Legal Issues to Consider When Funding Your Business
Brad Smith • Feb 04, 2020
When starting your business, there are legal issues to think about. Everything about your business has legal implications
from the name, structure and the operations. There are some legal concerns that you may want to discuss with your attorney before diving in and starting your business.
To begin, you will need to make sure that your business name is not already in use. If you are curious as to how, you may do a name search with your appropriate state agency which is usually the office of the Secretary of State. If the name that you choose for your business is not being used, you can reserve it with the Secretary of State’s office for a period of time while you prepare articles of incorporation, organization, or a partnership agreement.
Your Business Structure
Your business can be structured as a sole-proprietorship, partnership, limited partnership, corporation, S-corporation, or limited liability company. You will need to decide which of these business structures will best suit your business. To decide which is best, you will need to consider liability
issues associated with your business and which form will provide the best tax structure for your business.
Business Licenses
You may need a variety of licenses or permits depending on what type of business that you plan to engage in. You will need at least a business license and tax registration.
Non-Disclosure Agreements
If you are going to finance your business or enter into contracts with suppliers, non-disclosure agreements
should be considered. Since outside firms will have access to business information that you might want to keep private, you should consider having them sign the agreements. The more confidential information your business plan contains, the more important the agreements will be.
Zoning
You need to make sure that your business is properly zoned when considering a location. If there was a previous business, the zoning may have changed while the other business was in operation. If your business is one of the same types as the on that is currently there, the zoning will be appropriate.
Interested in Working With Us?
If you need help with estate planning or any other legal concerns, we are here for you. Don't hesitate to contact our firm directly for assistance. Our dedicated team is ready to provide support and guidance to you and your loved ones during important life transitions.
Whether you're ready to schedule a strategy session to discuss your specific needs or if you're interested in exploring our wide range of complimentary guides and additional resources, we encourage you to get in touch with us.
With licensed attorneys and offices located in both Illinois and Missouri, we are well-equipped to serve clients in these regions. Reach out to us today and let us leverage our expertise and care to guide you through the legal process.
Helpful Guides
Begin your journey by taking advantage of our collection of complimentary guides.
Online Documents
Simple & Convenient, Cost Effective, Attorney Reviewed Documents.
Recent Posts
As we journey through life, one inevitable truth is the process of aging. In the United States, this reality brings about a myriad of legal considerations and challenges, prompting individuals and families to seek guidance in the realm of elder law. From estate planning to long-term care, understanding the intricacies of elder law can greatly ease the burden of navigating the complexities of aging. In this blog, we explore some frequently asked questions about elder law and delve into the landscape of aging in America.
As we journey through life, one inevitable truth is the process of aging. In the United States, this reality brings about a myriad of legal considerations and challenges, prompting individuals and families to seek guidance in the realm of elder law. From estate planning to long-term care, understanding the intricacies of elder law can greatly ease the burden of navigating the complexities of aging. In this blog, we explore some frequently asked questions about elder law and delve into the landscape of aging in America.
Many people overlook the importance of ongoing estate planning, assuming a will or trust is adequate. However, this passive approach can bring costly consequences for both finances and family in the future.
Are you feeling overwhelmed by the complexities of Medicaid in Illinois and Missouri? You're not alone. Many people find themselves in a maze of regulations, paperwork, and confusing terminology when trying to access this vital healthcare program. In this blog post, we'll break down some of the key aspects of Medicaid and discuss why seeking help is essential for ensuring you get the benefits you deserve.
When it comes to estate planning, delaying action can have far-reaching consequences that extend well beyond our lifetimes.
If you don't have a plan in place for your assets, the state will step in to decide how they are distributed. While some may trust the state's judgment, it's important to recognize that it doesn't understand your individual circumstances, and the process can be both time-consuming and expensive.
Click HERE To View April Newsletter
Submit Your Confidential Request
Click the button & fill out the form so we can better understand how we can help.