Tying It All Together
Final Thoughts
Forming Your Company
Structure your corporate entity with tax, limited personal liability and ability for expansion in mind
LLCs and S-Corps are most popular, but may not be best for your unique circumstance
Business Relationships
Know the people involved in the vision for and management of your business: co-founders, board of directors, advisors, etc.
Put proper agreements in place so there is no uncertainty in roles, responsibilities and expectations
Intellectual Property
Ensure there are written agreements in place with everyone using or working on your IP, including employee IP assignment agreements
Register trademarks and copyrighted material when possible to gain added protection
Consider when to pursue patent rights versus maintaining confidential information as a trade secret
Liability
The company may liable for the torts of its agents and employees
Liability may extend to officers and directors in some cases
Understand employment laws in your state
Put a risk and compliance management strategy in place to reduce potential liability
Raising Capital
Don’t sell securities to non-accredited investors
Generally, advertising and soliciting for investors is prohibited and subject to strict rules
Consult with an attorney before offering shares in your company to third parties
Expanding Your Business
Laws in different countries and jurisdictions vary.
Business combinations are often used to expand the business footprint or liquidate investments, but comes with legal obligations
Hire A Lawyer
Don’t assume that consulting an attorney can wait
Remedial measures are often unavailable or prohibitively expensive
Thank You