Form a Company

Post image for Annual Corporate Housekeeping

Happy New Year. With the new year comes the sweeping out of the old, which is where your corporate housekeeping comes into play. Many entrepreneurs think their legal work is done once they’ve incorporated or formed a limited liability company. Not so. Most states’ statutes require you to compile a written record of your major […]

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“Life is trouble; only death is not,” comments Zorba the Greek in the novel by Nikos Katzanzakis. I’ve heard many a business owner brag about the lack of complication that their sole proprietor status affords them. No messy ownership agreements, no separate filings or taxes, complete freedom and flexibility to do what you want when […]

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Yes, they’re cumbersome, but don’t ignore the corporate formalities if you don’t want creditors poking into your personal assets. Congratulations! You’ve taken the important step of protecting your personal assets by forming a corporation or limited liability company. But just as giving birth is only the beginning of your responsibilities of caring for a baby, […]

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Every year, many business owners choose to incorporate their companies. They may make this decision at the outset, or may arrive at it later because their business is growing and they want to shield themselves from the risks that growing businesses face. Either way, the business owners want to limit the extent to which their […]

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At some point in their business planning, most entrepreneurs wonder: “How can I protect myself if things go awry?” Even if they have few personal assets, they may want to avoid the possibility of seeing their name in the caption of a lawsuit, for how can you concentrate on business with that looming over your […]

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You’ve felt that glimmer of the Divine impulse – that insistent idea whispering in your ear saying: “start a business . . . start a business . . . .” You have experience in your field. You’ve done your homework on determining the right clients for you, where you’d want to locate the business, who […]

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Post image for How "Piercing the Corporate Veil" Pierces Your Pocketbook

Have you ever felt “forced” to do something you really don’t want to do? Attending a family function for your in-laws, contributing to a particular charity you don’t care about for a colleague, sitting through Wagner’s Ring Cycle (or a WWE wrestling match) for your significant other–all come to mind. Now imagine if you had […]

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Two (or more) people want to go into business together.  They’re holding hands (metaphorically speaking), ready to skip lightly down the path of shared entrepreneurship, when a legal questions arises:  what form of business should we choose? The short and obvious answer it:  it depends.  And the decision is a crucial one that should involve […]

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Post image for Why You Need to Form a Business Entity

Protect your assets by forming a business entity; it’s worth the cost. Some companies can cover many of their potential business risks with insurance, but in my opinion, if you’re going into business you should form a separate entity. The risks to your personal assets and to your business growth far outweigh any advantages of […]

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Post image for Do I Have to Have a Business Name to Do Business?

I had a post from “Explorer,” who is starting a new venture (Congratulations!). Explorer was wondering if it’s OK to do business without a company name at the start, as she hasn’t registered one yet. For anyone else who might have the same question, here’s how I responded: In the U.S., there’€™s generally no requirement […]

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