Starting a new business venture can be an exciting prospect. However, to help make your new business a success, you need to do the proper planning. Here are three questions to ask yourself so that you can make some vital decisions while forming your new business.
#1 What Type of Business Entity Should My Company Be?
There are many ways to structure a company including a sole proprietorship, partnership, LLC, s corporation, and c corporation. A number of factors will determine whether you should incorporate and which type of business entity will be best for you. The benefits of incorporation include limiting personal liability and getting greater tax benefits.
#2 What Intellectual Property Will I Need to Protect?
Protecting intellectual property (IP) is just as important for a small business as it is for a large corporation, if not more so. Everything from your company logo to branding and trade secrets are what identify your company as unique and attract customers. That means protecting your trademarks, copyrights, and patents.
#3 What Type of Business Contracts Will I Require?
Whether you are forming a partnership, will be leasing property for your business, or are going to have employees, business contracts and agreements are going to play an important role in your business. You need to know what kind of business contracts have to be drawn up before you officially start your company so that your best interests can be protected from day one.
A San Diego Business Attorney for California’s Small Business Owners
At Pokala Law, you’ll find a refreshing approach to business law that focuses on the needs of small business owner’s like yourself. To get more business startup advice and to see which of our services can be most beneficial to you, call 1-844-695-1487 today.