Running your own consulting firm requires you to deal with many legal issues. You need to establish your firm as a legal entity, conduct contracting activities, and protect your organization from damaging legal issues. You may also deal with legal disputes like contract violations, infringement actions, and confidentiality breaches. Knowing these possible issues and preparing for them before they happen can keep you out of trouble.
- Running a consulting firm means you have…to deal with legal issues.…You'll need to establish your firm…as a legal entity,…conduct contracting activities,…manage employment and contractor agreements,…and protect your intellectual property.…I highly encourage you to engage competent legal counsel…for these issues.…Your clients will insist you're legally able…to do business in their locale.…Every country, state, or locality has different rules…and requirements for setting up your business…as an entity.…
You'll need to create multiple documents,…like an operating agreement, a company charter,…and employment agreements.…Once you have those documents,…you'll need to make governmental…and tax agency fillings to legally be in business.…When first starting out as a consultant,…you'll want to have a standard services agreement.…That document will cover the terms…of your relationship with your clients…and also spell out the work you'll do…and the fees you'll charge.…Many clients will insist you use their standard contract.…
- Identify types of consulting business models.
- Describe revenue models.
- Explain how to estimate and manage costs.
- Price services using pricing strategies.
- Explain how to negotiate deals with clients.
- List effects of responding to RFPs.
- Identify the phases of constructing a consulting engagement.
- Present findings and implement recommendations.
- Describe different ways to manage legal issues.
Skill Level Beginner
1. Define Your Consulting Business
2. Marketing and Selling
3. Contract and Protect Yourself
4. Run the Consulting Engagement
5. Handle Administration
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