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Don’t be a General Partner! (Not Even by Accident)

A partnership is the most basic and perhaps the oldest type of business formation, and quite simply the easiest to enter into.  In fact, it is so easy to enter into, you may enter into without even knowing it.  Anyone you share profits with could legally be your partner, and your partner is legally obligated […]

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Free Operating Agreement Template – Bad Idea!

A free operating agreement typically cause problems for your business

A Free Operating Agreement Template doesn’t make anyone money, so you have to wonder why companies make them available? As a law firm, it probably wouldn’t surprise you to hear that we make most of our money in legal fights — when our clients are in a knock-down, dragged-out fight in litigation. Some of our […]

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What is a DBA?

What is a DBA? A DBA stands for “doing business as”, and can be referred to as a “trade name” or “fictitious name” for a company, partnership or sole proprietorship. It’s like a pen-name or pseudonym, but for companies or others doing business in a state. When Do You File One? Anyone that conducts business […]

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Legal Structure and Your Business

Legal Structure and Your Business Oh great. Another thing to think about. In this blog entry for our “So You Want to Start a Business” series, we tackle the different types of business entity. What form or type of business entity should you create? Most people do not know their options in this regard, let […]

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Sole Proprietorships

In our previous blog article about choosing a business entity, the first and simplest form of business on the “menu” was the “sole proprietorship.” Notice that we referred to this as a business “form” rather than an “entity.” That’s because the business is not an entity – it is YOU. As pointed out in the prior article, […]

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General Considerations When Choosing a Business Structure

After you have made the exciting, daunting and life-changing decision to go into business for yourself, probably the most critical and complex decision impacting the potential success of your business immediately presents itself: What form or type of business entity should you create? Many people are not really sure of what their options are in […]

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Not Incorporating is Risky Business

If you’re operating an unincorporated business, you’re spending more in taxes and you’re exposing yourself to liability. The U.S. Census Bureau says that in the U.S. in 2007, there were 23M “nonfarm proprietorships,” 3M partnerships, and 5.8M corporations, respectively, as measured by the number of tax returns filed. This means a whopping 4 out of […]

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