ii THE ADA PRACTICAL GUIDE TO ASSOCIATESHIPS Acknowledgements The American Dental Association’s Department of Product Development and Sales and the ADA Council on Dental Practice developed this publication. The Council on Dental Practice wishes to thank Randall Berning and Paul Baumann for their efforts in revising this publication. Principal ADA contributors to this manuscript were Kathryn Pulkrabek, Manager/Editor, Professional Products, Department of Product Development and Sales, and Carolyn Tatar, MBA, Senior Manager, Department of Product Development and Sales. Randall K. Berning, JD, LLM, president of Berning & Affiliates, is a health care attorney and nationally recognized as an expert consultant in dental practice transitions. For over 30 years, he has provided dentists and dental specialists with specific practice plans to implement vision, practice profitability, valuation and associateships, partnerships, and sales. He is past Adjunct Professor of Dental Jurisprudence and Director of Practice Administration at the University of Illinois at Chicago College of Dentistry and past adjunct faculty at University of California San Francisco School of Dentistry and the University of Maryland, Baltimore, College of Dental Surgery. He can be reached at 1.800.999.8121 or RKBerning@BerningAffiliates.com or through the firm’s website, www.BerningAffiliates.com. Paul A. Baumann, CPA, ABV, CFF, ASA, is a Certified Public Accountant (CPA) in the state of Florida, and a member of the American Institute of Certified Public Accountants (AICPA). He has over 20 years of experience providing testimony, and is recognized as an expert in the field of business and professional practice valuations. He is a principal in the Baumann Moreau Consulting Group located in Tampa, Florida. He can be reached at 813.830.6530 or through the firm’s website, www.baumannmoreau.com. The Council on Dental Practice and American Dental Association wishes to acknowledge the contribution to this publication over the course of five previous revisions made by Larry R. Domer, MBA, DBA, AVA. Dr. Domer’s in- depth knowledge of the dental profession contributed to the publication’s success. He continues to be a nationally recognized expert in dental practice valuation and transition. He is currently Professor Emeritus at the University of Colorado School of Dentistry and is co-owner of Domer Valuation & Consulting, a Denver-based firm that provides valuation services exclusively to the dental profession. In addition to having Masters and Doctorate degrees in Business Administration, he holds the designation of Accredited Valuation Analyst from the National Association of Certified Valuation Analysts and is a member of the Institute of Business Appraisers. Questions concerning this book can be directed to Dr. Domer at larry@domervaluation.com or 720.936.7325. The Council on Dental Practice Mission Statement The mission of the Council on Dental Practice is to recommend policies and provide resources to empower our members to continue development of the dental practice, and to enhance their personal and professional lives for the betterment of the dental team and the patients they serve. Legal Disclaimer This publication of the American Dental Association is offered as information only and not as financial, accounting, legal or other professional advice. Persons reviewing this material need to consult with their own personal advisors for such advice. The issues identified for consideration may or may not be important to your personal decisions. The examples used in the publication should not be directly applied to any particular dental office. To the extent that this publication contains links to any websites created and controlled by third parties, these links are provided for your convenience. The ADA intends no endorsement of their content and implies no affiliation with the organizations that provide the content. Nor does the ADA make any representations or warranties about the information provided on those sites.