If you are a business entrepreneur, it is safe to assume you know starting a business or corporation is stressful, entailing a wide array of legal matters that need to be addressed and maintained from the start. Despite all of the hard work that goes into forming a corporation or business from the bottom up, if done correctly, corporate business legal structures provide the most protection from personal liability, a greater ability to raise funds, and many other advantages.
At Heritage Law, LLP, we strive to offer our clients a full range of experienced legal counsel on everything from:
- Employment contracts and personnel policies
- Trade secrets, data confidentiality and other information management problems
- Contract review and documentation for transactions with vendors and customers
- Commercial leasing
To help you get started on the right path in the process of forming your own business or corporation, here are some of the must know tips:
Decide On The Right Business Name:
When creating the name of your business, keep in mind that your state may require its name to include “Incorporated”, “Limited”, or “Corporation.”
Always be sure to be well researched on what your state will require from you from the inception of your business so you will be prepared to handle certain situations when they may arise.
By knowing what names are available before claiming your own, you will save yourself from a future headache.
Know Where To Incorporate Your Business:
Did you know that many businesses and corporations have chosen to incorporate their business in a different state from where the business was founded or operates? There are many advantages to this tactic, so be sure to do your research before making critical decisions such as this.
Draft Appropriate Bylaws For Your Company:
Bylaws outline the responsibilities of your corporation’s officers, directors, and shareholders. Use careful consideration when drafting these articles, as they will specify important information that is necessary for your team to understand what they will be contributing to your business.
Consult With An Attorney:
The most important step in ensuring your business is set up for success from the very beginning is to consult with the right attorney to ensure your business is adhering to your state’s legal requirements and all steps of the incorporation process.
For more information on how Heritage Law, LLP can set you on the correct path to success when starting your own business, contact us, here.