February 2019 – Dickinson Law's Inside Entrepreneurship Law Blog

U.S. Department of Agriculture Makes Funding Available for Small Businesses in Rural America

By: Zach Gihorski

Did you know the United States Department of Agriculture (USDA) offers several funding opportunities targeted at both small business owners and non-profits who serve businesses in rural communities? Probably not. These USDA programs provide assistance to growing businesses in rural communities via loans and grants. You are probably asking yourself why you have never heard of this program before, which is completely understandable. There are numerous programs provided by the government that business owners never hear of. The truth is, these programs just do not come with any marketing or promotional dollars attached to them to spread the word.

USDA MicRo-entrepreneur Assistance Grant Program

The Rural Micro-Entrepreneur Assistance Program (RMAP) is designed to give funding to non-profit organizations servicing rural businesses, or as USDA calls them, Microenterprise Development Organizations (MDOs), who in turn administer and manage the funds given out to micro-entrepreneurs.

What is a Microenterprise Development Organization (MDO)?

There are three type of entities qualified to receive the RMAP funding from USDA-Non-profits, Federally-recognized Tribes, and Institutions of higher learning. These organizations receive the funding from the USDA and then use those funds to support rural micro-entrepreneurs. MDOs are charged with making their funds available to their local rural micro-entrepreneurs. MDOs must also manage the administration of the grants and loans to the micro-entrepreneurs, and do the required reporting back to USDA.

Who are Micro-Entrepreneurs?

These are the intended users of the USDA funds. While it is true that the USDA first disburses the initial funding to MDOs for their expertise in supporting micro-entrepreneurs in their local areas, the MDOs must then make those funds available to qualified micro-entrepreneurs. According to the USDA, a micro-entrepreneur is a business that is located in a rural community, with less than 10 full-time employees. If you are curious to see if your business is in eligible rural area, check here.

What type of funding does RMAP provide?

The RMAP provides aid in the form of both grants and loans. In regard to grants, the program allows both micro-entrepreneurs and MDOs to receive aid for technical assistance. However, a minimum of 15 percent of the requested aid must have matching funds from the applicant.

The loans provided by the RMAP program for micro-entrepreneurs have a few specific restrictions according to USDA. The loans can be up to $50,000, they must have a fixed interest rate, and the loans are limited to 75 percent of the total project cost.

What can the funding be used for?

USDA lists four specific examples, but goes on to explain that funding for micro-entrepreneurs is not limited to these categories. The listed examples are: working capital, debt refinancing, purchasing of equipment and supplies, and improvements to real estate. Allocating sufficient capital for these types of projects are huge obstacles for many entrepreneurs for which the program has made funding available.

When can you apply for the RMAP Program?

Right now! USDA is currently accepting applications. Reach out to your local USDA office for more information on how to apply.

Other USDA Programs Available

The Rural Micro-Entrepreneur Assistance Program is just one of the many programs that USDA has that is looking to invest in American businesses. From assisting with broadband access to investing in renewable energy sources, the USDA has a robust portfolio of resources available to businesses. For a more detailed list, look here.

Still have questions?

USDA has a great reputation for being responsive to the needs of local communities. Please do not hesitate to reach out to your local USDA office any time. You can reach out to your state USDA Office and ask a program specialist who can assist you. To locate your local USDA Office, click here. To go directly to the USDA page for the RMAP Program and get all the details here.

*This post was authored February 6, 2019.

Zachary is a 2nd year law student at the Dickinson School of Law. Where he is an active student leader, actively cultivating relationships with outside resources to give opportunities to his classmates. He is passionate about using his experiences in both the private and public sector to find innovative solutions for the world’s agricultural, energy, and environmental needs.

