article thumbnail

Why Entrepreneurs Must Learn to Love Paperwork  

The Startup Magazine

For startups established as an LLC, the operating agreement is the original blueprint that specifies how the company will be run and which members (partners) hold which responsibilities, among other concerns such as profit-sharing. Personal asset liability protection is not ironclad. You must abide by your operating agreement.

article thumbnail

13 Critical Small Business Legal Requirements to Start a Business

Up and Running

Generally, the size is based on the number of employees and annual receipts for a given period. Small Business Administration , an organization is considered to be a small business if their: Firm revenue ranges from $1 million to $40 million Number of employees is between 100 and 1,500. According to the U.S. Get business insurance.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Work with Lawyers at a Startup

Both Sides of the Table

Shame about not getting it in legal writing that you owned the original IP. Founded it as a California LLC but your potential VC wants a Delaware C-Corp? Forget to get around to setting up that Employee Stock Option Plan and want to be able to give the early guys their options at a low strike price?

article thumbnail

Five signs it’s time to get your business organized

www.greenhornconnect.com

1) You and your partners have developed IP critical to your business. Intellectual property is the most valuable asset most startups possess, so it is crucial that the startup, not the founders, own IP developed for the business. 2) You’re hiring employees. 2) You’re hiring employees. Join Greenhorn Connect.

IP 40
article thumbnail

How to Scale a Venture Capital (or Private Equity) Fund

David Teten

Andreessen Horowitz’s compromise: they have a half-dozen “ board partners ” who serve on the boards of their portfolio companies, representing A16Z, but who are not full-time employees of A16Z. If you’re thinking of hiring a Partner, I suggest see How to Negotiate a Partner Role at a Venture Capital or Private Equity Firm.

article thumbnail

Incorporate Your Startup at the Right Time

mashable.com

After all, the sooner you incorporate or form an LLC, the sooner you can start reaping the rewards of incorporation ; the potential tax savings and legal protection. It’s not uncommon for it to take up to 40-60 business days to bring a Corporation or an LLC into existence after submitting your filing documents to any state office.

LLC 75
article thumbnail

Incorporate Your Startup at the Right Time

mashable.com

After all, the sooner you incorporate or form an LLC, the sooner you can start reaping the rewards of incorporation ; the potential tax savings and legal protection. It’s not uncommon for it to take up to 40-60 business days to bring a Corporation or an LLC into existence after submitting your filing documents to any state office.

LLC 75