and outcomes. Forge ahead with legal insight, poised for dental practice purchase success.

Legal Considerations for Buying a Dental Practice

When transitioning to a dental practice, you need more than just a buyer-seller connection. Enter dental office transition lawyers and dental consultants. Unlike realtors, they exclusively represent you, the buyer. But what sets them apart?

Realtors cast a wide net, while dental office transition lawyers focus on your needs. Brokers sign contracts with sellers, exclusively listing a property for a limited time. They also wield power in determining the sale price. Yet, their listings might influence choices.

A critical aspect before closing? Electrical panels. Modern dental setups demand dedicated circuits for smooth operation. Remember, sharing a circuit risks equipment dysfunction or overload. Ensuring sufficient electrical requirements during negotiations avoids future costs.

Closing the deal heralds the final act. Negotiating the purchase price, guided by a dental office transition lawyer, is beneficial. Moreover, a legal maestro orchestrates paperwork completion, ownership transfer, and inspections, ensuring an agreeable finale.

But there’s more. Transitioning patients and staff gracefully is necessary. Introducing the new owner to patients fosters trust, while staff training eases change.

Employment intricacies also come into play—distinguishing self-employed dentists from employees. Regulations specify the transfer of employment contracts. New contracts are a buyer’s responsibility for self-employed individuals, necessitating careful timing.

Additionally, legal documentation is a puzzle. Licensing, associate agreements, and performance targets all shape the transition. In this intricate dance of deals and legalities, dental office transition lawyers and dental consultants are partners, guiding you through the maze and ensuring a seamless transition into your new dental practice.

When due diligence and closing negotiations conclude, your acquisition team supports finalizing these components: 

  • Tax returns
  • Buy/sell agreements
  • Employment documentation
  • Lease agreements 
  • Business plan
  • Insurance 
  • Financing

With guidance, transition into ownership confidently and shape your dental practice’s future.

Legal Guide for Dental Practice Acquisition

As dental office transition lawyers, we emphasize the critical role of legal experience in ensuring a seamless shift. Let’s delve into considerations for aspiring practice owners.

Patient records review extends beyond formality. Scrutinizing treatment records provides insights into the selling dentist’s style. To prevent any resistance, align treatment approaches with the patient’s expectations. It may also require educating the patient about their options.

Patient fee structures need evaluation. Practice discounts, waivers, or barter arrangements impact patient retention. Awareness of contractual obligations, especially copayment waivers, prevents insurance agreement breaches.

In consumer law for dentists, dental associate presence matters. Also, pay attention to the impact associates have on patient loyalty. Prolonged associations risk future patient solicitation, warranting strategic planning.

A seasoned dental attorney is indispensable. They guide you through legal complexities—negotiating agreements, safeguarding trademarks, and ensuring compliance.

Beyond acquisition, ongoing compliance is vital. Evolving regulations like HIPAA mandate proactive design alignment. Lawyers can also ensure contracts hold architects accountable, fostering compliant design practices.

With Brenden Kelley Law, embark on acquisition armed with legal insights. We empower your decisions, transforming your transition into success.

Building Your Vision Team: The Allies of Acquisition Success

Purchasing a dental practice demands meticulous planning. The process involves strategic phases: thorough due diligence ensures alignment with your vision, leading to formalizing intent through critical documents.

The legal acquisition process underscores the adept negotiation of a Sales and Purchase Agreement. SPA elements—purchase price structure, completion conditions, liabilities—demand astute consideration, as does understanding tax implications and asset allocation.

Considerations also include permit, building, and electrical compliance, strategic purchase price negotiation, and patient and staff transition. Post-acquisition, compliance, and legal diligence endure. Patient record reviews, fee structures, and legal guidance shape the practice’s longevity.

For a successful journey, assemble a proficient team. Dental practice consultants, attorneys, and accountants are your allies. Also, seek advice from individuals who comprehend the intricacies of running a dental practice. Ready to embark? Consult our dental practice transition lawyers. Your business ownership awaits. 

Secure your dental practice through knowledgeable guidance—contact us.


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Small Business Confidence Up in Wake of New Economic Data on Inflation

Small Business Confidence Up in Wake of New Economic Data on Inflation

Small businesses are usually the most affected by inflation. This is because they have limited access to capital, bargaining power, and pricing power compared to larger corporations. Many small companies went out of business during the COVID-19 lockdown, and those who remained afloat barely made it through.

