Designate the proper business entity
Designate proper forum for the entity
Check which licenses, permits, and registrations your business needs
Consult with an accountant to make sure you are paying proper business taxes
Do proper bookkeeping from the beginning
Decide on the capitalization of the entity
Decide on the allocation of preferred stock
Get a founder’s agreement in writing
Get a shareholder’s agreement for common and preferred stock
Do you need a Private Placement Memorandum
Set a vesting schedule for all founders and early employees
Get your employer identification number (EIN)
Protect your intellectual property
Classify your workers properly
Purchase workers compensation insurance
Trademark your logo
Patent your invention
Make sure you’re in compliance with securities laws
Follow email regulations
Make sure your investors are accredited
Establish a privacy policy
Create a company handbook
Hire competent legal counsel
Starting a new business is a challenging pursuit. Part of what makes it so complicated is all the legal implications that come with the start up. As a business owner, you want to make sure you have covered all your legal bases to avoid any fines, lawsuits, or—worst case—even jail time. There are plenty of legal resources available to businesses both online and through hired legal counsel.
