Starting A Business in Connecticut?
Get Your Business Started Right!
One of the best ways to make sure you stay compliant with State laws is to be compliant with State laws from the start. Proper planning can save your business a lot of money in the future.
Picking a Business Structure
The choice of organizational structure is the first big step in the formation of any business organization. Should you form a partnership? A corporation? An LLC? Maybe you should just remain a sole proprietor and work under your own name?
The answer to which business structure is right for you will depend on the industry you are in, how you will be running your business, what your short and long terms plans and goals are for the business, whether or not you will have investors, partners and/or employees and many other factors. Some factors may totally eliminate the option of certain business structures while other factors may make one more favorable than another.
When it comes time to filing State and Federal documents, the filings can either be done to get them done, or they can be done right. Certain answers on State forms can limit the way you conduct business, who has which powers, or even what types of business you can conduct.
We review our clients entire business model and the regulation of their industry to determine what business structure is best for them and file all necessary State and Federal forms so that the business structure offers the correct level of liability protection and business versatility within the limits of the law.
At the same time as the organizational structure is being framed out, the business founders need to be negotiating and drafting agreements between themselves. Partnerships agreements for partnerships, operating agreements for LLC’s, and Corporate Bylaws for corporations.
Many business owners who started their own business entities completely skip this step. Others simply outline the basics: who owns what percentage of the company and is responsible for what work. But that is simply not enough. The founder agreement needs to address a broad range of contingencies and common problems that arise in business relationships.
As counsel for the business, we can ethically represent multiple founders in the drafting of the founder agreement, by making decisions and drafting the agreements in a way that doesn’t benefit any one founder, but rather maintains the health of the business.
Certain occupations and industries require licenses in order to conduct business or provide certain services. Some require multiple licenses. Some licenses require insurance policies or bonds. Some licenses require certain training or certifications.
As part of the business formation processes we identify any licenses that our clients may need. We fill out all State forms, coordinate and collect all supporting documentation, and advise our clients if anything else is needed to ensure that their licenses are issued.
We can also make sure their licenses remain valid and in effect as part of Business Maintenance Program.