Recently read an article about a teenager whose Facebook status update cost her father the $80,000 settlement he won in an age-discrimination lawsuit. The facts are simple. Father signed an agreement for an $80,000 settlement in an age-discrimination case. The daughter bragged about the award on Facebook. The employer sued to get the settlement award … Read More
In Colorado, creating a new business entity is simple. It costs $50 and takes fifteen to twenty minutes to set up online. But just because it’s simple doesn’t mean people don’t get it wrong. In fact, many thousands of people get it wrong every year. In Colorado, every Limited Liability Company is required to include … Read More
As I play in the startup game longer, a few of my clients have progressed from where they’re not just starting their businesses, but rather selling them as well. It’s fun to see the whole cycle play out – but it’s created a unique set of challenges for them and for me. One of my … Read More
Venture capitalists get lots of attention, and for good reason. Most of them possess an elite intelligence and pedigree combined with machete-sharp business acumen. The super rich trust them to find “the next big thing,” and they’re willing to pay VCs huge management fees to invest hundreds of millions of dollars on their behalf. It’s … Read More
Paradoxical though it may seem, how you start your business is often dictated by the end game. Not all entrepreneurs are in the startup world for the same reasons. Some want freedom and the ability to control their own schedule. For others, the motivation is to create something transformative with technology. Some harbor dreams of … Read More
I volunteer as a Guardian Ad Litem with the Rocky Mountain Children’s Law Center. Basically, what this means is that when there is an incident of alleged domestic violence that involves a restraining order and there are children included in the order, I investigate what’s happened to ensure that the children’s rights are protected. Sometimes, … Read More
An S corporation is a business entity that combines many of the advantages of an LLC with the advantages of a corporation. Practically, the biggest hurdle for someone looking to start a corporation is the problem of double taxation. That is, paying taxes for the activities of the corporation and also for profits that are … Read More
Traditionally, if you want to raise money, you do it in one of two ways: through debt or equity financing. But angel investors who want to lend a new business money at a reasonable interest rate are rare (for good reason), and those who want to do it for a piece of the pie typically … Read More
According to the IRS, there are five types of business entities: Sole Proprietorships, Partnerships, Corporations, S Corporations, and Limited Liability Companies. Many state statutes allow for additional entities, such as Limited Liability Partnerships and L3Cs (You can register in Colorado as the former, not the latter). For the majority of entrepreneurs, the only real choices … Read More
When I think of businesses that incorporate in any state other than their home state or Delaware, the expression that comes to mind is “too clever by half.” Unless there is a law prohibiting your business from operating in your home state or Delaware (for example, Amazon refuses to allow companies incorporated in certain states … Read More
