Limited Liability Company (LLC)
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Two participants: members are the owners, managers are elected by the
members and have fudiciary duty to act in their best interest - typically
responsible for both policy decisions and the day-to-day management
Members personal assets, other than their ownership interest in the firm,
are protected against liability for business claims against the firm, except in
the care of fraud or extreme wrongdoing
May be treated as a sole proprietorship for tax purposes (if only one
member), or partnership treatment
Intellectual Property Insurance
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, Coverage protects companies for copyright, trademark, or patent
infringement claims arising out of the company's operation
American Recovery and Reinvestment Act of 2009
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Provides tax cuts for families and businesses, funding for entitlement
programs (unemployment benefits), funding for federal contracts, grants,
and loans
Required of all employers
Efficiency-based firms
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Focus on fast and less-expensive project delivery. These firm's often
specialize in one project type or a narrow range of services and tend to
serve clients that are looking for standard solutions and quick turnaround
Umbrella or excess liability policies
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Provide higher limits in conjunction with underlying general liability,
automobile, and employer's liability policies
,Admitted carrier
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An insurance company licensed and authorized to do business in a specific
state and subject to regulation by the state insurance commissioner
Expertise-based firms
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Service offerings that test upon deep knowledge and / or exceptional
talent. Some of these firms are headed by "starchitects", with their unique
style and abilities, or specialists in a narrow band of professional
knowledge
Retroactive date
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The date on or after which any alleged or actual act, error, or omission
must have first commenced in order for coverage under the policy
Disciplinary, regulatory, or administrative expense reimbursement
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, Coverage agrees to reimburse the architect for reasonable legal fees and
expenses incurred in any disciplinary, regulatory, or administrative action
commenced directly against the architect
Common exhibits
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Rate schedules, reimbursable expense schedules, sample invoices,
standard scopes of services for each type of consultant regularly hired,
consultant standards
Break-even rate
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the overhead rate plus an assigned unit cost of 1.0 for an hour of salary
Target: 2.30 to 2.50 of total direct labor
C corporation (publicly traded)
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Give this one a try later!
Two participants: members are the owners, managers are elected by the
members and have fudiciary duty to act in their best interest - typically
responsible for both policy decisions and the day-to-day management
Members personal assets, other than their ownership interest in the firm,
are protected against liability for business claims against the firm, except in
the care of fraud or extreme wrongdoing
May be treated as a sole proprietorship for tax purposes (if only one
member), or partnership treatment
Intellectual Property Insurance
Give this one a try later!
, Coverage protects companies for copyright, trademark, or patent
infringement claims arising out of the company's operation
American Recovery and Reinvestment Act of 2009
Give this one a try later!
Provides tax cuts for families and businesses, funding for entitlement
programs (unemployment benefits), funding for federal contracts, grants,
and loans
Required of all employers
Efficiency-based firms
Give this one a try later!
Focus on fast and less-expensive project delivery. These firm's often
specialize in one project type or a narrow range of services and tend to
serve clients that are looking for standard solutions and quick turnaround
Umbrella or excess liability policies
Give this one a try later!
Provide higher limits in conjunction with underlying general liability,
automobile, and employer's liability policies
,Admitted carrier
Give this one a try later!
An insurance company licensed and authorized to do business in a specific
state and subject to regulation by the state insurance commissioner
Expertise-based firms
Give this one a try later!
Service offerings that test upon deep knowledge and / or exceptional
talent. Some of these firms are headed by "starchitects", with their unique
style and abilities, or specialists in a narrow band of professional
knowledge
Retroactive date
Give this one a try later!
The date on or after which any alleged or actual act, error, or omission
must have first commenced in order for coverage under the policy
Disciplinary, regulatory, or administrative expense reimbursement
Give this one a try later!
, Coverage agrees to reimburse the architect for reasonable legal fees and
expenses incurred in any disciplinary, regulatory, or administrative action
commenced directly against the architect
Common exhibits
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Rate schedules, reimbursable expense schedules, sample invoices,
standard scopes of services for each type of consultant regularly hired,
consultant standards
Break-even rate
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the overhead rate plus an assigned unit cost of 1.0 for an hour of salary
Target: 2.30 to 2.50 of total direct labor
C corporation (publicly traded)
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