As another year draws to a close, business owners often find themselves juggling holiday rushes, final quarter financials, and planning for the year ahead. But the end of the year is also one of the most important times to evaluate your company’s legal, financial, and operational health. Proactive review now can prevent costly disputes later and position your business for a stronger 2026.
At Plakas Mannos, our business attorneys help companies of all sizes use the end of the year as a strategic checkpoint. Below are key considerations every business owner should review before the calendar turns.
Particularly in the case of small businesses, items such as updating operating agreements or verifying that ownership information is current are often placed to the wayside. Failing to keep such details current gives rise to potential disputes whenever an unexpected event occurs, such as the death of a shareholder. Our small business attorneys say the end of the year is an ideal time to confirm your corporate house is in order. This may include items such as: (1) ensuring annual meeting minutes are completed and properly stored; (2) updating operating agreements, shareholder agreements, or bylaws; (3) verifying that officers, directors, and ownership information are current; (4) confirming compliance with state and federal filings; and (5) reviewing licenses or permits for upcoming renewal deadlines.
Failure to maintain proper governance can jeopardize liability protections—something no business owner wants heading into the new year.
Many businesses often re-use the same contracts for various matters. In doing so, business owners often fail to review the terms therein and make sure the language is up to date. Such a review is an important step as the business world is ever evolving, requiring contracts to reflect those rapid changes and be updated accordingly.
With the end of the year approaching, business owners should review items such as their vendor agreements, sales contracts, insurance policies, employment agreements, and any other contracts in place. It is crucial to ensure that such documents are aligned with current operations and goals and are preventing unnecessary risks. A comprehensive contract audit now can prevent surprises next year.
The end of the year is also a critical time to evaluate employment practices, especially given frequent changes in state and federal law. Business owners should take time to review employee handbooks and policy updates, non-compete, non-solicitation, and confidentiality agreements, workplace safety compliance, and other similar facets to reduce the risk of employment disputes in 2026 and ensure the business is aligned with evolving regulatory standards.
In the past year, your company may have launched new products, services, or branding. While your primary concern may be promoting these materials and ensuring profitability, it is equally important to ensure that your business has the proper protections in place to prevent misappropriation and unfair competition by competitors. These protections may include trademark registrations, copyright registrations, patent evaluations, and trade secret protections.
Your intellectual property is often one of your most valuable assets, and it is important to ensure that it’s protected heading into the new year. That’s where our intellectual property lawyers can help.
The end of the year doesn’t just mark the close of a calendar—it represents an opportunity to strengthen your business’s legal foundation and prepare for sustained growth. The attorneys for business owners at Plakas Mannos are ready to help you evaluate risks, address gaps, and position your company for success in 2026 and beyond.
Give our team a call today at 330-455-6112 to see how we can help you ensure your business enters the new year protected, prepared, and poised for growth.
Hunter Miller, an associate attorney, focuses on commercial litigation, mergers and acquisitions, intellectual property litigation, and other practice areas.