Existing Business Status Check

Business Information

1. Your Name: (required)

2. Your Email (required)

3. Phone Number

4. Business Name (required)

5. Brief Description of Business

6. Business Website Address

7. Has your business been formally incorporated/established?

If Yes, what state/country?

8. What type of entity is your business (company structure)?

9. How is your business taxed?

10. What is the business tax ID or Employer Identification Number (EIN)

11. What states are your business registered to do business in?

12. How many years have you been in business?

13. How many Owners?

If 3 or more; Please specify

14. What is the nationality(ies) of the owner?

15. Who are the Officers, Managers, Directors and/or Executives?

16. Do all of the owner(s) have work authorization in the U.S.?

If yes, please list any visas.

17. Do you have a corporate/company Minute Book?

If yes, where is it kept?

18. What types of Agreements for the owner(s) do you have in place?
Operating Agreement (LLC)Shareholders Agreement (Corporation)Bylaws (Corporation)Partnership Agreement (Partnership)OtherNoneDon’t Know (Not Sure)
If other, please specify.

19. What Corporate/Company documents does your business have in place? (check all that apply)
Company SealOwnership CertificatesOwnership LedgersInitial Minutes/Written ConsentsAnnual Meeting Minutes/Written ConsentsNoneDon’t Know (Not Sure)

20. Is your Minute Book “up to date” (does it contain all the documents checked above)?

21. Does the Company have a registered agent? If so, what is his/her name?

22. Does the company have a succession plan in place?
Buy/Sell AgreementValuation ProcessPlan in the Event of Death or DisabilityPlan in the Event of BankruptcyOtherNoDon’t Know (Not Sure)
If other, please specify

If the company has any of the following, please list their name:

23. Business Lawyer

24. Accountant

25. Bookkeeper

26. Tax Advisor

27. Financial Advisor

28. CPA

29. Banker

30. Insurance Agent

31. Any other attorneys or professionals, such as Immigration Attorneys?

Insurance & Taxes

32. What type(s) of insurance coverage does the Company have? (check all that apply)
Professional LiabilityGeneral LiabilityProduct LiabilityKey Management (Key Man Insurance)Directors and OfficersBusiness Owner’s Policy (eg. business, property, vehicle, etc.)Business Premises Property InsuranceWorkers’ CompensationData BreachLife Insurance (on principals)Homeowner’s or Renter’s InsuranceOtherNoneDon’t Know (Not Sure)
If other, please specify

33. Has the Company filed all required Federal tax returns?

If yes, do you have copies?

34. Is your business registered with the IRS Electronic Federal Tax Payment System (EFTPS) (for proper payment of taxes)?

35. Has the Company filed all required State tax returns?

If yes, do you have copies?

36. Is your Company required to collect and pay State Sales and Use Taxes?

If Yes, in which States?

37. Has the Company obtained any local business licenses / tax receipts?

If Yes, where?

INTELLECTUAL PROPERTY AND BRANDING

38. Does the Company use any other names, other than the official name registered with the state, such as a DBA (Doing Business As) or Fictitious Business Name? If so, please specify.

39. Please list any registered trademarks or other intellectual property rights for the Company (e.g.: copyrights / patents / etc.) with states/countries/jurisdictions.

40. Do you have any proprietary names, tag lines, logos, processes, systems, formulas, etc. that you would like to protect through trademarks or patents? If yes, please specify.

41. Do you have any art work, photography, music, or writings that you would like to protect through copyrights? If yes, please specify.

42. Is your URL (web address) registered?

43. Has your website been audited to check for breaches of privacy law, defamation and technology law issues?

44. Is your website compliant with the ADA (Americans with Disabilities Act)?

45. Have you updated your website to comply with European Union General Data Protection Regulation (EU GDPR) requirements (do you do business with the EU or have clients in/from the EU)?

LICENSING

46. Are any licenses or similar designation required to run your business?

47. Does your business have any current occupational license(s)?

Client/Employee Documents & Agreements

48. Do you have standard client Agreements, Terms & Conditions, or other Agreements? Please specify.

49. Have all such clients or other Agreements either been prepared and/or reviewed by an attorney?

50. Do such clients or other Agreements contain provisions for any of the following? (check all that apply)
Mandatory ArbitrationAttorney FeesClient DefaultCollections ProceduresNoDon’t Know (Not Sure)

51. Do you have a formal quote-to-contract process in place?

52. Do you have employees? Independent Contractors?
EmployeesIndependent ContractorsBothNeitherDon’t Know (Not Sure)

53. If you have employees, are they paid hourly, or salary?
HourlySalaryBothDon’t Know (Not Sure)Not Applicable

54. If you have independent contractors, are they paid hourly, or salary?
HourlySalaryBothBy the ProjectDon’t Know (Not Sure)Not Applicable

55. Do all employees/contractors sign Agreements before commencing their roles?

56. Do such employee/contractor Agreements contain any restrictive covenants? (check all that apply)
Non-DisclosuresNon-SolicitationNon-CompeteOtherNoDon’t Know (Not Sure)
If Other, please specify.

57. Does your Company have an Employee Handbook?

58. Does your Company perform background checks on potential employees/independent contractors?

59. Does your Company have a drug testing policy?

60. Does your Company have a formal record-keeping process for employee/contractor documents (Signed contracts, I-9, W-9, W-4, etc.)

61. Does your Company provide employees/contractors with any benefits?
401KProfit SharingHealth InsuranceNoDon’t Know (Not Sure)Other
If Other, please specify.

Contract and Lease Review

62. Does your Company have any Lease Agreements for its office or premises?

63. Does your Company own its office or premises?

64. Does your company have any Contracts or Leases that it would like an attorney to review and/or explain the provisions of?

Business Plan and Growth

Business Plans: The next few optional questions are related to your company’s Business Plan. Business Plans and related items are critical to the establishment and success of many businesses. Business Plans are akin to a roadmap for your business, and a strong Business Plan can be the difference between success and failure. Sometimes they will be requested by banks, lenders, or investors.

65. Do you have a Business Plan or Executive Summary?
Business PlanExecutive SummaryNoDon’t Know (Not Sure)

66. Have you prepared Financial Statements (Income Statement, Balance Sheet, Cash Flow Statement, Statement of Changes in Equity)?
Income StatementBalance SheetCash Flow StatementStatement of Changes in EquityNoDon’t Know (Not Sure)

67. Have you prepared Financial Models or Pro Forma Projections?
Pro Forma ProjectionsFinancial ModelsNoDon’t Know (Not Sure)

68. Does your business have an exit strategy?

69. Could the business grow through franchising?

70. Could branches be established?

71. Do you anticipate that your business will expand into other States than your home State?

72. Do you anticipate that your business will expand your business into overseas markets?

73. Do you anticipate that your business will purchase any other businesses in the near future?

74. Do you anticipate that your business will merge with any other businesses in the near future?

75. Is there any additional information that you would like to share with us? Perhaps some details regarding your needs and goals for your business?

Section for Multi-Location Business

76. Does your business have multiple units?

If Yes, Where:

77. Are you interested in expanding your business?
Yes, we are already in the process of having our business franchised.Yes, we are looking to open other wholly owned locations.Yes, we are interested in expanding but need guidance on steps.No, we like things as they are.Don’t Know (Not Sure)

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