BUSINESS START-UPS
You’ve got the idea, the product, the skill. Now it’s time to create your new business. Where do you start?
The first step is to determine a business structure that will meet your needs. David Bryman’s advice and implementation can be the key to a smoother ride going forward.
Your choices include:
• LLC (Limited Liability Company)
• S-Corporation or C Corporation • Sole Proprietorship or a partnership. • If partnership, do you need a General Partnership, a Limited Partnership, an LLP (limited liability partnership)? Once a decision on all of the above has been determined, the initiation of legal paperwork begins. Creation and filing of all documents becomes the cornerstone of your beginnings. Next step would be to create an OPERATING AGREEMENT. The Operating Agreement protects all parties from misunderstandings and ambiguities. It determines the structure and operating functions of the business. Once this document is created and signed by all parties, it is an official contract that binds all participants to its terms. While oral agreements can be binding, in the event of disputes, misunderstandings arise. At that point, the oral agreement isn’t worth the paper it’s written on. With a clear and concise written agreement, conflicts are not left to chance. A THOUGHT PROVOKING SCENARIO: Your new partner might be the salt of the earth with whom you have no issues. But, if the business takes off and your new partner meets an untimely death, ARE YOU GOING TO BE COMFORTABLE BEING IN BUSINESS WITH HIS/HER SPOUSE or adult child? This and many other shocking scenarios can be avoided simply by making the wise decision to start or continue your business with all issues in writing and on the table. David Bryman has been practicing business law for over twenty years. He is savvy, competent and caring. He is a great listener and can convert your thoughts into language that exactly spells out what you’re trying to accomplish.
You’ve got the idea, the product, the skill. Now it’s time to create your new business. Where do you start?
The first step is to determine a business structure that will meet your needs. David Bryman’s advice and implementation can be the key to a smoother ride going forward.
Your choices include:
• LLC (Limited Liability Company)• S-Corporation or C Corporation • Sole Proprietorship or a partnership. • If partnership, do you need a General Partnership, a Limited Partnership, an LLP (limited liability partnership)? Once a decision on all of the above has been determined, the initiation of legal paperwork begins. Creation and filing of all documents becomes the cornerstone of your beginnings. Next step would be to create an OPERATING AGREEMENT. The Operating Agreement protects all parties from misunderstandings and ambiguities. It determines the structure and operating functions of the business. Once this document is created and signed by all parties, it is an official contract that binds all participants to its terms. While oral agreements can be binding, in the event of disputes, misunderstandings arise. At that point, the oral agreement isn’t worth the paper it’s written on. With a clear and concise written agreement, conflicts are not left to chance. A THOUGHT PROVOKING SCENARIO: Your new partner might be the salt of the earth with whom you have no issues. But, if the business takes off and your new partner meets an untimely death, ARE YOU GOING TO BE COMFORTABLE BEING IN BUSINESS WITH HIS/HER SPOUSE or adult child? This and many other shocking scenarios can be avoided simply by making the wise decision to start or continue your business with all issues in writing and on the table. David Bryman has been practicing business law for over twenty years. He is savvy, competent and caring. He is a great listener and can convert your thoughts into language that exactly spells out what you’re trying to accomplish.
David N. Bryman
630 Village Trace
Building 15, Suite E
Marietta, Georgia 30067
Phone: 770.612.0909 Extension 1
Fax: 770.612.0409
Email: info@brymanclerke.com.
