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Re: what does a Principle make

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Ownership.  The ability to make decisions that affect the direction of the
company, with ultimate responsibility for the success or failure of the
firm.


Paul Feather PE, SE
pfeather(--nospam--at)SE-Solutions.net
www.SE-Solutions.net
----- Original Message ----- 
From: "Rand Holtham, P.E." <rand(--nospam--at)sigmaengineers.com>
To: <seaint(--nospam--at)seaint.org>
Sent: Thursday, June 10, 2004 7:41 AM
Subject: what does a Principle make


> How do others define "Principal Engineer" ?
>
> Rand
>
>
> ----- Original Message ----- 
> From: "Scott Maxwell" <smaxwell(--nospam--at)engin.umich.edu>
> To: <seaint(--nospam--at)seaint.org>
> Sent: Tuesday, June 08, 2004 7:55 PM
> Subject: Re: Legal and liability - using my stamp
>
>
> > Mark:
> >
> > Others have offered good things to think about...both those from smaller
> > firms (i.e. sole practitioners) and larger firms (see Stan's comments).
> >
> > I would say that Stan and Jason offered some good comments from a larger
> > firm perspective.
> >
> > Some other things to keep in mind...
> >
> > 1) E&O insurance does absolutely NOTHING for your license.  As some have
> > hinted at, it will only protect your financial "tushie".  There is
NOTHING
> > to protect your license except doing good engineering.  And, if you lose
> > your license, then you have problems with ALL states, as they are DARN
> > good about transmitting and "trusting" board enforcement actions, but
have
> > trouble transmitting and/or "trusting" reference/job/school verification
> > for the purposes of getting a license by reciprosity (i.e. you fillout
the
> > same forms 50 times if you want to be licensed in every state...unless
you
> > do the NCEES records program).
> >
> > 2) I think think that Stan overstated the issue of who seals drawings
> > (i.e. responsible charge) just a hair.  While he is basically on point,
it
> > is important to realize that each state can have slightly different
> > requirement/rules in this area.  I think Bill Sherman is a little closer
> > on target.  You need to be aware of what each state that you are
licensed
> > in requires.  Some are rather lax (or non-specific), while others are
very
> > strict and specific.
> >
> > 3) If you are officially sealing on behalf of the company (i.e. the
> > company offers professional services that you are providing as a company
> > employee), then many states have additional rules about how the company
> > needs to be setup (i.e. ownership).  I believe a couple people have
> > mentioned this.  This has two main impacts...first, more fees (for the
> > company)...but also, many states require a certain number of the
> > owners/principles be licensed.  To my understanding, New York require
ALL
> > owners of the company to be licensed.  Michigan requires 2/3 of the
> > principles to be licensed (but carefully review how they define
> > principles...not necessarily owners, but could be non-owning company
> > officers).  To me, the intent of this provision is that engineering
> > decisions cannot (should not) be overridden by non-licensed individuals
> > due to financial reason rather than engineering reasons.
> >
> > HTH,
> >
> > Scott
> > Adrian, MI
> >
> > On Tue, 8 Jun 2004 Markajohn(--nospam--at)cs.com wrote:
> >
> > > Thanks to all who responded.  Very educational.
> > >
> > > So far, several people have said that insurance is of questionable use
> and
> > > may even be a bad idea.  There is also the discussion about who should
> stamp
> > > what. Also, there is risk, including lifetime liability and "prior
acts"
> > > liability.  If the risk is not dealt with by insurance, or even if it
> is, it should be
> > > compensated for with a decent salary, partial ownership, etc.
> > >
> > > Now I have some things to talk to my firm about.  What a great list.
> > >
> > > Thanks All,
> > > Mark Johnson
> > >
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