It’s time for a legal checkup

Regular visits to the doctor are a part of taking care of yourself. Do you apply the same level of care for your business? CompTIA’s new toolkit Legal Resources for Tech SMBs is the solution. Self-care is a topic that is often discussed. It’s about putting yourself and your needs first. The idea is that taking care of yourself will make it easier to take better care and take care of others. The same applies to your business. You will be able to better serve your clients and grow your business by taking care of your internal business needs.
One way to improve your business is to deal with legal issues. Because they can be overwhelming, these issues tend to fall to the bottom of your to-do list. CompTIA has created a new playbook for members called Legal Resources for Tech Small Businesses. This guide is a great resource to help you give your business a legal review.
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Is your paperwork up to date?
Although it is not the most exciting job, maintaining proper paperwork is vital. Proper corporate formation and ongoing governance are essential, no matter if you’re just starting your own company or have been in business for many years. How your business structure is set up will affect how you pay taxes, how much you sell services, and where liability lies. These are important considerations that require careful consideration.
Legal Resources for Tech SMBs will guide you through the organizational documents solution providers must prepare as well as documents related to corporate governance. These files could include annual reports, budgets and accurate corporate balance sheet.
Are Your Key Contracts in Need of Attention?
Most solution providers work with two types of contracts in most cases: master service agreements (MSAs), and employment contracts. The MSA governs your business’ relationship with your customer. However, the employment contract sets the parameters for your employees and contractors. These documents should be reviewed regularly, and updated if necessary.
Legal Resources for Tech SMBs provides guidance on what should go in each of these key contracts. CompTIA members can also request a free MSA template by SmithAmundsen LLC. CompTIA members have access to the MSA request form by logging in here.
What else should you consider?
Now that paperwork and contracts are under control, it’s time for you to look at other business considerations that could impact your company’s health. These issues include insurance coverage, backup protections, and proactive maintenance. All of these can have a negative impact on your company’s legal standing. Are your plans and policies current? Is there anything you can do to protect your company’s assets? Proactive planning can help you get through times of crisis.
These business considerations are listed in Legal Resources for Tech SMBs. You can use your team’s certifications and testimonials to market your business, or you can take proactive planning.
Can You Prove Compliance?
Knowledge is power but it is only useful if your team is well-informed about the requirements to stay in compliance. It is vital to stay current on the latest compliance laws and policies as regulation continues to be a major part of the technology industry. Although it is possible to coordinate these efforts yourself, many solution providers rely heavily upon their legal counsel.
Legal Resources for Tech SMBs guides you through privacy, data compliance, security testing, and CompTIA certifications. It is important that your company pays attention to all these areas, not just a few.
CompTIA’s Legal Playbook is not a substitute for professional legal counsel. It is intended to help you understand how to engage and hire legal counsel, as well as improve your relationship with your legal staff. It will also help you integrate your business goals into the ongoing operation of your company. This resource is intended to spark additional conversations and serve as a springboard for legal self-care.
Members: Download Legal Resources for Tech SMBs to get a free master-service agreement (MSA) template, and a list of CompTIA-reviewed legal professionals who specialize in everything, from employment and tax to intellectual and litigious property.
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