Reducing Business Risks through Smart Legal Strategy | 12

Felicia Harris, CEO of EverythingHR and EverythingHR Financial Services, interviews Alari Adams, Founder, and Attorney at ASquared Legal Group, a minority and women-certified law firm based in downtown Detroit, specializing in business, labor and employment, and intellectual property law. Alari breaks down the differences between types of business structures, ways businesses can protect themselves from risk and vulnerability, and issues regarding independent contractors and employees.

3 Key Points:

1. Make sure your business has a contract clearly stating the services you are going to render and the expected payments for them.

2. Ask for references, hire within the state, and require a multi-level payment structure before hiring someone for services.

3. Look over the indemnity section of your contract for details about reimbursement.

Show Notes: 

What types of challenges do your clients typically need help with 

Should late fees be included in contract 

How can business owners protect themselves from being taken advantage of

What is the difference between providing an employee an offer letter and an employment contract

What are issues employers should be mindful of

Know the difference between an employee and an independent contractor

What are the choices you have depending on your business structure

Limited Liability Company’s assets are the only ones vulnerable to litigation

From a risk perspective, should businesses be set up as S-Corps or C-Corps

Alari Adams shares her contact information for business inquiries

What are some primary risks for business owners to be aware of

How should you calculate the hours for the Paid Medical Leave Act

When should you update employee handbooks and procedures

Make sure you have a harassment and discrimination policy in place