4 Things to Consider When Starting a Business
Beginning a business can be an exciting time for New Jersey entrepreneurs. The process of raising capital and finding investors can be all consuming, many new entrepreneurs overlook important information within contracts or forget to file proper paperwork which can leave them legally vulnerable. Our Bergen County business attorney has compiled a list of four things you may want to consider as you begin your business.
Your Business Structure
When you have determined you would like to start a business, you must then decide which legal structure of business best suits your needs. You may wish to have your business set up as a sole-proprietorship, partnership, limited partnership, corporation or S-corporation. Which business structure you choose determines your liability. A skilled Bergen County business lawyer can help you review which option would best suit your business needs.
Choosing a Name
Next, you will have to choose a name that represents your business. After you have chosen a name, you must determine of it is available to register with the county clerk. If you have decided your business will be a corporation or LLC, you will have to determine eligibility with the Secretary of State corporate filing office. You will also want to search if your proposed business name is being used as a federal or state trademark. If so, you should choose another name to ensure your business will not confuse other customers.
File for Licenses and Permits
Business owners are required to file for many licenses and permits before opening their doors to the public. Unless you are a sole proprietorship or single-member company, you will have to obtain a federal employment identification number (FEIN) by filing with the IRS. If you are planning on selling retail goods, you must get a seller’s permit for the state in which you wish to sell as well as any other state vocational or environmental licenses required.
If you plan to set up financing for your business or plan to enter into contracts with suppliers, you may want to consider having a skilled Bergen County business attorney draft you a non-disclosure agreement. By requiring your suppliers and financiers to sign a nondisclosure agreement, you ensure your competitor will be notified of your business plans by your suppliers or contractors.
Are You Starting a Business?
If you are planning on starting a business, you should consider retaining a skilled Bergen County business attorney to assist you with managing all legal aspects of the process. At M. Ross & Associates LLC, we offer our clients straightforward, cost-effective business solutions to fit their needs. Whether you plan to secure funding for a startup company, need information on employment law or are just seeking general counsel for your small business, we can help.
Get your comprehensive evaluation today. Call (201) 897-4942.