Check out our March newsletter!
March 2022
Support Local CELEBRATING AND PROTECTING SMALL BUSINESSES
I’ve always had a passion for entrepreneurship. I mean, it’s the American dream! It takes a lot of courage to go out on your own and become self- sufficient, and as a business owner myself, I want to help entrepreneurs and small-business owners protect the legacy they are also building. Both Mr. Douglass and I represented small-business owners for years, but we recently made the commitment as a firm to focus a major part of our practice towards assisting more small-business owners in their legal endeavors. Along those lines, it’s only fitting as part of this transition that we will celebrate Mom & Pop Business Owners Day on March 29. This holiday is really a celebration of the businesses that make up our country. JP Morgan Chase & Co. reports that 88% of America’s businesses have fewer than 20 employees, and 48% of employees work for these small operations. It’s also important to remember that many of the large corporations that are headquartered in our region, like FedEx, AutoZone, and International Paper, started out as smaller operations, too. When you support your local small business, you do so much more than help that business. You support your economy by keeping your money local, you help business leaders create jobs, you support families (both of employees and employers) across the region, and you contribute to the vibrancy of a community. There is a sense of pride that comes from creating a community that’s built around small businesses and mom-and-pop shops. When tourists come to
that can come from owning and operating a business. Legal protections are necessary for online businesses, too.
I’m completely fascinated by this area of law, but I’ve also found that when I represent or work with business leaders, I not only become a better business owner, but also a better attorney. This arena of law presents complex and sometimes convoluted issues, which require significant thought, contract knowledge, and negotiation. Those skills are not easily transferable from the classroom into the real world, and over the course of the past 18 years providing
our region, they seek out those local spots, looking for the pride and uniqueness that make our city great.
counsel to numerous businesses ranging from Papa John franchises to multimillion-dollar medi-clinics, I acquired valuable legal knowledge and practical knowledge too. Simply put, working with entrepreneurs makes me a better attorney. If you’re a business owner, I encourage you to seek legal representation to properly protect your company and avoid vulnerable situations. As they say, an ounce of protection is worth a pound of cure. If we can offer you protection, call our team today.
“THERE IS A SENSE OF PRIDE THAT COMES FROM CREATING A COMMUNITY THAT’S BUILT AROUND SMALL BUSINESSES AND MOM-AND-POP SHOPS.”
I want Douglass & Runger to help protect those local businesses. Our business law services are designed to protect entrepreneurs, visionaries, inventors, and other innovators who help move the world forward. You would be amazed at how many successful business owners still rely on handshake deals or neglect ensuring their governing documents, such as corporate by-laws or operating agreements, remain updated.
These oversights present major liabilities, and it’s not just a hazard for the CEO or owner. Employees, vendors, and the other parties are vulnerable when proper legal protections are not put in place. And these issues expand beyond the brick-and-mortar businesses, too. These days, particularly in our post-COVID-19 world, it’s not uncommon to have a completely online business, but this does not limit legal concerns
And if you’re a community member, I encourage you to support local businesses. Your purchase has a great impact on our community, and that can never be stated enough.
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DO ALL ATHLETES HAVE BAD TEETH?
DITCH THE SPORTS DRINKS, GET A MOUTHGUARD
Sports drink commercials would have us believe that the secret to an athlete’s success can be found at the bottom of their drinks. And in theory, they are not wrong! The right nutrition and proper hydration can help an athlete outpace even the stiffest competition, but sports drinks are not healthy — for many reasons. Sports drinks often contain high levels of sugar, which is great for short bursts of energy but not so much for your teeth. Over time, the excessive use of these sugary drinks can cause decay, which can be painful and detrimental to the integrity of an athlete’s teeth. In 2015, a European study found that of 352 athletes training for the 2016 Rio Olympics, nearly 50% had some form of tooth decay. While most maintained a healthy oral care routine, including brushing, flossing, and not smoking, many of these athletes were consuming sports drinks, energy gels, and nutrition bars — all loaded with sugar. Furthermore, it may also impact an athlete’s performance. A recent study found that 40% of athletes surveyed were bothered by their oral health, and 18% said it had an impact on their athletic skill. After all, it’s difficult to move gracefully down the track when your gums are throbbing in pain!
However, sports drinks are not the only culprits in bad oral hygiene habits among athletes. Dental professionals encourage many athletes — of all ages and sport preferences — to wear mouthguards. These devices are fitted to an athlete’s teeth and can protect their lips, tongue, face, and jaw. So, when your second-base player tries to field a bad-hop ground ball off their face or your power forward makes a move and takes an elbow to the jaw, their oral health is better protected. This spring, as new youth sports seasons begin, protect your athlete from poor oral health in three easy steps. (These are great for our weekend warriors, too!) 1. Fuel up with water instead of sugary sports drinks. 2. Get fitted for a mouthguard and wear it regularly. 3. Brush twice each day, and floss once each day. You can learn more about oral health for athletes at your next dental appointment or by visiting the American Dental Association’s website at MouthHealthy.org.
Employee Training Is Data Protection
HOW TO DEPLOY THIS TOOL
The cost of not training your employees about how to manage data and prevent breaches can be exponential. A study by IBM and the Ponemon Institute found that breaches cost companies across the globe an average of $3.86 million. That number spikes to $8.64 million for American companies. Is that a loss you can handle? Your approach to data protection should primarily focus on prevention, but technology security tools only go so far. One of the most overlooked forms of data protection involves your most valuable asset: your employees.
the potential scam from occurring? How can they verify the source and credibility of the data? And how should they utilize the data daily to avoid unintentional breaches? These questions should be at the core of your data protection training.
Employee training to prevent data breaches is an investment back into your company. Here’s how to capitalize on it.
