Q1. Do I Need a Business Lawyer?
No matter how large or how small your organization might be, having a business attorney is the best way to protect yourself and your business, and to reduce potential legal and financial liability. You have the option of waiting until such time that a legal matter arises, and you need to find a lawyer. However, […]
Q2. How do I start my own business?
After you’re done writing your business plan, choosing a name, and choosing your location, you’ll have to work out the technical and legal details for your company. For instance, you’ll need to have a plan for funding your business and choose an ideal legal structure (i.e. LLC, corporation, etc). You’ll also need to file the […]
Q3. What is an LLC?
LLC is short for Limited Liability Company which is a type of legal entity for a business. An LLC offers the owner of this entity certain legal protections against lawsuits such as the separation of business assets from personal assets. In other words, when your company is legally recognized as its own entity, your personal […]
Q4. What is a corporation?
When people hear the term “corporation,” they think of a giant enterprise business in a skyscraper. While these certainly are corporations, small businesses can be corporations as well. Simply put, corporations are a company or group of individuals authorized to act as a single entity.
Q5. Which business entity should I choose?
This will depend on many factors as there are benefits and drawbacks to each legal entity. We’ll list some basic descriptions for each main type of legal entity. Sole Proprietorship – These can be ideal for very small low risk businesses with no plans of growth. Partnership – There are two common kinds of partnerships: […]