As the year winds down, many business owners turn their attention to taxes, budgets, and planning for the year ahead. But there’s another critical area that deserves your attention, legal compliance.
Neglecting annual legal tasks can expose your business to risk, from fines and contract disputes to employee complaints and missed opportunities for growth. The good news? A simple year-end legal review can ensure you start the new year organized, compliant, and positioned for success.
At Francis Hansen & Martin, our business law attorneys in Bend work with companies across Oregon to help them close out the year confidently. Here’s a comprehensive checklist to guide your review.
1. Review and Update Your Business Structure
Has your business changed significantly this year?
If you have added partners, expanded operations, or taken on new investors, it may be time to review your corporate structure.
Each business entity type, whether an LLC, partnership, or corporation, comes with different tax and liability implications. An annual review ensures your structure still supports your long-term goals.
Also, verify that your registration with the Oregon Secretary of State is up to date. Annual renewals are mandatory for all Oregon businesses, and missing this filing can result in administrative dissolution.
Our business law attorneys in Bend can review your entity documents and ensure your operating agreements, bylaws, and ownership records are current and compliant.
2. Audit Your Contracts and Agreements
Contracts form the foundation of every business relationship with clients, vendors, landlords, and employees. Yet many companies fail to revisit them until something goes wrong.
At year-end, review all key contracts for:
- Expiration dates and renewal clauses
- Termination or notice requirements
- Non-compete, confidentiality, or indemnity provisions
- Updated legal names and contact information
If your business has grown or your terms have changed, it’s time to refresh your templates. Our team of experienced attorneys in Bend help Oregon businesses draft and negotiate strong, enforceable contracts tailored to their specific needs.
3. Evaluate Employment Practices and Compliance
Employment laws evolve quickly, and Oregon is no exception. From paid leave to workplace safety, staying current helps avoid costly penalties and disputes.
As part of your year-end review:
- Confirm your employee handbook reflects the latest state and federal laws.
- Review classifications for employees vs. independent contractors.
- Audit payroll and wage records for compliance with Oregon BOLI standards.
- Update job descriptions and benefits documents as needed.
Our employment law attorneys regularly assist Bend businesses with policy updates and compliance audits to minimize risk.
If you’ve experienced workplace issues this year, like disputes, harassment complaints, or terminations, it’s also a good time to consult with our harassment and wrongful termination attorneys in Bend. This ensures proper documentation and response protocols are in place.
4. Check Your Licensing, Permits, and Insurance
Every Oregon business must comply with state and local licensing requirements. Failing to renew or update a permit could lead to delays, penalties, or even closure.
Confirm that:
- State and local licenses are active and properly categorized.
- Industry-specific certifications (contractors, real estate, healthcare, etc.) are current.
- Business liability and professional insurance policies provide sufficient coverage.
It is also smart to review your insurance with your broker annually. As your operations grow, your coverage should grow with you.
5. Review Real Estate and Lease Agreements
If your business owns or leases property, year-end is a perfect time to revisit those agreements.
For tenants, check lease renewal dates, rent adjustment clauses, and maintenance obligations.
For owners or investors, ensure tenant compliance and evaluate whether to renew, refinance, or sell assets in the new year.
Our real estate and construction law team helps businesses negotiate favorable lease terms, resolve disputes, and protect their property investments.
6. Protect Your Intellectual Property
Your brand name, logo, and creative assets are among your most valuable business tools, but they only hold value if properly protected.
Ask yourself:
- Are all trademarks registered and up to date?
- Have new products, slogans, or marketing materials been protected?
- Are you monitoring potential infringement online?
If not, now is the time to act. We can coordinate with IP specialists to help ensure your intellectual property remains secure as your business grows.
7. Assess Tax Readiness and Recordkeeping
Before your accountant prepares your returns, make sure your records are audit-ready.
Organize financial statements, receipts, contracts, and employee tax forms.
Businesses should also confirm that:
- Payroll taxes were filed correctly and on time.
- All W-2s, 1099s, and year-end statements are accurate.
- Deductions and credits align with current IRS and Oregon Department of Revenue regulations.
Your attorney and accountant should work together to ensure legal compliance aligns with tax efficiency.
8. Plan for Succession and Continuity
Every business owner needs a plan for the unexpected, whether retirement, illness, or unforeseen changes in leadership.
If you haven’t already, consider developing or updating a succession plan that outlines:
- Who will manage the company if you are unable to do so.
- How ownership interests will be transferred.
- How key client relationships and contracts will be maintained.
Our firm’s estate planning attorneys in Bend can help business owners integrate succession planning into their personal estate plans to protect both family and company interests.
9. Review Pending Legal Matters
If your company faced any disputes, claims, or compliance issues this year, make sure they’re fully resolved before closing the books.
Work with your legal team to:
- Verify settlement terms are complete.
- Review any outstanding litigation or administrative actions.
- Address potential risks that could carry into the new year.
At Francis Hansen & Martin, our civil trials and appeals attorneys in Bend provide representation when needed, but we always focus first on prevention through careful planning and negotiation.
10. Set Legal Goals for the New Year
Finally, take a proactive approach. Rather than waiting for issues to arise, identify where your business could benefit from stronger legal foundations:
- Revising contracts for efficiency
- Creating employee training programs
- Updating corporate governance practices
- Exploring expansion or mergers
An annual strategy session with your attorney can reveal opportunities to reduce risk, improve operations, and position your business for sustainable growth.
Start the New Year on Solid Legal Ground
Your business’s success depends not just on sales and operations, but on a strong legal framework that supports everything you do.
At Francis Hansen & Martin, our attorneys provide ongoing counsel to help Bend-area businesses stay compliant, prepared, and ahead of change.
Schedule your year-end review with our business lawyers in Bend, Oregon. Together, we will make sure your business enters the new year protected, organized, and ready to thrive.
