If you’re a dentist in Michigan, LaMaster Law can help with the legal and business aspects of running your business. From planning the groundwork for a new practice to expanding upon an already existing one, we can help you succeed with your business aspirations. LaMaster Law has collaborated with hundreds of dental professionals in the state of Michigan to create success stories about their dental practice. If you are looking for guidance for your own practice, our firm can offer the following services to you:
- Starting Up Your Dental Practice
- Buying or Selling a Dental Practice
- Dental Associate Agreements
- Buying or Selling Real Estate
- Lease Negotiations for a Dental Practice
Starting Up Your Own Dental Practice in Michigan
For a budding entrepreneur, starting a new dental practice can be an exciting but stressful endeavor. Amid all the excitement, it may be difficult to find a starting point from which you can get your practice off the ground. LaMaster Law has extensive experience working with Michigan dentists to successfully develop their new dental practice start-up. We strive to help you through the entire process from the very beginning by helping you to form your business entity, buying real estate, or negotiating the office lease. LaMaster Law also offers in-state, CE-approved seminars to educate dental professionals in developing and sustaining a successful business.
Buying or Selling a Dental Practice in Michigan
As a firm who specializes in working with dental professionals, a significant part of our practice is representing clients in dental practice transitions. Whether you are seeking to sell your practice, acquire a new practice, or expand, Lamaster Law is here to help. Specific to the practice transition process, we provide extensive guidance and counseling in the following areas:
- Structuring your business entity.
- Drafting, reviewing and negotiating the Letter of Intent: The initial document that states the purchaser’s intent to acquire the assets or equity of the dental practice.
- Drafting, reviewing and negotiating the Purchase Agreement: In a dental practice transition this involves the sale of the assets or the stock/membership interest of the practice.
- Non-Compete and Non-Solicit Agreements: These are agreements between the buyer and seller that afford the buyer protection from a seller encroaching on future business in a similar geographical area for a certain period of time.
- Reviewing and negotiating the real estate situation for the practice, whether that is purchasing or leasing the dental practice.
During the acquisition or sale process, LaMaster Law represents clients from the beginning planning process all of the way through to the signing of the final transactional documents. Our goal is to provide buyers and sellers with comprehensive counseling and in order help meet their ultimate goals.
Michigan Dental Associate Agreements
Establishing a sound structure by which to hire dental professionals (as an employee or independent contractor) is crucial for dental practices. LaMaster Law can help you build sound associate agreements as a foundation between you as the employer and the associate. We focus on several factors within these documents: employee status, wage compensation and incentives, fringe benefits, and the conditions of an employee’s termination, including non-compete, non-solicit and confidentiality agreements. LaMaster Law can also establish the parameters for future partnership agreements and buy-ins between the employer and the dental associate. LaMaster Law also has considerable experience advising employers with a wide range of employment disputes originating from poorly-constructed associate agreements, lack of employee handbook or policies, or a total lack of agreement. We work with the parties to ensure the greatest possible outcome for our clients.
Buying or Selling Real Estate in Michigan
LaMaster Law provides comprehensive guidance through the legal process of buying or selling real estate for the dental practice. When working in real estate, things can be complex. At LaMaster Law, we have a depth of experience in advising clients on many issues related to buying and selling real estate, including:
- Buying and selling commercial real estate
- Drafting and reviewing real estate contracts
- Land use and zoning
Most people simply assume that once a purchase agreement is signed, most of the work has been done until it’s time to close. Nothing could be further from the truth. In fact, in most cases, the most important work is just getting started. Questions must still be answered, for instance:
- What sort of due diligence is appropriate for the real estate?
- Has there been any environmental testing conducted?
- Are there any defects in title that the title commitment revealed?
Hiring a knowledgeable attorney will protect your investment and give you peace of mind. In fact, most of our clients have told us that our services were not only worth the money spent, but also much more affordable than they originally thought. As an experienced real estate law firm, LaMaster Law can provide you that peace of mind. We help you complete the necessary legal documents and help you close the deal.
Dental Office Lease Negotiations in Michigan
The office location and space for a dentist is one of the most important “assets” of the practice. If you are not able to purchase the real estate, it is imperative to have a lease that is beneficial for the practice. A dental office lease must provide long term occupancy rights for the dentist on favorable financial terms.
LaMaster Law has experience in negotiating and reviewing lease agreements for dentists in Michigan. We utilize a process wherein we review over 65 items in the lease to make sure that you are receiving the most favorable terms. Our main goal is to see you maintain the greatest possibility for financial success and minimize your liability as a tenant. Many of our clients find that the little bit of money that they spend for our review saves them a considerable amount of headache and money down the road.
If you are a dentist in Michigan, contact us at LaMaster Law. We will be happy to assist you in every step to assure you the greatest foundation for professional and financial success.