Sources:

Electronic Copy of the Federal Regulations creating the Program: https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=e3aa598058a8b3fdb184d9b72e7b8101&n=pt7.15.4280&r=PART&ty=HTML#sp7.15.4280.d
Rural Development Fact Sheet on RMAP Progam: https://www.rd.usda.gov/files/RD-FactSheet-RBS-RMAP.pdf
List of Services and Programs for Businesses at USDA: https://www.rd.usda.gov/programs-services/programs-services-businesses
USDA Website Page on the Rural Micro-Entrepreneur Assistance Program:https://www.rd.usda.gov/programs-services/rural-microentrepreneur-assistance-program

Photo Sources:

The Health Care Entrepreneur’s Quick Guide to Important Laws: Part 2

By: Anahita Anvari

Health Care Entrepreneurs need to know about the False Claims Act, Qui Tam Provisions and HIPAA. At a recent event, “Health Law 101: Key Legal Issues for Health Care Companies,” speakers identified the top five legal and regulatory issues for health care entrepreneurs to be aware of: The Anti-Kickback Statute, Stark Law, False Claims Act, Qui Tam Provisions, and HIPAA.

This post aims to provide a general overview of the latter three laws: False Claims Act, Qui Tam Provisions, and HIPAA. The Anti-Kickback Statute and Stark Law were addressed in Part 1 of this two-part post.

WHAT ARE THE FALSE CLAIMS ACT (FCA) AND QUI TAM PROVISIONS, AND WHAT DO THEY MEAN FOR ME?

The FCA protects the federal government from paying false or fraudulent claims. You should take steps to comply with the FCA if your business serves patients of government health care programs such as Medicare or Medicaid.

A claim, defined generally, is a request or demand for money or property from the government. Under the FCA, it is illegal to submit claims for payment to the government that you know or should know are false or fraudulent. The FCA also imposes liability when one acts to inappropriately avoid paying money to the government or conspires to violate the FCA. Therefore, you should not submit a claim for payment if, for example, the claim reflects a service that was not truly performed, the bill price is higher than the true price, or the claim incorrectly lists the provider who performed the services. There are no exceptions to this rule.

a. How Are FCA Violations Filed and What Are the Consequences?

Lawsuits for FCA violations may be filed by private citizens (also known as “Relators”) on behalf of the federal government. These lawsuits are permitted under the Qui Tam provisions of the FCA. Relators may receive statut ory rewards for filing these lawsuits.

FCA liability may result in a civil monetary penalty for each false claim. Because each false claim is its own penalty, these fines can be detrimental. For example, the Office of Inspector General recently settled a case with a Connecticut provider for violating the FCA. The provider had billed Medicare for procedures that were already included in another billed item, essentially double-billing the government. The settlement was for $792,076.76.

B. How Can I Comply with the FCA?

You should take appropriate steps to comply with FCA by maintaining and implementing an effective compliance program. The seven essential elements to create an effective compliance program are detailed in Part 1 of this post.

Be aware that some states have their own false claims acts. These state laws may differ from the federal law. You should consult with an attorney regarding the laws in your state.

WHAT IS HIPAA AND WHAT DOES IT MEAN FOR ME?

The Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) is a federal regulation that governs the privacy and security of protected health information. Protected health information (PHI) is individually identifiable health information in any form (electronic, paper, or verbal) that relates to an individual’s physical or mental health condition, or to the provision and payment of health care to the individual. HIPAA protects PHI when it is transmitted by a covered entity or its business associate. Therefore, your business must comply with HIPAA if it qualifies as a covered entity or business associate. Click here to determine if your business qualifies as a covered entity or a business associate.

A. Are There Exceptions to HIPAA?

There are some limited exceptions to HIPAA. Covered entities may use or disclose PHI without authorization for treatment, payment, and healthcare operations, such as utilization review and credentialing. Other examples include judicial and administrative proceedings, research, or public health emergencies. You should consult with an attorney or compliance professional to be sure the use or disclosure falls within an exception.

