When starting a new business, several key decisions must be made regarding the organization, financing, management, and operation of the business. First, you should do your homework – research your business idea and prepare a business plan.
Once you’ve decided to go ahead with your idea, you will need to determine the legal structure of your business (whether a sole proprietorship, partnership, LLC, corporation, non-profit, or a cooperative) and obtain financing for the start-up costs. After your business is formed, it must be registered with your state or local government – typically through filing a fictitious business name, or “Doing Business As,” statement – and obtain any permits and licenses required by your city or county.
Certain industries require additional permits, such as a seller’s permit, or a license to sell alcohol. Finally, businesses must register for state and local taxes, typically including obtaining a tax identification number from the IRS.
Upon formation of the business, then it is usually recommended the business establish policies and procedures for employment, operations, recordkeeping, and other important matters.
The Green Law Group is skilled at navigating the business world and provides superior legal representation to its corporate clients regarding every stage of their business, whether it be from their initial formation and financing to the dissolution of the business. We can assist small businesses and entrepreneurs with the initial start-up phase of their businesses, such as, entity formation, licensing, and the construction and negotiation of various types of contracts. We also provide general counsel services to start up and established businesses with all matters relating to the operation of their businesses, such as, equity and debt financing, protection and commercial exploitation of intellectual property and technology assets, negotiation of business contracts, and planning for succession and exit.