The Startup Magazine
APRIL 2, 2020
There will be plenty of it early and often during your entrepreneurial journey, but rather than look at it as a headache you should consider the many ways in which it will help protect you, your family, and the company as a whole. Personal asset liability protection is not ironclad. You must abide by your operating agreement.
Up and Running
JULY 28, 2022
Not only do these requirements ensure that businesses operate within the law but it also protects small business owners and their consumers. . A small business is an independently owned and operated entity that engages in commercial activity and fulfills the set industry-specific size standards. What legally defines a small business?
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The Startup Magazine
JUNE 14, 2019
It is estimated that at least 80% of all startups rely on personal funds from their founders for operations, albeit in their formative stages. A limited liability company status, for instance, will protect you from your business’s legal hurdles and their costs too. Private borrowing.
YoungUpstarts
AUGUST 25, 2015
One of the first actions you will take with your startup is to organize your company a separate legal entity to protect yourself from personal liability for the company’s debts. In the tech startup context, you’ll typically choose between a Corporation and a Limited Liability Company (“LLC”). Verdict : LLC.
Startup Professionals Musings
JUNE 13, 2016
Thus I’ve never understood why so many of these assume they can operate as non-profits. Obviously all founders wants to minimize their taxes, yet the initial setup for non-profits is bureaucratic, takes up to two years of time, and costs thousands. Delivering social value always costs money. Retaining a qualified team is challenging.
Up and Running
AUGUST 6, 2014
For-Profit Entities: L3Cs, or Low-Profit Limited Liability Company. L3Cs, or Low-Profit Limited Liability Companies, are one form of legal structure in the U.S. An L3C is a variation on an LLC, essentially a hybrid form of a nonprofit and for-profit company. . that social enterprises can take.
Startup Professionals Musings
FEBRUARY 8, 2019
The primary business entity options include a sole proprietorship, Limited Liability Company (LLC), or a Corporation (B-Corp, C-Corp, or S-Corp). File founder stock election so no taxes are due until exit. Additionally, I recommend that you review and update co-founder ownership agreements annually.
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