More recently, small business owners have had to contend with inflation driving up the cost of operations while also reducing consumer purchasing power. This has forced organizations to tighten their belts to ensure they don’t go out of business. However, there’s finally some good news on Main Street regarding inflation, and the recent economic data gives small business owners the confidence to keep going.

How Inflation Impacts Small Businesses in Particular

Inflation refers to the sustained increase in the general price level of goods and services in an economy over a period of time. It means that, on average, prices are rising, and each currency unit can buy less than it previously could. Inflation occurs when there is an imbalance between the supply of money and goods and services in an economy.

Inflation impacts every sector but significantly affects smaller businesses due to their limited resources to combat rising costs. In 2022, the National Federation of Independent Business reported that nearly 90% of small businesses stated that inflation unfavorably impacted their business.

Here are some ways in which inflation can impact small businesses:

Rising Costs

Inflation often leads to an increase in the prices of goods and services. Small businesses, especially those operating on narrow profit margins, may struggle to absorb these rising costs. When overhead costs rise, small businesses are forced to either increase their prices, which could reduce customer demand, or find ways to cut expenses elsewhere, such as reducing staff or compromising the quality of their products or services.

Reduced Consumer Spending

As the general price level rises due to inflation, consumers’ purchasing power decreases. This can result in reduced spending on non-essential items, negatively affecting small businesses that rely heavily on discretionary consumer spending. Small retailers, restaurants, and entertainment venues may experience a decline in sales as consumers prioritize essential purchases.

Financing Costs

Inflation can affect borrowing costs, including interest rates on loans and lines of credit. Small businesses that rely on external financing may face higher interest expenses, making it more expensive to expand operations, invest in new equipment, or undertake other growth initiatives. This can limit their ability to compete with larger enterprises with more substantial resources.

Inventory Management Challenges

Inflation can create difficulties in managing inventory for small businesses. If prices rise rapidly, companies may face challenges in accurately forecasting future demand and determining optimal inventory levels. Overstocking could lead to increased carrying costs and potential losses if demand doesn’t meet expectations while understocking could result in missed sales opportunities and dissatisfied customers.

Wage Pressures

Inflation can create wage pressures as employees seek to maintain their purchasing power. Small businesses may face challenges in offering competitive wages to attract and retain talent, especially if they are unable to increase prices or generate sufficient revenue growth. This can lead to higher labor costs and potentially impact profitability.

Good News for Small Businesses

Most people view inflation as the Big Bad, and it is easy to see why. If you had $300,000 in your savings account in 2005, that amount wouldn’t go as far in 2023. Inflation is always happening, so by understanding this, small business owners can find ways to cushion themselves during dire times.

The Federal Reserve tries to maintain a 2% inflation rate per year. This is because anything lower than that may weaken the economy. The inflation rate in June 2022 was 9.1%. The good news is that this number has been steadily decreasing since November, and the future looks somewhat brighter, especially for small business owners.

According to the Consumer Price Index, the inflation rate in November 2022 was 7.1%, and by the time the year was closing out, it had dropped even further to 6.5%. A June 2023 CPI report confirms inflation to have cooled to 3%, which offers some great news to small businesses especially.

Small business owners are seemingly optimistic about the economy, with 25% of companies planning for capital expenditures in the next 3–6 months. This is a 4% increase from 21% at the start of the year and a 6% increase from 19% following the March bank failures.

19% of small business owners from another survey said they intend to create new jobs in the coming three months. 40%, up from 34% last year, describe their current conditions as good, while 46% report they expect revenue to increase in the next year.

Bad News for Small Businesses

Despite the uptick in optimism, small business owners still view inflation, supply chain disruptions, and labor quality as their top concerns. While companies are hiring, an NFIB survey reported that 44% of owners were struggling to fill the reported job openings. 63% of owners said they were hiring in May, but nearly 90% said they couldn’t find qualified applicants for open positions.

Small business owners may also find themselves with another situation on hand as a UPS strike looms. With the contract between UPS and 340,000 UPS workers represented by the Teamsters Union expiring on July 31, employee pay remains a sticky point. Union workers account for over half of UPS’s workforce. Therefore, a strike could be devastating for the company and small businesses relying on the carrier.

The looming strike comes 25 years after a similarly larger strike by 185,000 workers brought the courier to a standstill. The strike, which lasted for 15 days, slashed package deliveries and put a strain on the US Postal Service and FedEx, who had to pick up the pace, effectively paralyzing businesses nationwide.

