Business Formation

When you are starting your business, there are certain items you should consider. The most basic is what type of entity and where you will incorporate. Your business taxes, regulations, and locations will help to determine that. Call the Law Firm or your attorney to discuss each of these points and ensure that you are aware of all options and their consequences in forming and operating your company. Only with complete information are we able to provide the best and most efficient documents necessary to properly operate your company and protect your rights.

Some of the standard documents you need to start your company are (depending what entity you choose):

  • Articles of Incorporation.
  • Articles of Organization.
  • ByLaws
  • Operating Agreement
  • Member Control Agreement
  • Stock purchase agreement
  • Written Action in lieu of first meeting of Stockholders or Member.
  • Written Action in lieu of first meeting of Board of Directors.
Some of the items you need to consider are:
  • Obtaining Federal and State tax ID numbers if you are requred to do so.
  • Obtaining an Unemployment Insurance Account number if you are required to do so.
  • Obtaining Workman's Compensation insurance if you are required to do so.
  • Business Liability Insurance to protect your assets and business income.
  • Other documentation in hiring, payroll, sales contracts, and vendors for compliance and to protect your rights. 

We would love to be your attorney and help you with all of the above.

Choice of Entity and Formation Documents
  1. The name and address of the Company and each officer, owner and organizer.
  2. The powers for Amending, voting, and financing the company.
Board Powers and Management Authority.
  1. Initial number and composition including limits and changes to board structure.
  2. Board Meetings.
  3. Powers of the board or limits on Board powers.
  4. Indemnification of Board.
Ownership Rights (Financial and Governance).
  1. Class of Owners and Series (preferred, participating, etc.).
  2. Owner Meetings.
  3. Governance Rights.
  4. Financial rights.
  5. Termination of ownership.
Termination of Company.
  1. What percentage vote required to dissolve company.
  2. Distribution of Assets when winding up.