Be tight-lipped. When there are too many cooks in the kitchen, you’re bound to have a mess. The only employees who need access to data are the people who need it for their exact roles. For instance, in many cases, only your billing department needs access to credit card information — not all of your staff. And after an employee leaves, it’s vital that you remove their credentials immediately. Not doing so leaves you vulnerable. When it comes to business protection, our team at Douglass & Runger has the expertise to help you cement your company’s legacy. Learn more about this and our other legal services online at DouglassRunger.com.
Teach them about scams. There are still plenty of hackers who find their way into companies by way of counterfeit links or fake email addresses. And it’s much more sophisticated than when email was first on the scene. Thieves only need to change one or two characters in their email address to fool unsuspecting readers. Teaching your employees about the many ways in which they can be fooled into giving away information is the first step in helping employees be well-versed on data protection. Create protocols and policies. If an employee suspects they may have found a scam or breach, what should happen next? Who should they notify, or what steps should they take to prevent
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Optimize Succession Planning
Easy March Madness Chili
2 THINGS TO CONSIDER
An entrepreneur’s career is built on navigating new roads, but when it comes to handing over the controls, doing so isn’t always easy. When you fail to create a succession plan, this becomes almost impossible. Succession plans provide a map through which business owners can legally and smoothly pass their business onto a new leader. These plans can also serve as guidelines for replacing shareholders and owners in the event of unexpected death or incapacitation. Not having this plan, or failing to update documented procedures, will leave your company vulnerable in emergency situations.
Inspired by MyRecipes.com
Cheer on your favorite team and chow down in minutes with this easy chili recipe!
INGREDIENTS
• 2 lbs ground beef
• 2 16-oz cans diced tomatoes
Here’s how you can avoid that.
• 2 tbsp chili powder
Determine the best plan for your business. Carefully consider who should replace you or your shareholders. This may look like assigning a specific person to the position or assigning a current role to these positions. For instance, you may decide the person in your chief financial officer position is the best employee to replace you, regardless of who fulfills that role at that time. To find the right person for this position, ask yourself who could step up in an emergency. Do you trust them to run your business in a way that propels it forward? (If not, start training them now!) Do they share your values? If so, you have found your replacement. Make it legally binding. Once you have determined your successor, it’s necessary to memorialize it with valid, legal documentation in your estate plan and through your company’s governing documents, such as corporate by-laws, resolutions for corporations, or an operating agreement for your limited liability company, outlining these very wishes. If you fail to do so, the fate of your business could fall into the hands of the legal system, where decisions may be made on your behalf that don’t align with your wishes or goals. And don’t assume your team knows the plan for your exit from your company. It’s important that the key players involved in your succession plan understand their roles and expectations in an emergency or planned exit. Overview what you would expect of them, and if the time is right, start training those employees about how to preserve the legacy you have built.
• 2 16-oz cans small red beans
• 1 tbsp Creole seasoning
• 2 8-oz cans tomato sauce
• 1 tsp ground cumin
DIRECTIONS
1. In a deep pot, brown the beef, stirring often.
2. Once beef is cooked, add chili powder, Creole seasoning, and cumin, cooking for 1 minute. 3. Stir in diced tomatoes, beans, and tomato sauce and bring the mixture to a boil. 4. After the mixture boils, reduce the heat to low and let chili simmer for 15 minutes. 5. Serve with toppings of choice, like cheese, sour cream, or chives. INSPIRATION “Wonder is a heightened state of awareness that’s brought on by something unexpected that can delight us or disorient us or both.” –Jeffrey Davis
Our team at Douglass & Runger can help you create a succession plan that is best for your company and your goals. Learn more online at DouglassRunger.com.
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2820 Summer Oaks Drive Bartlett, TN 38134 901-388-5805 www.DouglassRunger.com
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Advertising Material
1 Why We Support Local 2 Attention Parents of Athletes — You Want to Read This! The Secret Weapon in Data Protection 3 2 Steps for Thoughtful Succession Planning Easy March Madness Chili 4 Create a Keepsake for Good Luck Year Round Inside This Issue
Make a 4-Leaf Clover Keepsake BUT FIND THE ELUSIVE GOOD-LUCK CHARM FIRST
One of St. Patrick’s Day’s most popular symbols is a four-leaf clover. In Ireland, these clovers represent luck and good fortune. Each leaf on the clover has a different meaning — faith, hope, love, and success. It’s a tradition to find a four-leaf
Instead of staring at the patch in close detail and counting leaves, search the patch without focusing on the tiny details. This increases the odds of eyeing a four-leaf clover because the different patterns, shapes, and sizes of these clovers will jump out at you. If you find one, keep looking! There’s a chance another one might be nearby. Clover Craft Once you find your clover, preserve the luck in it all year by placing it in a picture frame. First, gently press the clover leaves between the pages of a large book for several days to flatten them out. After pressing, you can add green food coloring to your clover to enhance its color. Once it’s dry, clean it and let it sit overnight. Then, place your clover onto acid-free paper, cut to fit the size of a picture frame of your choice. Next, use acid-free glue to keep your clover in place, and finally, seal your frame shut. You now have your personal good luck charm! Searching for a four-leaf clover and creating a keepsake will be a great bonding experience for you and your family. We wish you luck! Happy St. Patrick’s Day!
clover on St. Patrick’s Day and do activities involving this lucky leaf. So, how do you find these good-luck charms, and what can you do with them?
How to Find a 4-Leaf Clover Although it may seem difficult, it’s easier than you might think. First, find a dense patch of white clover — near it is where four-leaf clovers reside. They are different from the rest and are often smaller, so keep that in mind when you look for the lucky green clovers.
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