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E38 - Contractor’s Lawyer Gives You the Secrets You Normally Pay For
Description
In this episode of Beers with Contractors, hosts Will and Dillon discuss various aspects of the contracting business, covering crucial topics such as the importance of proper legal structures, essential contract clauses for protecting businesses, and the significance of equity incentives for employees. They also delve into the complexities of business acquisitions, offering practical advice on avoiding common pitfalls. Special guest Matt Jones, a lawyer specializing in entrepreneurship, shares his insights on the legal side of starting, growing, and eventually selling a contracting business. He provides detailed explanations of NDAs, LOIs, and earn-outs, as well as the nuances of phantom equity. This episode is packed with valuable information for contractors at all stages of their business journey.
00:00 Introduction
02:02 Q3 Financial Reviews and Strategic Hiring
03:31 Hiring Your First Salesperson
04:43 Training and Onboarding Sales Reps
09:01 Introducing Matt Jones
19:11 Key Contract Clauses for Contractors
24:48 Common Legal Mistakes and How to Avoid Them
31:15 Approaching Partners and Investors
32:26 Assessing Business Viability for Acquisition
33:42 Equity and Phantom Equity Explained
39:08 Legal Counsel and Dispute Management
42:13 Selling Your Business: Key Steps and Considerations
44:04 Navigating NDAs and LOIs
49:22 Common Pitfalls in Acquisition Deals
56:24 Real Estate and Asset Management in Business Sales
58:43 General Legal Guidance for Contractors
01:00:24 Conclusion
ShipShape:
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Website: https://www.shipshape.ai/get
Email: [sam@shipshape.ai](mailto:sam@shipshape.ai)
Contact Matt Jones at:
LinkedIn: https://www.linkedin.com/in/mattjoneslawyer/
Instagram: https://www.instagram.com/lawyer_for_entrepreneurs/
Email: matt@resolutionlegal.com
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