B. I Am a Covered Entity or a Business Associate…Now What?

A covered entity or business associate must comply with HIPAA. You should be familiar with the major HIPAA rules and take measures to comply with them:

The Privacy Rule establishes criteria for protecting PHI, gives patients certain rights to their health information, and permits use and disclosure of PHI under specific circumstances.
The Security Rule requires covered entities and business associates to develop and implement safeguards to protect the confidentiality, integrity, and availability of electronic PHI.
The Breach Notification Rule sets forth notification requirements should a breach of unsecured PHI occur.
The Enforcement Rule outlines the procedures for investigating potential HIPAA violations and imposing liability.

C. What Are Examples and Consequences of HIPAA Violations?

Generally, HIPAA requires you to protect PHI from unauthorized access, use, or disclosure. Examples of violations include lost or stolen devices that contain PHI, posting PHI on social media, or an employee disclosing PHI to friends or coworkers.

HIPAA violations may result in civil monetary penalties (CMPs), criminal penalties, or mandatory exclusions from participating in Medicare. CMPs range from $100 per violation to $50,000 per violation, depending on the severity. Criminal penalties can result in jail time from one to ten years. For example, a hospital in Texas agreed to a $2.4 million settlement for violating HIPAA after it released the name of a patient to multiple media outlets in a press release.

D. How Do I Comply with HIPAA?

You should comply with HIPAA by implementing safeguards to protect PHI from unauthorized use and disclosure. Examples of safeguards include proper training of employees, use of encryption and decryption of electronic messages, conducting audits, keeping inventory of hardware and electronic devices, conducting periodic risk assessments, reviewing Business Associate Agreements, reporting any security incidents, and consulting with an attorney.

This post was authored February 4, 2019 and reproduced with the author’s consent from here.

Anahita Anvari, at the time of this post, is a second-year law student at Penn State’s Dickinson Law. She is from Southern California and is interested in health care law. Anahita founded the Health Law and Policy Society and is currently serving as an Associate Editor of the Dickinson Law Review.

Sources:

For a complete list of sources, see original post here.
https://www.justice.gov/sites/default/files/civil/legacy/2011/04/22/C-FRAUDS_FCA_Primer.pdf
https://www.hhs.gov/hipaa/for-professionals/faq/covered-entities/index.html
https://www.hhs.gov/hipaa/for-professionals/privacy/guidance/business-associates/index.html
https://hipaaqsportal.hhs.gov/a/index
https://www.cms.gov/Outreach-and-Education/Medicare-Learning-Network-MLN/MLNProducts/Downloads/HIPAAPrivacyandSecurity.pdf
https://sites.psu.edu/entrepreneurshiplaw/2018/11/05/health-care-entrepreneurs-guide-to-important-laws/
https://www.govinfo.gov/app/details/USCODE-2010-title31/USCODE-2010-title31-subtitleIII-chap37-subchapIII-sec3729
https://www.law.cornell.edu/uscode/text/31/3730
https://www.hipaajournal.com/what-are-the-penalties-for-hipaa-violations-7096/
https://www.hipaajournal.com/hipaa-compliance-checklist/

Photo Sources:

http://fcpablog.squarespace.com/blog/2014/11/6/the-false-claims-act-a-primer-for-whistleblowers.html
http://www.vhha.com/programs/event/webinar-hipaa-and-new-technologies-using-texting-and-social-media-within-the-rules/
https://blog.v-comply.com/compliance-healthcare-industry/

Data Security Update: What Businesses Need to Know About a Growing Trend

By: Ian Brinkman

The most recent EU General Data Protection Regulation (“GDPR”) penalty assessed against Google provides a reminder to all businesses that the data protection landscape is changing, fast.^[1] Not only can data protection regulations cross international borders, but similar schemes are popping up in the United States at the state level. Furthermore, data protection requirements no longer just apply to a business’s customers’ data. The Pennsylvania Supreme Court made this fact known in its most recent decision requiring employers to protect their employees’ data as well.

