Business law
By Larry Sparks
The Eastern Plains Chamber of Commerce held its June 3 meeting at Grace Community Church in Falcon, where members gathered for networking and professional development. The Chamber sponsored breakfast during the networking portion of the event.
The featured speaker was Christian Osterhout, founder of Osterhout Law. Originally from Oklahoma, Osterhout has established his legal practice in El Paso County, focusing on serving the business community through business law, estate planning, and tax planning services.
During his presentation, Osterhout emphasized the importance of business law for entrepreneurs and business owners. He explained that business law is not a single service but an ongoing relationship that evolves as a company grows and changes.
Legal challenges faced during a company’s startup phase differ significantly from those encountered during expansion, sale, or succession.
Osterhout discussed how properly structured agreements, carefully reviewed contracts, and sound legal planning can protect business owners and their assets. He also highlighted common and costly mistakes, including poorly drafted agreements, incorrect business entity selections, and improperly planned ownership transfers.
The presentation also addressed estate planning, with a particular focus on business succession planning. Osterhout explained how succession plans can help business owners avoid significant financial and operational disruptions. He cited examples ranging from younger business owners who die without a will to older owners preparing for retirement without a transition strategy in place. Effective legal planning, he noted, can help ensure continuity and preserve business value.
In discussing tax planning, Osterhout focused on business organization structures, including the differences between limited liability companies (LLCs) and S corporations. He described legal planning and tax planning as closely connected disciplines, noting that decisions regarding business structure and estate planning often carry long-term tax implications.
Drawing on his background in accounting, Osterhout explained how his practice integrates tax considerations into legal planning. This approach enables him to evaluate both the financial and legal aspects of a client’s situation and identify opportunities that might otherwise be overlooked.
The Eastern Plains Chamber of Commerce expressed its appreciation for Osterhout’s educational presentation and also recognized the Pikes Peak Small Business Development Center for referring him as a speaker.
