Call For A Free Consultation
CALL: 859-781-9100

Avoiding common mistakes as you start your business

Like many entrepreneurs, you are probably anxious to get your business up and running. It may be a dream come true, and it likely means you can move from having a boss to being a boss. Undoubtedly, there are many things to do before you get your company off the ground. You may have inventory to gather, marketing to arrange and employees to train. It may almost feel like planning a wedding.

Another similarity to wedding planning is the worry about making mistakes. In many cases, an oversight at a wedding can go unnoticed or, at the very least, add charm to the ceremony. However, in the business world, some mistakes can be devastating and may result in failure.


Contracts are an essential part of doing business. Your employee contract will be incomplete without non-disclosure and non-compete agreements. These prevent former employees from taking your trade secrets or client lists along with them to their new jobs. A non-compete agreement also forbids your separated workers from starting their own businesses to compete with yours.

Along with your employment contracts, having solid contracts for all transactions will save you frustration. Entering into any business agreement without a thorough contract is a recipe for trouble. An attorney will be a valuable resource for contract drafting and review because he or she will have a firm understanding of Kentucky laws.

Dealing with the government

The federal and local governments have established rules to which you are bound as a business owner. Among the most pressing is the requirement to meet all tax laws as they relate to your industry. This includes sales tax, income tax, payroll tax and others. The failure to keep accurate records and file your taxes at the appropriate times may result in severe penalties that could damage your company's bottom line and reputation.

Federal law also requires you to maintain careful employment records, such as job evaluations, I-9 forms and benefits information. Failing to keep accurate records for you employees can be a serious offense that can result in the closing of your business or even criminal charges.

An advocate for your business

Many business advisors recommend obtaining the services of an attorney from the earliest stages of planning and establishing your business. An attorney can assist with all aspects of your business, from choosing the structure that will best meet your goals to succession planning, including any litigation issues that may arise. You would also have a resource for constructing and reviewing contracts and restrictive covenants that may protect you from costly litigation.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact our attorneys today We Are Ready To Listen

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Gatlin Voelker,PLLC

Gatlin Voelker, PLLC
2500 Chamber Center Dr. Ste. 203
Fort Mitchell, KY 41017

Phone: 859-781-9100
Fax: 888-456-9179
Fort Mitchell Law Office Map

Call : 859-781-9100