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Leases, Leases, Leases…All you need to know!

All you need to know about leases?  That’s easy, don’t sign ANYTHING until your lawyer looks it over for you….that makes for a really short article, but it’s really true.  There are two types of leases:  real estate and business leases.

  1. Real Estate Leases.

For real estate, you are signing a lease for commercial property for your business.  This lease can be for retail, office, industrial, warehouse or any myriad of other business needs that you may have.  One thing all leases have in common, though, is that all leases are an obligation that the company will face for years to come.

Remember, when you sign a real estate lease, you are committing your company via contract to pay a sum of money every month for a wide variety of different terms.  A key consideration is that almost all leases are negotiable.  This means that you may be able to get better terms than what you see on the initial lease proposal from the landlord.  Should you accept the landlord’s first offer?  The answer is almost always NO!  You can get better terms and sometimes far better terms by just asking for changes to the lease.  This is why The Collins Firm should be your partner in negotiating important lease agreements and contracts before you sign them.  Once you sign the contracts, you are obligated and there’s almost no chance of gaining concessions in the future.

The Collins Firm has years of experience negotiating real estate leases and agreements with contracts and can advise you on issues that most likely can be negotiated and can help you develop strategies that will often save you money for years.  This is one of the few times when hiring a lawyer can save you money.  Before you sign any commercial real estate lease, you owe it to your long term success to consult The Collins Firm to see how we can help you get the most from your lease negotiations.

  1. Commercial Leases

The second type of lease is the commercial lease which can be for equipment, software, or any of a wide variety of other products and services outside of real estate.

Commercial leases come in a wide variety of types, terms and styles.  These contracts are often negotiable just like real estate leases.  While it is not always possible to negotiate terms in a commercial lease, you need to know what you’re getting into before you sign.

Just as is the case with real estate leases, you may gain tremendous benefit from having your commercial lease reviewed by The Collins Firm before you sign.  Even though you may not be able to negotiate as much on a commercial lease as you can on a real estate lease, you have nothing to lose by at least trying to negotiate key terms.  Before you can do anything, you need to know what the key issues you and where they arise in the contract.  Many times, the most onerous terms of a contract may be hidden in the small print, so you need a good lawyer to translate the legal jargon to real words that you can understand and negotiate.

What can The Collins Firm do for you?  The Collins Firm can help you identify provisions worthy of further review and negotiation and will provide you with a clear and concise summary of how your company is being obligated going forward. Contact The Collins Firm today to learn how The Collins Firm can help you with your next lease.

Incorporation Considerations…

The Collins Firm can help you start your business through the selection of the proper business form.

Whether you should set up an LLC, partnership, S Corporation or C Corporation, we can help you with the decision process.  We are proud to help individuals and businesses choose the best business form that meets your needs and circumstances.   Through careful analysis 0f your goals, ownership situation, business plan, tax matters and other considerations, we’ll work with you to discern the best corporate form for your business.

One important consideration that you must take into account in any corporate formation analysis concerns tax issues.   The Collins Firm has extensive experience in setting up corporations and will ask you the important questions needed to plan for the proper handling of tax issues.  Tax considerations are often determinative of the proper business form and at a minimum will  greatly influence the business form you need to utilize for your new business.

The Collins Firm will also prepare all the documents you’ll need not only to open your business but will get you everything you need to open your bank accounts.  We also help you get your Tax Identification Number so you can start business right away.  The Collins Firm can get you a full turn key corporate solution within just a few business days.

We will customize your business form to meet your needs and the needs of the business you want to start.   Contact the Collins Firm today to get started!!

If you don’t have a website…It’s time to get one!

The business world of business now requires you to build and operate at least some internet presence.  The internet is now a far more powerful business generation tool than the Yellow Pages or any other medium for generating customers.  You need to take advantage of the power of the internet and The Collins Firm has the experience to help your business navigate the legal waters of ecommerce.

In order to build your web presence, you’ll need some key documents and forms that The Collins Firm can help you identify and refine.  Here is a short analysis of the documents you need to get your business off the ground:

1.  Privacy Policy – Because the internet is truly forever, you need to assure visitors to your site that you have a privacy policy and that you respect visitor and customer privacy.  Every company treats customer information differently so the Privacy Policy must be custom tailored to meet the specific needs of your business.

2. Terms and Conditions – The Terms and Conditions document is an important part of your business website as it specifies the way that you do business and the obligations your company is willing to take on in order to operate a business arrangement.  The Terms document must be custom tailored to meet the needs of your business and specific operations, so you’ll need to work with an attorney like The Collins Firm to make sure the Terms page meets your needs.

3.  Acceptable Use Policy – The Acceptable Use Policy is another document that is vital for a service based business with an internet presence.  This document sets the standards for what a customer may or may not do with the service that is being sold and as the name implies, outlines acceptable uses of the service.

The Collins Firm has years of experience assisting companies build and grow their internet based businesses and developing the kinds of forms and documents that will help you get the most from the potential of internet business.

For more information or call for a free telephone consultation at 404-214-6070 or email The Collins Firm for more information!

 

COLLECTIONS – THE KEY TO MAINTING REVENUE

Sales are useless if you don’t collect the money so you to ramp up your collections efforts so that you get the benefit of all of your hard earned sales.  The Collins Firm can help you build and develop a cash collection system offering flexibility to avoid making customers angry as well as firmness to ensure collection.

The key to an effective collections system is to lay out expectations at the beginning of your business relationship. This means that your contracts and invoices should all state clearly when money is due and the ramifications for failure to meet the payment requirements. I recommend adding late fee and interest provisions to any standard contract.  Whether to add this information to your invoice as well is another question that requires further consideration.

The next step in the collections process is internal notification systems for your staff to use to monitor outstanding money and contact customers to collect this money.  The Collins Firm can help you build and develop an internal process that is highly effective in collecting accounts receivables.

If your internal collections efforts still do not get the results that you seek, then it’s time to get legal assistance.  The Collins Firm helps many businesses with collections efforts and has developed a proprietary process that is the most efficient and effective way to collect from business debtors.  With a choice of billing options as either contingent or hourly billing, The Collins Firm can help you collect your toughest accounts.

Call for a free telephone consultation at 404-214-6070 or email The Collins Firm for more information today!