Announcing the formation of my new law firm. . .

Posted on | April 9, 2010 | 1 Comment

After 18 years of practice with a downtown Indianapolis law firm, I am pleased to announce that I am launching the Griffith Law Group- my own law firm dedicated to serving the needs of solopreneurs, entrepreneurs, small to medium sized business, and business owners.  I will also continue my work representing real estate investors, builders, building trades, property managers and other real estate professionals.  Initially, our new offices will be located in the first Small Business Development Center developed by Rainmakers Marketing Group, Inc.

Starting on May 1, 2010, my new contact information will be:

Griffith Law Group

7208 N. Dobson Street

Indianapolis, IN  46268

317-663-0650

Matt@IndyBizLaw.com

The Griffith Law Group will offer legal services in a very different, results-oriented style.  Our emphasis is on educating clients and empowering them to make good business decisions that are cost-effective and consistent with their personal, financial and professional goals.  To learn more about how our approach to the practice of business and real estate law is different, please visit our website:

  www.IndyBizLaw.com

We also encourage you to sign up for our electronic newsletter, through which we share important business news and information about changes in the law that might impact your business or real estate interests.

As always, please feel free to contact us with any questions or concerns about your business, real estate or other legal needs.  We look forward to serving you.  

Matthew A. Griffith, Esq.

Is Your LLC or Corporation Current & Updated?

Posted on | April 5, 2010 | 1 Comment

Limited liability entities- such as corporations and limited liability companies- require basic maintenance.  Yet, amazingly, a large percentage of Indiana corporations and Indiana LLC’s are not updated by management or owners.  What they risk by failing to upkeep these entities is nothing less than having a court ignore the “corporate shield” by applying liability directly on the owners of the corporation or LLC.

It is not expensive or hard to maintain an Indiana corporation or Indiana LLC.  The necessary tasks should begin with a visit to your business attorney, CPA and insurance agent.  However, those are just the three most important tasks to complete.  There are several others. 

Here is a short list of important tasks to complete regularly-

1. Visit yourIndiana business attorney to review the corporate records and status of the business.
2. Visit your CPA for a review of the financial health of the company.
3. Visit your insurance agent to contact a full insurance review.
4. Hold an annual meeting of the owners- members in an LLC and shareholders in a corporation.  Elect LLC-managers or corporate directors at these meetings.
5. Hold an annual meeting of the directors in a corporation.  Elect officers at this meeting.
6. Create minutes of all annual meetings.
7. File biennial reports with the Secretary of State.
8. Update an assumed business names with appropriate filings with the Secretary of State and county recorder.
9. Remind officers and key personnel on the appropriate operations of a limited liability entity.
10. Review all contracts, processes and procedures that might lead to liabilities.
11. Conduct a risk audit, which should include a physical inspection of your business facilities.

Of course, each business has unique needs, but this list generally applies to businesses of all types and sizes.