STARTUP LEGAL 101. THE 8 STEP START LEGAL CONSIDERATIONS WORKSHOP INCLUDES: Overview of how to start a company. Examples of legal documents/usage. Where.

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Presentation transcript:

STARTUP LEGAL 101

THE 8 STEP START LEGAL CONSIDERATIONS WORKSHOP INCLUDES: Overview of how to start a company. Examples of legal documents/usage. Where to go for more information.

Name Your Company Everything starts with the name. But before you start ordering business cards or creating a Facebook page, make sure that great new name isn't infringing on the rights of an already existing business. ACTION: Online search for business names registered with the secretary of state

Register Your DBAs If you have a sole proprietorship/general partnership, a DBA registration must be filed when your company name is different than your own name.

Incorporate or Form an LLC You'll need to determine the best business structure for your startup. You might choose among: -LLC : great for startups that want legal protection, but minimal formality - S Corporation: great for startups that will make a profit soon after incorporation and that profit will be distributed to the shareholders -C Corporation: great for those startups who plan to reinvest profits back into the company or seek funding from a VC

Create Your Operating Agreement Sometimes deciding WHO owns WHAT can be a difficult challenge. You will need to decide who is listed as a SHAREHOLDER and their RIGHTS.

Get a Federal Tax ID Number // Employer Identification Number [EIN] To distinguish your startup as a separate legal entity, you'll need to get a Tax Identification Number, referred to as an Employer Identification Number. This is issued by the federal government.

File for Trademark Protection You should take steps to protect your company name by filing for a trademark. Other Kinds of Protection: - Patents - Copyrights - Trade Secret - Confidentiality and Non-Competition

Educate Yourself on Employee Topics Understand your obligations in areas of: -Federal and state payroll // Taxes -Intellectual Property -Anti-discrimination laws -OSHA regulations -Unemployment insurance -Workers' compensation rules

Obtain Business Licenses and Permits Depending on the type of business, you may be required to have one or more business licenses and/or permits from the state, local (city and county) or even federal level. CONSIDER: Does your business require insurance?