If a deal is not reached by the deadline, the strike will cause broader supply chain disruptions, and small business owners may need to find alternative ways to ship their last-mile deliveries to cope.

5 Tips to Help Small Businesses Mitigate the Impact of Inflation

Monitor and Adjust Prices

Regularly review your pricing strategy and assess the impact of inflation on your costs. Consider adjusting prices accordingly to maintain profit margins. However, it’s essential to strike a balance between maintaining profitability and remaining competitive. Communicate any price adjustments transparently with your customers to manage their expectations.

Manage Costs

Analyze your cost structure and identify areas where you can reduce expenses or find efficiencies. Look for opportunities to negotiate better deals with suppliers, streamline operations, and optimize resource allocation. Implement cost-saving measures without compromising the quality of your products or services.

Diversify Suppliers

Explore alternative suppliers and sources for materials or inputs. This can help you mitigate the risk of supply chain disruptions and price fluctuations caused by inflation. Having multiple suppliers can provide flexibility and negotiation power, enabling you to secure better pricing terms.

Improve Inventory Management

Efficient inventory management is crucial during inflationary periods. Analyze your sales patterns, customer demand, and lead times to optimize your inventory levels. Avoid overstocking or understocking, as both can lead to financial losses. Consider adopting just-in-time inventory systems or implementing inventory management software to improve accuracy and responsiveness.

Enhance Customer Value

Focus on delivering exceptional value to your customers to retain their loyalty and justify your pricing. Identify ways to differentiate your products or services, such as improving quality, offering unique features, or providing outstanding customer service. Build strong relationships with your customer base and communicate the value proposition effectively.

Explore Alternative Financing Options

If inflation increases borrowing costs, explore alternative financing options. Seek out financial institutions or lenders offering competitive rates or consider alternative financing methods like crowdfunding or peer-to-peer lending. Maintaining a good credit history and financial records increases your chances of securing favorable financing terms.

Enhance Operational Efficiency

Continuously seek opportunities to improve your operational efficiency. This can include automating processes, investing in technology, cross-training employees, or optimizing workflows. By reducing waste and increasing productivity, you can mitigate the impact of rising inflation-related costs.

Stay Informed

Stay aware of economic trends, inflation rates, and market conditions. Regularly monitor industry news, economic indicators, and government policies that may impact your business. Stay connected with professional networks and business associations to gain insights and access resources that can help you navigate inflationary environments.

Conclusion

While inflation continues to pose significant challenges, the recent economic data on inflation brings a ray of hope for small business owners. As small business owners, staying adaptable, proactive, and open to embracing new strategies and technologies that can drive resilience and sustainability is important.

If you’re a small business owner concerned about navigating the challenges of inflation, reach out to Brenden Kelley Law. Our experienced team of attorneys will provide the legal guidance and support you need. From reviewing contracts and leases to advising on pricing strategies and cost management, we have the expertise to help safeguard your business against the impacts of inflation. Don’t let uncertainty hold you back. Contact us today, and let us help you secure a brighter future for your small business.


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Challenges Small Business Owners Face in Acquiring Loans

Challenges Small Business Owners Face in Acquiring Loans

Small businesses play a vital role in driving economic growth and innovation. They are the backbone of local communities, providing employment opportunities and catering to the diverse needs of consumers. However, amidst the challenges and uncertainties of the modern financial world, accessing the necessary capital to start, expand, or sustain a small business has become increasingly difficult.

In addition, traditional lending institutions, such as banks, have tightened their lending criteria, imposing stricter requirements and scrutinizing applications more closely. According to Reuters, as of June 2023, the approval rate of small business loans was only 18.8% from small banks and 13.4% from large banks. But why are banks not willing to lend money to small businesses? This article will shed light on why it is getting harder for small businesses to secure loans from banks and the steps small business owners can take to secure financing.

Why Is It Getting Harder for Small Businesses to Secure Loans?

