Welcome back to another episode of Harmonious at Lunch, your go-to podcast for actionable business strategies. I'm Brandon Gano, your host, guiding you through the complex world of business growth. Today's episode features a crucial yet often overlooked topic: legal issues that every business owner must be aware of. Joining us is Matthew Fornaro, founder of Matthew Fornaro P.A. Law Group, who brings over 21 years of expertise in business and commercial litigation.

Guest Bio: Matthew Fornaro is the founder of Matthew Fornaro P.A. Law Group, specializing in legal issues facing small and medium-sized businesses. His firm is dedicated to helping new and small businesses navigate their legal challenges. You can learn more about Matthew and his services at fornarolegal.com and connect with him on Facebook at facebook.com/fornarolegal.

Episode Highlights:

Legal Foundations for Businesses: Matthew emphasizes the importance of having foundational documents in place when starting a business. This includes articles of incorporation, corporate bylaws, or an operating agreement for LLCs. These documents are crucial for securing loans, selling your business, or handling disputes.

The Importance of Contracts: Contracts are vital in every aspect of business. Whether it's employment contracts, vendor agreements, or service contracts, ensuring they are detailed and robust can save you from future legal troubles. Matthew advises that invoices should be treated as contracts and include specific terms, venue provisions, and attorney fee clauses.

Custom vs. Generic Documents: Matthew explains the benefits of having custom-made documents tailored to your business's specific needs over generic templates from online services. Customized documents are more thorough and better suited to protect your business interests.

Regular Legal Check-Ins: Just as you regularly meet with your CPA, Matthew recommends regular check-ins with your attorney. This proactive approach can help you avoid potential legal issues before they become significant problems.

Areas with High Litigation Risks: Common areas of business litigation include employment disputes, non-compete agreements, and contract performance issues. Matthew shares insights on how to prepare for these common pitfalls and protect your business.

Notable Quotes:

• "You have to comply with formalities and you have to have contracts. If you take anything away from this episode, that's it."
• "If you're ever going to get sued or take out a loan, having those basic documents is crucial."
• "Custom documents say more about you and your business than generic ones ever could."

Key Takeaways:

1. Foundation First: Ensure your business has all foundational legal documents in place from the start.
2. Detailed Contracts: Always have detailed and robust contracts for all business dealings.
3. Custom Legal Work: Opt for custom-made documents tailored to your business needs for better protection.
4. Regular Legal Reviews: Schedule regular meetings with your attorney to stay ahead of potential legal issues.
5. Prepare for Litigation: Be aware of common litigation areas and prepare accordingly with proper legal guidance.

Connect with Our Guest:

• Website: Matthew Fornaro P.A. Law Group
• Facebook: facebook.com/fornarolegal

Final Thoughts:

Legal issues are an inevitable part of running a business, but with the right preparation and guidance, you can navigate them successfully. Visit Matthew's website at fornarolegal.com to get expert legal advice tailored to your business needs. Connect with him on Facebook at facebook.com/fornarolegal for regular updates and insights.

Don't forget to like, comment, and subscribe to Harmonious at Lunch for more essential business advice. Visit whadif.com to explore more resources and support for your business journey. Thank you for joining us, and we'll see you in the next episode!

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