State Mirrors the Global Model: California Copies Europe

In mid-2018, California enacted AB 375, the California Consumer Privacy Act of 2018 (“CCPA”).^[2] This new, sweeping data privacy law will take effect January 1, 2020. Just like with the GDPR, businesses need to start thinking about the steps that need to be taken to be in compliance with the CCPA. The CCPA has similar tenets as the GDPR, but its finer points differ to benefit both businesses and consumers.

What is the CCPA?

The California Legislature enacted the CCPA in response to the rampant political and commercial misuse of consumers’ personal data. Like the GDPR, the CCPA provides consumers the right:

(1) to know what information is being collected, (2) to know whether their information is sold or disclosed, (3) to opt out of sale or disclosure, (4) to access their information, (5) to non-discrimination on price and service for exercising their privacy rights.^[3]

Businesses must implement policies and procedures to make sure customers may reasonably exercise these rights. The CCPA extends a private cause of action to consumers, providing them with the option of either statutory damages ($100-$750) or actual damages, whichever is greater, for each violation. Furthermore, the California Attorney General can levy fines from $2,500-$7,500 for each violation.^[4]

What are the differences between the CCPA and the GDPR?

https://threatpost.com/chilis-doesnt-leave-data-breach-on-the-back-burner/131955/

While the general contours of the CCPA may appear to heavily favor consumers, the law is balanced in its application. First, unlike the GDPR (see more on the GDPR here), only personal data of California residents in California fall under the new law. Thus, businesses servicing only out-of-state travelers do not need to worry about complying with the law. The CCPA is also less broad in application in that only certain businesses need to comply, those that:

(1) earn $25 million in revenue; (2) sell or share, for profit, personal information of 50,000 consumers, households, or devices; or (3) derive 50 percent of revenue from selling personal information.^[5]

There is more good news for businesses. The private cause of action is only triggered upon an unauthorized data breach. Also, statutory damages are unavailable if the business cures its violation within 30 days after it receives notice.^[6]Finally, the California Attorney General has yet to release the mandated regulations that the law requires, which may offer further clarification and amendment on some of the law’s more burdensome provisions.

Right Here at Home Too: Pennsylvania Supreme Court Brings Employees’ Data into the Foray in Dittman v. UPMC.

On November 21, 2018, the Pennsylvania Supreme Court left its own mark on the cybersecurity landscape affecting businesses. Before November 21, two things were true: (1) an employer owed no special duty regarding employees’ data, and (2) employees needed to show more than a mere economic loss, from the misuse of their data, to recover damages from their employer.

However, the Supreme Court of Pennsylvania recently made it clear that employers have an independent legal duty to use reasonable care to protect employees’ data that are stored electronically and accessible via the internet. ^[7] Furthermore, if an employee can show the employer breached its legal duty, rather than an action based on a contractual relationship, he or she can sue for purely economic damages.^[8]

Dittman v. UPMC also sets forth a nightmare scenario for an employer. The employees, as a condition of their employment, were required to provide their Pittsburgh based medical employer with certain data. When 62,000 employees’ data was stolen in a breach, and then used to file fraudulent tax returns, those employees commenced a class action lawsuit against their employer. In addition, the court held that the duty extended to former employees, along with those currently on the payroll.^[9]

Taking Action and What is Ahead

Once new entrepreneurs have concluded that their companies need to comply with the growing regime of data protection laws, they can be proactive without risking unnecessary expenditures due to fear-driven over compliance. Most of these laws require, or at least encourage, creating a data protection plan. Part of this planning forces a business to know the extent of the data they collect and what they intend to do with it. Businesses can get a head start by sitting down with their IT department, third-party vendors, and management teams to outline detailed goals, deliverables, and implementation strategies. Once these items are in place, companies can implement other measures new laws might require or ones that the companies find useful. Here is a blog post that elaborates.
Companies can also help themselves by understanding that these types of data protection laws are a sign of a wider trend stemming from governments and regulators trying to get a handle on the interconnectedness between businesses, data, and consumers. What is apparent is that the number, scope, and reach of these laws is only increasing. 2019 will usher in not only new data protection standards, but also new laws affecting businesses that traditionally did not need to worry about the laws outside of their state.

