Session Title: Starting Your Own Firm: Challenges, Risks and Rewards
Educational Track: Emerging Professionals
Session Code: FR0319
Date: Friday, October 18, 2019
Time: 8:15 AM – 9:45 AM
LU/HSW: 1.5 LUs
You have decided to take the plunge and start your practice. Maybe you decided to do this on impulse or perhaps you have a carefully considered business plan. There are all kinds of questions that should be on your checklist.
- What legal entity should I have?
- Does it make a difference if I have a partner?
- What contract terms are important to have? To avoid?
- Should I use AIA forms of agreement?
- How do I distinguish my new firm from other small firms?
- What does insurance cover?
- How will potential clients know I am out there?
The panel will help you navigate these issues and more, whether you are just launching your career or have been racking up experience in a firm. This program will provide guidance to architects who are thinking of starting their own firms or have already done so and seek guidance on issues that should be answered no matter what stage of firm development you are at.
Learning Objectives: By the end of this session, participants will be able to:
- Understand how to legally practice architecture in New York State, whether as a sole practitioner or with partners,
- Understand the critical contract terms they should include in their agreements,
- Understand how to best market and brand their start-up firm,
- Appreciate the importance of having proper insurance in place for their new firm.