Navigating the legal terrain as you set up as an entrepreneur can be tricky. There are a lot of legal issues to think about and figure out if you are trying to start off as an entrepreneur - whether you are a self-identified actual entrepreneur or an accidental entrepreneur by default - in order to enjoy long-term success of your business.  

In today's episode, we layout the legalities of setting up an enterprise to help entrepreneurs navigate this terrain. Mitch and I discuss the importance of testing developing ideas and making sure that there is product/service - market fit, the proper structure for setting up your business, contracts with employees and vendors, intellectual property licenses, and non-disclosure and non-compete agreements.

About our guest

Mitchell C. Beinhaker, Esq. is a business lawyer and estates attorney who runs a solo legal & consulting practice representing business owners, entrepreneurs, executives, and professionals.  Through his 28 years of experience, Mitchell has handled business development, marketing, firm management, along with business transactional work for clients of the firm.  He has extensive experience with corporate governance, commercial transactions, real estate, and risk analysis.  Using his years of practical experience, he drafts contracts, negotiates purchases, and can manage outside counsel for any corporate situation.  For business owners and executives, he creates and implements estate plans, along with succession plans to help companies continue for future generations.

As a transactional attorney, Mitchell has also handled the purchase and sale of multi-million-dollar businesses including insurance portfolios, restaurants, and even a small chemical company.  In the real estate area, he has handled and coordinated many commercial purchases and sales from contract drafting and due diligence, including all the zoning and environmental review, through the closing of title.  His work has involved helping with insurance and risk management as well as legal involvement with construction management projects.

Mitchell spends his practice development efforts networking, attending professional groups, and public speaking.  He is also the creator and host of his own audio podcast – The Accidental Entrepreneur  – where he interviews successful business people and professionals who share their knowledge and help you develop your business.  Episodes are available on Apple Podcasts, Google Podcasts, Amazon Music, Podbean, Spotify, Stitcher, TuneIn (Amazon Alexa), and iHeart Radio.  You can follow them on social media including Facebook and LinkedIn.

Mitchell is a graduate of Cornell University (’89) and received his law degree (JD) from New York Law School in 1992. He was a tax intern with Internal Revenue during law school and is admitted to practice in the states of New Jersey and Pennsylvania.  He was awarded the Chartered Life Underwriter (CLU) degree from The American College in 1998.

Links to resources mentioned in the interview:  

1. Email Mitch: mitch@beinhakerlaw.com
2. Mitch's website
3. The 4 Part Business Plan