Business Formation
Questions to Ask When Starting a Business
The most important legal consideration when you are starting a business is to make sure that everyone knows where they stand with the company. The next step is to make sure that there is clear, written documentation of everyone’s status in the company. To do this correctly, first you have to consider all the relevant … Read More
The Stupidest Mistake Startups and Small Businesses Make
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
No Exit, Early Exit, Venture-Backed Exits
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
Questions to Answer When Starting an LLC
Creating an LLC is easy. In Colorado, with a computer, an Internet connection, and $50, you can set up your business in about ten minutes. The only information you need to provide are the name and address of the registered agent, the principal place of business, and information about the person filing the articles of … Read More
What Documents Does an LLC Need?
Frequently, clients ask me what kind of documents they’ll need when they’re forming an LLC. The simple answer is that it depends on what type of company the LLC is going to be. There’s a misconception that forming an LLC is tantamount to acknowledging that your company is always going to be small. That’s rubbish. … Read More
Corporate Governance for Small Businesses
Well-run businesses have processes that work. Those who run the company have put thought into the processes. They’ve studied them, documented them, and formalized them. They leave no doubt about who made each decision and when. They leave a trail of evidence that supports the reasonableness of each decision and the methods that the company … Read More
Starting a Business 101: What Is an LLC?
The limited liability company (LLC) was first adopted by Wyoming in 1977. It is a business structure has only become commonplace across the country in the last twenty years. But today, it is the most popular business entity in most states. It provides its owners the same liability protection that corporations receive while allowing its … Read More
Small Corporate Trick: Consent to Action without Formal Meeting
Many small businesses that are on the fence of whether to form a corporation or an LLC decide to form an LLC because it’s easier and requires less upkeep. And while it is true that there are additional formalities associated with incorporation, they needn’t be overly burdensome for the small company without tremendous resources. One … Read More
Five Documents You Should Have When You Incorporate
Technically, to form a corporation, you only have to file articles of incorporation (or a corporate charter) with the secretary of state. But if you want to operate as a legitimate business that engages in regular transactions with customers to make money, you’re going to need a little more. Here are the basic documents that … Read More