You are ready to start your business venture. Here are a few helpful suggestions. To implement your plans, seeks the guidance of our legal services.
- Limit your liability to your investment in your company by incorporating your business or organizing it as a limited liability company.
- Disclose everything to your attorney about your proposed business venture and past business experiences, both positive and negative.
- Discuss with your attorney the advantages and disadvantages of the various forms of business entities.
- Discuss with your attorney the “corporate formalities” to which you must adhere in order to preserve the limited liability afforded to you by virtue of having incorporated your business.
- Discuss with your attorney the need for a detailed written buy-sell agreement with your business partners.
- Discuss with your attorney the need for a written employee handbook and written employment agreements containing confidentiality and non-competition obligations if necessary.
- Apply for a federal tax identification number for your business.
- Meet with a tax professional and budget for taxes.
- Invest in technology.
- Prepare a detailed written business plan.
- Buy insurance to protect yourself and your business.
- Setting up a business is complicated, and a business law attorney can assist you in making and implementing the right decisions.
Disclaimer: The material herein represents general legal advice. Since the law is continually changing, some provisions may be out of date. It is always best to consult an attorney about your legal rights and responsibilities regarding your particular case.