Securing small business loans has become more challenging due to several reasons:

  • Stricter Lending Criteria: Traditional lending institutions like banks have tightened their lending criteria. This is in response to the global financial crisis and subsequent regulatory reforms. They now conduct more thorough assessments of loan applications, focusing on creditworthiness, business stability, and collateral requirements. Also, this increased scrutiny makes it harder for some small businesses to meet the stringent criteria and qualify for loans.
  • Economic Uncertainty: Uncertain economic conditions make lenders more cautious about extending loans to small businesses. These include market volatility and changing consumer preferences. Additionally, lenders may perceive higher risks in uncertain times, making them more conservative with their lending practices.
  • Limited Financial History: Small businesses, especially startups, often lack a robust financial history or a track record of profitability. This absence of substantial financial data makes it challenging for lenders to assess the business’s creditworthiness and repayment capacity, thereby reducing the likelihood of loan approval.
  • Collateral Requirements: Many lenders require collateral to secure small business loans. This can be a significant barrier for businesses without substantial assets. Lack of collateral or insufficient collateral value can also hinder loan approval or result in unfavorable loan terms.

What Can Small Business Owners Do?

It may be increasingly difficult to obtain financing for your small business, but the money is still out there. With the right strategies, small business owners can increase their chances of securing funding.

Strengthen Personal and Business Credit

Maintaining a strong personal and business credit history is crucial. According to a Goldman Sachs Survey, 70% of small business owners confirmed that their personal credit was considered when they applied for a business loan. Moreover, a score above 700 increases one’s chance of securing financing and vice versa. Small business owners should focus on building and maintaining good credit scores. Pay bills on time, reduce outstanding debt, and manage credit responsibly.

Prepare a Solid Business Plan

Creating a comprehensive business plan that outlines the company’s objectives, market analysis, financial projections, and repayment strategies demonstrates professionalism and commitment to lenders. A good business plan typically needs to include a summary of your business, products or services offered, market, and financials.

If you’re unsure of how solid your business plan is, it’s advisable to talk to a business plan expert or a business attorney who will review it and offer feedback on the necessary changes. You also need to be able to explain how you intend to use the money. Demonstrating a grasp of finances and a plan fosters confidence in lenders about our ability to effectively use funds.

Build Relationships With Lenders

Establishing relationships with local lenders or community banks can be beneficial. Engaging in regular communication, attending networking events, and building rapport with lenders can increase the likelihood of loan approval as they gain a better understanding of the business and its potential.

Consider an SBA Loan

An SBA loan is a loan program offered by the US Small Business Administration. The SBA does not directly provide loans to businesses but instead guarantees a portion of the loan amount (usually 85%) issued by approved lenders, such as banks and credit unions. This guarantee reduces the risk for lenders, encouraging them to provide loans to small businesses that may not meet conventional lending requirements. Section 7(A) and 504 are the most popular loan programs because they allow small businesses to borrow up to $5 million.

Explore Alternative Funding Sources

Traditional bank loans are not the only option for small businesses. Exploring alternative financing avenues such as online lenders, angel investors, community development financial institutions (CDFIs), microloans, or government-backed loan programs can offer additional opportunities to secure funding.

You can also consider bad credit loans or short-term loans. Lenders offering bad credit loans do not always consider bad credit when providing financing options. In such instances, they’ll consider cash flow and bank statements to determine eligibility. Short-term loans are usually offered by online lenders and are generally repaid within a year or less.

Optimize Financial Records

Maintaining accurate and up-to-date financial records is essential. Lenders often require detailed financial documentation, including balance sheets, profit and loss statements, and cash flow statements. Every document helps assess your risk level and determine whether loaning you money is a sound decision. Organized and transparent financial records instill confidence in lenders regarding a business’s financial health.

Seek Expert Guidance

Engaging with small business development centers, financial advisors, or industry-specific mentors can provide valuable insights and guidance throughout the loan application process. These experts can help identify suitable financing options and navigate the complexities of securing loans.

Talk to other people who have been through the loan application process and gotten approved. Also, find out what they did to secure financing. Their insight may be able to help you determine aspects of the application you may have missed.

Conclusion

While the process of obtaining small business loans has become more challenging, entrepreneurs can adapt by understanding the reasons behind the increased difficulty and employing strategic approaches. Adapting to the evolving loan landscape and proactively exploring various options will enable entrepreneurs to overcome obstacles and fuel their business growth and success. If you need help starting your business or are looking for invaluable guidance and legal protection as you start your business, look no further than Brenden Kelley Law. Contact us today to schedule a consultation.


