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Legally Running Your Construction Business While Limiting Personal Liability


Total Credits: 1 including 1 Minnesota Residential Building Contractor, 1 Wisconsin Dwelling Contractor

Category:
Business Management |  MN Contractor Credit |  WI Contractor Credit
Faculty:
Stephen Yoch
Duration:
1 Hour
Format:
Audio and Video
License:
Access for 180 day(s) after purchase.



Description

One of the key factors in surviving and thriving in business downturns is limiting business and personal risk.  The class examines how creating the right business entity, following basic corporate requirements, and creating “entity separation,” can prevent creditors from piercing the corporate veil.  The course also goes through basic ways to limit liability on personal guaranties and other crucial steps to limit personal liability in good times and bad.

Course Outline
  • LIMITING LIABILITY IN CHALLENGING TIMES
  • LEGAL BUSINESS BASICS
  • Need for an Entity
  • Issues in Entity Selection
  • Selecting an Entity
  • ENTITY CONTROL
  • Controlling an Entity
  • Legally Running a Company
  • Creating Appropriate Entity Separation
  • Ramifications of Failing to Properly Administer or Maintain Entities
  • Have a Good and Up-To-Date Contract
  • Properly Signing a Contract
  • Having Good Insurance
  • Limiting Personal Guarantees
  • Good Recordkeeping

Learner Objectives

Learn how to properly set up, structure and run a legal entity and limit exposure to creditors.


Testimonials

"Stephen is one of the best presenters in the business. Great info and personality of presentation." Larry Rosenthal, Rosenthal Construction LLC

"The course was easy to understand and highlighted the importance of limiting liability." Karin Stricker, KES Enterprises LLC


Quiz Info

After the course, you will need to take a 10 question quiz. To pass the quiz, you will need to get a score of 70% or higher.


Access Info

Your online course is accessible 24/7. The course will be available to you for 180 days from the purchase date.


Credit Info

This course has been approved for one hour of MN residential contractor and remodeler credit by the Minnesota Department of Labor & Industry and is approved for the required business management credit.

If you are eligible to receive continuing education credits, your information will be electronically reported to the appropriate agency within 7 business days of course completion.


Questions and Comments

Questions and comments related to the curriculum for this course may be submitted to the instructor at education@housingfirstmn.org.


Handouts

Faculty

Stephen Yoch's Profile

Stephen Yoch Related seminars and products

Felhaber Larson


Stephen has extensive transactional and litigation experience which allows him to assist builders and developers in evaluating all the alternatives when facing legal challenges. Steve is a highly rated speaker and an award-winning writer. He is a member of the Felhaber Larson Board of Directors, and he currently serves as Chair of the Business and Real Estate Section of the Firm.


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