The Corporate Decisions That Must be Documented
Corporation owners are required to maintain corporate records, including documenting major corporate decisions, as well as hold meetings of shareholders and Board of Directors. If these formalities are neglected and the company has legal problems, shareholders could be held personally liable for corporate liabilities if a court finds the proper formalities were not followed and […]
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Top 5 Misconceptions About Business Incorporation
If you are in the process of starting a new business, deciding on whether or not to incorporate that business can have long-term consequences when it comes to taxation and personal liability protection. This is why it is important to separate myth from fact about business incorporation; here are five common misconceptions: Incorporation allows businesses […]
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Factors in Choosing a C Corporation Over an LLC
The decision on how to incorporate a new business is one of the most crucial any business owner will ever make. To make the right choice, a business owner needs to consider his or her goals — business, personal, and financial — as well as future interests. Generally, business owners who choose an LLC structure […]
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How to Maintain Your LLC’s Liability Protection
Most business owners choose to incorporate their companies as limited liability companies (LLCs) to ensure that in the event of business bankruptcy or indebtedness, their personal assets will not be at risk. An LLC provides this kind of personal protection, unless that protection is lost through one of these five common factors: Wrongdoing or fraud. […]
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How to Avoid the Top 10 Mistakes Entrepreneurs Make
If you’ve never done it before, starting up a new business venture can bring on many sleepless nights worrying if you are doing things right and — sometimes even more importantly — if you’re doing something wrong. Making missteps is bound to happen in any business; you just want to be sure that those you […]
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Top 10 Legal Guidelines for Entrepreneurs
Whether you’re a Baby Boomer launching a second career or a Millennial looking to make millions by striking out on your own, there are some basic legal guidelines for entrepreneurs who are considering launching their own businesses. Here are the Top 10: Choose the right business entity. Many entrepreneurs will launch their new ventures as […]
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Key Considerations for Selecting the Right Business Entity
Making the decision on what type of legal entity to operate under as a new (or even existing) business is much more difficult if you don’t understand the legal and tax ramifications of each potential choice. Here are some key considerations you should be making as you examine your options: Tax treatment. Business entities differ in […]
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Ask These 10 Questions Before Choosing a Business Entity
One of the most important decisions you will make as a business owner is the type of legal structure for your company. There are several choices available, and each entity type carries with it varying legal and tax consequences. Business entity choices include: Sole Proprietorship General Partnership Limited Partnership Limited Liability Company Subchapter S Corporation […]
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How to Avoid Legal Snafus That Could Sink Your Startup
While being passionate about your new business may make up for some of what entrepreneurs may be lacking in business experience, passion is no guarantee that your new venture will find success. You need to exercise caution to be sure you don’t make any legal missteps that could sink your startup, including: Lease agreements. Leasing […]
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When Do Startups Need to Hire a Business Lawyer?
It’s highly likely that if you are an entrepreneur, you may have a little “issue” when it comes to controlling everything about your company — in other words, you find it hard to trust others when it comes to your “baby.” But unless you are an experienced business attorney, you probably don’t have the knowledge […]
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