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Understanding the Impact of the 2022 Limited Liability Company Act: What Companies Need to Know

Understanding the Impact of the 2022 Limited Liability Company Act: What Companies Need to Know

The Ohio Revised Limited Liability Company Act (ORLLCA) is a set of laws that govern the formation and operation of limited liability companies (LLCs) in the state of Ohio. In 2022, the ORLLCA saw some significant changes that companies operating in Ohio need to be aware of.

First Major Change

One of the key changes to the ORLLCA was the elimination of the requirement for an operating agreement. Under the previous law, LLCs were required to have an operating agreement that lays out the management structure of the company and the rights and duties of its members.
Under the new law, however, LLCs are no longer be required to have an operating agreement, although it is still highly recommended.

Second Major Change

Another major change to the ORLLCA was the introduction of the concept of “series LLCs.” A series LLC is a type of LLC that allows a single entity to create separate series or cells of members, each with their own distinct liabilities and assets. This allows for greater flexibility in the management of assets and liabilities within an LLC.

In addition to these changes, the ORLLCA also included new provisions relating to the conversion of LLCs to other business forms and vice versa, as well as changes to the way in which LLCs can be dissolved and wound up.

Importance

It is important for companies operating in Ohio to be aware of these changes to the ORLLCA, and to consult with an attorney to ensure that their LLC is in compliance with the new laws. While it will no longer be mandatory to have an Operating Agreement, it is still highly recommended for companies to have one to avoid disputes in the future, and have a clear guideline for the company’s operation.

Overall, the updates to the ORLLCA in 2022 were designed to make it easier for companies to form and operate LLCs in Ohio, and to provide greater flexibility for businesses to manage their assets and liabilities. However, companies operating in Ohio should still seek professional guidance to ensure that they are in compliance with these new laws, and take steps to adapt their LLCs as necessary.

Conclusion

In Summary, The 2022 Ohio Revised Limited Liability Company Act (ORLLCA) made it easier for companies to form and operate LLCs in Ohio, by eliminating the requirement of an Operating Agreement, as well as providing more flexibility to manage the assets and liabilities by introducing the concept of “series LLCs.” Also updates in conversion, dissolution and winding up were included. Contact Brenden Kelley Law today at 216-644-3359 to ensure that your business is in compliance with the new laws, and adapt your LLCs as necessary.


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Navigating Wrongful Termination Laws in Ohio: A Small Business Guide

Navigating Wrongful Termination Laws in Ohio: A Small Business Guide

What is Wrongful Termination?

Wrongful termination is a serious issue that small business owners in Ohio need to be aware of. In general, wrongful termination refers to when an employer terminates an employee’s employment in violation of state or federal law.

In Ohio, wrongful termination can occur in a variety of ways. For example, it can occur when an employer terminates an employee due to their race, gender, age, or disability. It can also occur when an employer terminates an employee in retaliation for reporting discrimination or harassment, or for taking time off for a protected reason (such as pregnancy or military service).

Illegality of Wrongful Termination

One of the most important things that small business owners in Ohio need to know about wrongful termination is that it is illegal. Employers are prohibited from terminating employees for discriminatory reasons, and they are also prohibited from retaliating against employees who report discrimination or harassment.

Taking Legal Action…

Another important thing to know is that employees who have been wrongfully terminated have the right to take legal action against their former employer. This can include filing a complaint with the Equal Employment Opportunity Commission (EEOC) or filing a lawsuit in state or federal court.

How to Avoid Wrongful Termination

In order to avoid wrongful termination claims, small business owners in Ohio should be aware of the state and federal laws that protect employees from discrimination and retaliation. They should also have policies and procedures in place to address discrimination and harassment, and they should train their managers and supervisors on how to handle these issues.

Additionally, small business owners should have clear and consistent procedures for terminating employees. This can include providing employees with clear performance standards, giving them the opportunity to improve their performance, and documenting any issues that lead to termination.

Another important thing to know is that small business owners can be held liable for the wrongful termination of an employee if they are found to be responsible for it. This can include both financial damages (such as lost wages and benefits) and non-financial damages (such as emotional distress).

Final thoughts…

In conclusion, wrongful termination is a serious issue that small business owners in Ohio need to be aware of. To avoid wrongful termination claims, they should be familiar with state and federal laws that protect employees from discrimination and retaliation, they should have policies and procedures in place to address discrimination and harassment, they should train their managers and supervisors on how to handle these issues, and they should have clear and consistent procedures for terminating employees. Contact the team at Brenden Kelly Law to learn more about how to protect your business from wrongful termination lawsuits.


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