Connecting Neighborhoods to the City’s Economic Growth Start-Up Business Session 3 – Business Start-up, Registration, Structural and Legal Considerations

Business Start Up Basics Naming your company Creating a legal entity Obtaining an EIN Opening a Bank Account Business Governance Insurance Industry Specific registration requirements

Naming Your Company Check for name availability h.asp Does name communicate your brand? Is it confusing with other names? Is it available as trademark? US Patent and Trademark Office – USPTO

Creating a Legal Entity

Business Formality Who Can Be a Shareholder? Income Allocation Pass-Through Losses Class of Stock Reinvesting Profits

EIN and Bank Account Obtaining an EIN Employed/Apply-for-an-Employer-Identification- Number-(EIN)-Online Employed/Apply-for-an-Employer-Identification- Number-(EIN)-Online Opening a Bank Account Corporate organization documents EIN $$

Business Governance LLC Operating Agreement Contracts Documenting activities Receipts and bookkeeping

Insurance General Liability Umbrella (personal) Errors and Omissions Directors and Officers Specialty coverage

Industry Specific registration requirements Permitting Licensing Federal vs State vs Local/County

Questions and Answers