Ian R. Brinkman, at the time of this post, is a third-year law student at Penn State’s Dickinson Law. He is originally from Central Pennsylvania and will start his legal career at Gibbel, Kraybill and Hess in Lancaster, PA as an associate in their Corporate practice group. He also helps coordinate the Volunteer Income Tax Assistance clinic at the law school.

Sources:

^[1]Matt Jeweler, Massive GDPR Fine Is a Wake-Up Call to Get Compliance and Cyber Insurance Squared Away, Pillsbury-Policyholder Pulse Blog (Feb. 5, 2019), https://www.jdsupra.com/legalnews/massive-gdpr-fine-is-a-wake-up-call-to-34398/

^[2]A.B. 375

^[3]A.B. 375, Section 2(i)

^[4]A.B. 375, Section 3, Subsection 1798.150

^[5]A.B. 375, Section 3, Subsection 1798.140

^[6]A.B. 375, Section 3, Subsection 1798.150

^[7]Dittman v. UPMC, 196 A.3d 1036, 1056 (Pa. 2018)

^[8]Id.

^[9]Id. at 1038

Forming an S-Corporation: A Good or Bad Idea?

By: Starlin Colon

If you have been thinking about creating your own business, then you probably have read or heard that setting up a Limited Liability Company (LLC) is the best way to go about it. Although an LLC is generally a good option, forming an S-Corporation (S-Corp) could be a viable option as well, depending on the purpose of your future business. In this post, I will outline some of the benefits and drawbacks of forming an S-Corp as compared to the benefits and drawbacks of forming an LLC or other business entity type.

Formation

The first piece of information to look for when deciding to form a business entity is the initial procedures required to form the entity. For an S-Corp, the entrepreneur is required to file the articles of incorporation with the state. Each state sets out its own form for the articles, so they differ on what exactly is included in them. Generally, the articles include items such as the name of the S-Corp, names of the officers and directors, and the name of the individual incorporating the entity.

For an LLC, the entrepreneur must file the certificate of organization with the state. That certificate is similar to the articles of incorporation of an S-Corp as it identifies the company and the members, along with including optional information the member would like to include.

Liability

One of the main benefits of having either an LLC or an S-Corp is the fact that they both provide limited liability to the members or officers, respectively. Limited liability means that the personal assets of the individuals are generally protected in case the company is sued or goes bankrupt. The peace of mind of not having their personal assets at risk is extremely valuable to most entrepreneurs, and it most likely is to you as well.

Limited liability is not absolute, however, and could be lost in two main scenarios. First, an owner of a business may face personal liability through piercing the corporate veil. Courts may apply this remedy when the owner commingles the company’s assets with personal assets. This concept is true for both S-Corps and LLCs. Second, limited liability does not protect an individual from torts committed by that individual. This means that if you own either an S-Corp or an LLC, you will be personally liable for any torts you commit.

Taxation

There are several aspects of taxation that make S-Corps and LLCs very popular. First, both types of companies have pass-through taxation. Pass-through taxation means that the entity itself is not taxed. The profits or losses are passed to the owner and filed with the owner’s personal income tax return. This is a great advantage over other entity types since it prevents double taxation on the income where the company is taxed then the owners are taxed separately.

Self-Employment Tax. The self-employment tax is one big difference in taxation between the S-Corp and the LLC. This tax is the tax that owners of companies must pay for Social Security and Medicare. The current self-employment tax rate is 15.3%. This means that if you own an LLC, you will pay 15.3% of your income to the IRS in self-employment tax. In an S-Corp, the company would pay half (7.65%) and you would pay the other half. Although this may seem like the same amount, since you own the company, the advantage is that an S-Corp does not have to pay all of its profits to its employees in wages. The S-Corp is allowed to give distributions. Consider the following example:

You make a $200,000 profit. As a member of an LLC, 15.3% is paid as self-employment tax, which equals to $30,600. As an S-Corp, you could be paid a reasonable salary of $160,000, with the remaining $40,000 being given as a distribution not subject to self-employment tax. In this case, the company and you would each pay $12,240, for a total of $24,480. This is a tax savings of $6,120.

