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UMKC Entrepreneurial Legal Services Clinic

UMKC Entrepreneurial Legal Services Clinic. MISSION Assist business-start-up owners with company formation services, and to train students to render high-quality legal services. UMKC ELS Clinic. Coursework requirements Business Organizations Federal Taxation (both required for graduation)

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UMKC Entrepreneurial Legal Services Clinic

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  1. UMKC Entrepreneurial Legal Services Clinic • MISSION Assist business-start-up owners with company formation services, and to train students to render high-quality legal services

  2. UMKC ELS Clinic Coursework requirements Business Organizations Federal Taxation (both required for graduation) Business Planning (recommended)

  3. UMKC ELS Clinic Promotes Pro Bono tradition: • Assist low-income entrepreneurs • Form non-profit organizations and prepare tax-exempt application • Draft co-ownership agreements among multiple owners

  4. UMKC ELS Clinic Assist low-income entrepreneurs • 80% of median US income • Cannot afford legal fees

  5. UMKC ELS Clinic Practical Skills • Interview clients • Marshall the facts • Educate clients to understand choices and consequences • Choice of entity analysis • Draft formation documents • Prepare “owner’s manual”

  6. UMKC ELS Clinic Advice about general business operations: • Insurance • Income, self-employment, and sales taxes • Local regulations • Name selection and trademark • Entity maintenance

  7. UMKC ELS Clinic PROMOTES PRO BONO SERVICE: • Appreciate challenges of low-moderate self-employed business people • Will continue to serve them after graduation • Clients build wealth and become paying clients

  8. UMKC ELS Clinic Form non-profit organizations and prepare tax-exempt application • Practical Skills: interview, marshall, educate, analyze choice, draft documents

  9. UMKC ELS Clinic Also • Discuss non-profit program implementation • Draft organizational documents (articles, by-laws, minutes, conflicts policy, SS4) • Prepare application form 1023 • Maintenance memo

  10. UMKC ELS Clinic • Learn non-profit organizations operation and compliance necessary for acquiring and maintaining tax-exempt status

  11. UMKC ELS Clinic PROMOTES PRO BONO SERVICE • Not only encourages assistance of non-profits as attorneys but also expands their education and promotes board service • Gives transactional practitioners a way to provide pro bono service

  12. UMKC ELS Clinic Draft co-ownership agreements among multiple owners • Practical Skills: interview, marshall, educate, analyze choice, draft documents • Learn to fit the “form to the business deal” (not the deal to the form)

  13. UMKC ELS Clinic • Educate clients about complex options (buy-sell, elective tax treatment, management structure) • Draft documents faithfully reciting clients’ desires

  14. UMKC ELS Clinic PROMOTES PRO BONO SERVICE • Students see promise in assisting non-paying clients who may later become paying clients • Assist capital-strapped entrepreneurs who cannot afford fees

  15. UMKC ELS Clinic • Clients avoid problems of poor organization and planning • Better position to attract venture capital • Adds to economic development

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