More and more people are choosing to form a limited liability company (LLC) to act as their business conduit. Let’s talk about whether this is the right choice for you. And it may be. But even if it is, if there are two or more people who will own your business, it’s imperative that you enter into an LLC operating agreement to appropriately addresses issues such as revenue sharing, sweat equity expectations, withdrawals from the LLC, transfers of interests, death and disability.
Let’s make sure that you are in compliance with any non-competition, non-solicitation or non-disclosure agreements that you may have signed with your former employer.
In the US, rights in trademarks and tradenames are generally created by use. And rights can only arise in certain names. I’ll work with you to pick a name that can be protected and doesn’t infringe on the rights of others.
Forms and Agreements
You’re going to need forms to deal with others, including forms of agreements. Let’s develop forms you use will maximize your flexibility and revenue and minimize your risk and liability.
The IRS and Department of Labor are increasingly looking at the classification of workers. Let’s make sure that your workers are properly classified as independent contractors or employees and, if employees, as exempt or non-exempt. And let’s think about having them sign employment agreements or restrictive covenants.
Let’s make sure that the lease of your office and other space allows you to operate that way you want to.
It may seem odd to think of succession planning when you’re just starting your business. But it’s always good to have in place a plan so that your business will survive after your death or disability. Let’s at least talk about what you should be considering.