Description
A Business Legal Audit is a crucial step for ensuring your company is compliant with federal, state, and local regulations while identifying potential legal risks. At MarkSetGo Law, we offer a comprehensive review of your corporate governance, contracts, intellectual property, regulatory filings, employment practices, and tax compliance. Our thorough audit process helps you uncover gaps in your legal practices and offers actionable recommendations to protect your business from liabilities. With customized solutions for businesses of all sizes, we aim to safeguard your operations and ensure long-term success.
Our comprehensive Business Legal Audit service is designed to help you identify potential legal risks, ensure regulatory compliance, and review essential legal documents to protect your business. We focus on several key areas, including:
- Operating Agreement Review:
- Assess the terms of the LLC’s Operating Agreement for enforceability and compliance with current laws.
- Identify any missing provisions, necessary amendments, or updates to improve compliance and operational efficiency.
- State and Federal Compliance:
- Verify that the LLC adheres to state and federal requirements, including timely submissions of annual reports, tax filings, certificates of good standing, and business licenses.
- Financial Documentation Review:
- Evaluate capital contribution records to ensure legal compliance and identify potential risks related to the LLC’s financial stability.
- Employment and Contractor Agreements:
- Review contracts with employees and independent contractors to ensure legal sufficiency, enforceability, and compliance with labor laws and regulations.
- Governance and Management Structure:
- Analyze the LLC’s governance, including roles and responsibilities of members and managers.
- Review decision-making processes, dispute resolution mechanisms, and compliance with internal policies to identify potential risks or liability issues.
- Contractual Obligations and Vendor Agreements:
- Review third-party contracts (e.g., clients, vendors, suppliers) for legal protection and assess any contractual risks or deficiencies.
- Intellectual Property Protections:
- Identify gaps in intellectual property protection, such as trademarks, copyrights, and patents, and evaluate whether the LLC’s assets are adequately protected under current laws.
- Website Compliance Review:
- Review the Privacy Policy for adherence to data protection regulations like GDPR and CCPA, ensuring appropriate data safeguards.
- Evaluate the Terms and Conditions to ensure they are legally sound, enforceable, and clearly outline user responsibilities.
- Confirm that the website has a compliant Cookie Policy, transparent data collection practices, and appropriate Disclaimers to reduce legal risks.
- Ensure the presence of a copyright notice and measures to protect digital assets and content.
- Liability and Risk Management:
- Evaluate the LLC’s exposure to liability and potential legal claims.
- Review the adequacy of liability protections, such as corporate formalities, indemnification clauses, and insurance coverage.
Audit Scope and Client Requirements:
- The audit identifies risks, incomplete filings, and compliance issues. Corrective actions or legal intervention are available upon request in a separate agreement.
- To conduct the audit, the Client must provide the Firm with the documents listed in Exhibit A. Timely provision of these documents is crucial for the audit’s completion.
Deliverables:
- Comprehensive Audit Report: A detailed report summarizing the audit findings, highlighting risks, compliance issues, and recommended actions for mitigation.
- Executive Summary: A high-level overview of key findings and recommendations, provided alongside the audit report.
- Action Plan: A step-by-step guide for addressing identified risks, closing compliance gaps, and improving operations, giving the Client a clear path for implementing corrective actions.
