During the process of negotiating an associate buy-in, parties have various legal issues they will need to address. Developing a checklist can help them avoid overlooking important details.
Understanding the Buy-In AgreementAn associate buy-in agreement allows a dental practice owner to let associates...
As a dental practice owner, you may have a choice between filling your staff with employees or independent contractors. However, before you make a hiring decision, you should understand the differences between employees and independent contractors and the legal and financial implications of those differences.
Understanding the DifferenceNewer dental practices may seek outside investment to finance continued growth, such as through opening new locations. However, practice owners should familiarize themselves with best practices to follow when selling equity.
Understanding the Type of Entity You’ve FormedThe first step in bringing on investors...
Non-dentists generally cannot own or control a dental practice directly in states that follow the corporate practice of dentistry doctrine. However, many states allow non-dentists to participate legally through management service organizations (MSOs) or related business structures. Understanding your state’s rules...
Picking a name for your dental practice can help you stand out and gain recognition in the market. However, another dental practice may already operate under a name you want to choose for your new practice. Can two dental practices have the same name?
Understanding Trade Names and...Before you can start a new dental practice, you must first meet various licensing requirements, including obtaining appropriate licenses from the state dental board. You may also need additional licenses or permits to start the business and open a dental office.
Understanding the Role of the State Dental...Successful businesses have strong brand identities. Creating this identity is important, but so is legally protecting it. Domain names, social handles, logos, and other intellectual property (IP) are cornerstones of your dental practice. Your brand influences how you market your business and how your current and potential patients perceive you and the...
You may need to determine the value of a specialty dental practice for various purposes, such as obtaining financing, buying out a partner, or purchasing the practice. However, specialty practices, such as orthodontics, oral surgery, periodontics, or cosmetic dentistry, may have unique factors that can make valuing the business more challenging compared...
Starting a new dental practice can offer practitioners an exciting professional and financial opportunity. However, opening a new practice comes with risks that owners should recognize and understand how to manage. Risk management for new dental practices should involve more than reacting when issues arise. Instead, risk management should also include proactively...
One of the early mistakes practice owners and managers may make when starting a new dental practice is violating state and federal wage and hour laws. Practices should familiarize themselves with the applicable laws and the common mistakes dental startups make when paying workers.
Understanding Wage and Hour...