The self-employment tax benefit is probably the most common reason why a person would decide to form an S-Corp over an LLC.

Ownership

One drawback of forming an S-Corp over an LLC is that the IRS sets restrictions in the ownership and formation of an S-Corp. According to the IRS, an S-Corp:

- - must be domestic;
  - cannot have more than one-hundred (100) shareholders;
  - can only issue shares to individuals, not businesses;
  - must have only one class of stock; and
  - will have any subsidiaries added to the assets of the S-Corp.

These restrictions are very different than LLCs and other business entities. LLCs can have members from anywhere in the world. There is no cap on the number of members, businesses can be members, and there are no restrictions on subsidiaries. If the IRS restrictions are not problematic for your business model, then it may be beneficial to form an S-Corp for the tax benefits.

Conclusion

If you are planning to start a company, think about the purpose of your company in order to better identify which entity would be the most beneficial to form. S-Corps and LLCs are very similar but have some big differences in the self-employment tax amount and the ownership restrictions. It is important to know the distinctions between types of entities in order to make an informed decision and prepare yourself for success.

*This post was checked for currency on February 9, 2019 and reproduced with permission by author Starlin Colon. Original post can be found here.

Starlin Colon, at the time of this post, is a third year law student from Penn State’s Dickinson Law. Originally from the Dominican Republic, he plans to take the bar exam in Pennsylvania. A Penn State grad, he is interested in business transactional law.

References & Photo Sources

https://www.irs.gov/businesses/small-businesses-self-employed/self-employment-tax-social-security-and-medicare-taxes

http://uscode.house.gov/view.xhtml?req=(title:26%20section:1361%20edition:prelim)

https://www.corporatedirect.com/start-a-business/entity-types/s-corporation/

http://www.mainesbdc.org/llc-vs-scorp/

Trisha Cowart | Entrepreneur of the Month | February 2019

By: Sarah Phillips

I have the great honor to introduce to you Trisha Cowart, our February 2019 Entrepreneur of the Month. Trisha is a co-founder of the innovative law firm Cowart Dizzia LLP. This cloud-based, multi-jurisdictional, all female law firm focuses on providing dynamic solutions in the field of regulatory healthcare counseling for a wide variety of clients. The firm provides healthcare facilities with educational trainings, collaborates with agencies and caseworkers to resolve healthcare eligibility issues, and enforces facilities’ rights under Medicaid laws.

Trisha received her B.A. from the Pennsylvania State University, then graduated from Penn State University’s Dickinson School of Law, and shortly after graduating, began working as a Clinical Professor at the law school’s Elder Law and Consumer Protection Clinic. Before starting Cowart Dizzia LLP, she was a partner at a national law firm, where she focused her practice on Medicaid eligibility, civil litigation, and Medicaid regulatory issues. Trisha was kind enough to sit down and share her business and entrepreneurship story with us.

Elements for Success

“The first element of success is finding the right and trusted business partner.”

What does Trisha credit for the success of her law firm? That’s easy. Trisha says that the key to the law firm’s success has been the strong and balanced relationship between herself and co-founder of Cowart Dizzia LLP, Gina Dizzia. For Trisha, operating a great business is all about finding the right people to go into business with. Trisha recommends that picking your business partner be a slow and deliberate process; it is important to find a partner with complementary skills, but also a partner who has different strengths and can excel in different areas.

Creating the right company culture is also crucial to developing a business that people want to be part of. For Trisha and her business partner, this means fostering a work environment where the attorneys are enjoying their work and happy in their personal lives. Allowing the firm’s attorneys to telecommute is unique, but for Cowart Dizzia LLP, it’s what makes them successful.

