Starting a company can be straightforward when divided into three simple steps. This guide walks you through the process and highlights the legal services lawyers typically provide to keep you compliant and protected.
Step 1:
- Choose a business structure and name -
- Decide the entity type: sole proprietorship, partnership, limited liability company (LLC) etc.
- Conduct a name search to ensure availability
- Reserve the name if required Legal services provided by lawyers
- Structure selection advice aligned with tax and liability considerations
- Name availability search and trademark checks -
- Preparation of initial governing documents and filings as needed.
Step 2:
--Prepare and file essential documents -
--Draft or prepare articles and Memorendum of incorporation of organization
-- Draft bylaws or operating agreement
-- Obtain federal tax ID and state tax registrations
- Prepare initial board resolutions and share allocation
- Ensure compliance with local licensing requirements
Legal services provided by lawyers:
Drafting and filing required formation documents
-- Regulatory and compliance review
-- Guidance on equity structure and shareholder agreements
-- Drafting and vetting Articles and Memorendum for companies.
Step 3:
--Obtain licenses, registrations, and ongoing compliance
-- Apply for business licenses and permits
-- Register for taxes and payroll with authorities
-- Set up corporate governance, annual report filings, and annual meetings
Legal services provided by lawyers:
--License and permit applications
-- Ongoing compliance calendar and annual report filings
--Corporate housekeeping such as meeting minutes, and board resolutions
Conclusion:
By following these steps and leveraging legal expertise, you can register a company efficiently while staying compliant from day one and avoid any penalties.
