Why Good Communication with Your Partner is Essential from the Start
Today I’ll get right to it: You need to have good communication with your partner from the start or else you’ll fumble your initial corporate documents. For example, if a multiple-owner corporation’s bylaws are less than 7 pages, that...
How to Make a Late Election for S-Corporation Status
Filing for S-corporation status with the IRS requires compliance with strict time guidelines. Form 2553 must be filed by the 15th day of the third month after your corporation’s fiscal year. For most corporations, that means you must file by March...
Law Firm Going Crazy to Keep Its Corporate Song Off the Internet
I normally don’t post about current events, but the following subject matter is too good to keep to myself. And I’m sure there’s a copyright lesson for your startup company somewhere here… Nixon Peabody LLP, a tremendously large...
Which Type of Entrepreneur are You?
CNNMONEY.com is running a series called “America’s Best Colleges For Entrepreneurs.” One of its feature articles is titled Is it smart to go to school for entrepreneurship? in which 9 entrepreneurs tell their story about how taking...
Top 5 Reasons to Incorporate in Delaware
When you incorporate your startup company, two main decisions arise. First, what type of entity should your startup company be? Second, where should you incorporate? Of the two, entrepreneurs focus primarily on choice of entity–LLC, Corporation,...
How to Know You Have Found a Great Startup Lawyer
A reader emailed me asking: How do I know I have found a great startup lawyer? And judging by this blog’s most frequent search keywords, you may be asking yourself that question, too.Evaluating your startup lawyer (or any lawyer for that matter)...
When Idiot Lawsuits Attack
Every now and then you’ll find a business lawsuit that reeks of desperation. I found one. I guess having a frivolous lawsuit filed against you is a signal that your startup company has “made it.” But I imagine you’d rather find...
How to Avoid Being Ripped Off When You Lease Office Space, Part I
A commercial office space lease is a complicated legal document and is usually your startup company’s first big contract. A real estate broker is a great resource to find available office space and determine the market rents. However, your lease’s...
Why Grandma Could Start the Next Facebook
New data suggests aging baby boomers are leading the surge in entrepreneurship. In a recent article, the Fortune Small Business unit reports how a recent study found that the number of middle-aged Americans starting their own business is surging. According...
The Scoop on Franchise Royalty Fees
Buying into a franchise is one method an entrepreneur might undertake to start his or her own business. Franchises provide the entrepreneur with name-recognition, training and operational support from day one in exchange for an initial franchise fee and...
