What are the most common legal challenges faced by entrepreneurs and startups in Columbus, and how do you help them navigate these issues? I can’t say that I know all the common challenges, but I can share observations of a few recent consistent challenges coming through our firm: optimal business structure; economic development considerations; and financing and capital access. When I speak about business structure in this article, I include formation, workforce, and operational models. Clients are determining, during this shifting climate, which form, or forms, is most advantageous for their current sustainability, long-term, or exit strategies. Considerations are intensified by funding determinations, succession planning, and the fight for talent. Now that Ohio, especially the central region, has become a hotbed of business and population growth, we find our office dealing more with economic development considerations. This includes considerations such as determining where to hold or sell real property, when, what, and where to develop commercial ventures, and how to protect assets situated in areas targeted for renewal and development amid competing socioeconomic realities and aspirations. NFPs, public entities, investors, and investor groups are bringing more considerations around accessing, securing, and making available capital. As the landscape continues to change, so do interests. Navigating these interests requires a delicate balance of knowledge, access, motivations, compliance, coupled with public perception, political uncertainty, and a vacillating marketplace. 18 LAWYER MONTHLY OCTOBER 2024 How do you work with governing boards to ensure that both legal and business objectives align smoothly within an organization? Working with boards is enjoyable because it is multifaceted. You get the chance to engage and balance multiple personalities, ambitions, understandings, and both personal and corporate targets. Considering the matter at hand while balancing those considerations and attempting to bring about unified action feels more like an art than a transaction. At a high level, my work begins with understanding the business objectives. If the organization has a defined organizational strategy or set of business objectives, I can undertake diligence to understand the organization.
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