As our conversation continued, it seemed clear that a big element of Trisha’s success as an innovative entrepreneur is that the law firm she and her business partner created has allowed Trisha to pursue a career she is passionate about. Trisha has devoted countless hours to developing meaningful client relationships and putting in the extra time and care to make sure the business flourished in its early stages-all because she was passionate about the work, her clients, the law firm and truly believed in the mission.

Developing strong relationships with clients is also fundamental to your business’ success. Click here for more on why forming long lasting relationships with your clients matters according to Trisha.

Entrepreneurial Risk

“You have to think about taking a risk, but you also need it to be a well thought out and calculated risk.”

Inherent to being an entrepreneur is taking risk, but Trisha explained that successful entrepreneurs will take calculated risks. For her, that meant taking a risk and leaving her old firm, but doing enough planning ahead of time to set herself up for success.

Part of that planning involved identifying her market, and also determining if there was room for her growing business in that market. Without growth potential, it can be hard to carve out and sustain a place in the marketplace.

Trisha also strongly believes that entrepreneurs can plan for success by finding ways to utilize each team members’ unique strengths. Hear more from Trisha about the value of risk taking and effective management.

Lessons Learned

“Our clients’ needs have changed, and you have to adapt and grow with those needs.”

If there was one theme that kept coming into our conversation, it was the importance of accepting that change is an inherent part of running a business. If you can be ready to adapt as your clients’ needs shift, you will be able to better meet those needs or fill that opening in the market. Part of this is also understanding that how your business starts may not be the way it ends, and that can be a good thing if it means that you are changing in a positive direction.

Trisha also learned quickly the value in seeking advice from others, especially in the early stages of starting her business. Trisha and her business partner consulted with an attorney and an accountant to make sure that they took all the necessary steps to establish their law firm correctly. By consulting with experts, they felt more confident in the potential success of their entrepreneurial endeavor.

Learning to adapt best management practices can also play an integral role in the long-term success of your business. Hear Trisha explain why this is important.

Advice for Today’s Entrepreneurs

“Keep your costs in-check.”

Finding and using innovative methods to lower costs, especially in the early phases, can be extremely helpful when starting your business. Trisha’s law firm uses cloud-based platforms, shared works spaces and a website creation platform to limit costs where possible. This has allowed them to focus on growing in their market niche and establishing themselves as the leader in their field. Trisha explained that after you’ve solidified your identity and experienced financial success, then you can reinvest for expanding or adding on “extras” to your business.

For more creative ways about how to limit costs, click here.

Advice for Today’s Law Student

“Your cover letter is your first chance to make a great impression.”

Being open to learning about different areas of the law is important as a law student. Trisha found her passion by accepting an internship opportunity at the school’s Elder Law Clinic. Law school, and your early career, should be focused on finding what makes you happy and discovering which area of the law you can be passionate about. Taking advantage of every new experience that comes along is just one way Trisha hopes current law students will continue to challenge themselves as they work through law school.

Trisha also strongly encourages all law students to learn the value of a personal and well-planned cover letter. The cover letters should reflect interest in the position and should demonstrate that your experiences match well with the firm or business. A cover letter that simply copies and pastes pieces from older versions will not make you stand out, and chances are it will not reflect your best qualities.

Being open to learning about different areas of the law is also important as a law student. Trisha found her passion by accepting an internship opportunity at the school’s Elder Law Clinic.

Hear Trisha explain why taking advantage of new experiences is valuable.

Videos containing Trisha Cowart’s great insights can be viewed through links in the above article.

This post was authored on February 2, 2019.

Sarah Phillips, at the time of this blog post, is a second year law student at Penn State’s Dickinson Law. She is from West Amwell, New Jersey and has interests in agricultural, land use and business transactional law. She is currently serving as a Honor Code Representative and a Law Lion Ambassador.

Photo source: https://www.businessknowhow.com/money/bizexpenses.htm