There are many things that influence whether a business will be successful or not. Many of them revolve around the early decisions that are made, and whether all the parties understand the direction in which the business, and the products or services, will take them.
Ownership and Roles of the Parties
Clarity around the ownership, obligations for investing money in the business, and the roles or responsibilities of each of the parties is paramount.
Business Entity Formation
The type of legal entity you decide to use has tax implications and regulates the authority invested in a board of directors, etc., document how ownership is transferred, etc.
Business Agreements
The framework within which you make decisions often determines the long-term ease and effectiveness of the organization. Don’t avoid or postpone documenting your understandings about how the business will be run, how decisions will be made, how the books will be kept, etc. If there are never any problems one could argue that there was no need for an agreement. But if the “unexpected” occurs (disability, injury, disagreements) then there will be no guidelines to follow to move forward.
These are important documents.
I have extensive experience in working with small businesses owners, writing business plans, obtaining financing, and negotiating agreements (leases, owner agreements, etc.). I have provided business consulting services, served as a real estate agent (NOTE: I no longer have my real estate license), and as an attorney.
I have helped business owners with formation of their companies, ongoing documentation of meeting of the Board of Directors, negotiated disputes, negotiated leases, and handled other matters for them.
Please let me know if you need legal assistance from me by using this “Contact Form”
