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23 Attorney Recommended Requirements when setting up your Start Up

  1. Designate the proper business entity

  2. Designate proper forum for the entity

  3. Check which licenses, permits, and registrations your business needs

  4. Consult with an accountant to make sure you are paying proper business taxes

  5. Do proper bookkeeping from the beginning

  6. Decide on the capitalization of the entity

  7. Decide on the allocation of preferred stock

  8. Get a founder’s agreement in writing

  9. Get a shareholder’s agreement for common and preferred stock

  10. Do you need a Private Placement Memorandum

  11. Set a vesting schedule for all founders and early employees

  12. Get your employer identification number (EIN)

  13. Protect your intellectual property

  14. Classify your workers properly

  15. Purchase workers compensation insurance

  16. Trademark your logo

  17. Patent your invention

  18. Make sure you’re in compliance with securities laws

  19. Follow email regulations

  20. Make sure your investors are accredited

  21. Establish a privacy policy

  22. Create a company handbook

  23. 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.

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