Should Your Startup Be an LLC or Corporation?

paper-with-llc-on-chart-with-calculator-pen-and-magnifier

Search Google for the best legal entity for your new startup, and you will get different opinions. Startup advisors and CPAs will probably recommend a limited liability company (LLC). That’s because an LLC isn’t subject to double taxation and is easier to set up.

On the other hand, many startup lawyers will recommend the C-Corporation structure (typically a Delaware C-Corp) because corporate law is typically more “stable,” equity (stock) ownership is passive, and the entity is more structured.

How you choose to incorporate your startup business will have massive implications down the road. This blog explores the basic advantages and disadvantages of each option.

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The Benefits of S-Corps

business attorney setting up an S-Corp from her desk

Anyone starting a new business is faced with a lot of decisions. Arguably the most important is choosing the business entity type and tax status. Business lawyers and CPAs will present entrepreneurs with several options to choose from depending on the legal entity, including “S” election. 

Each type of legal entity has its benefits and limitations. Technically, there’s no legal entity called an “S-Corp.” A company that makes an “S” election for tax purposes is typically referred to as an S-Corp. However, various types of legal entities including LLCs and Corporations can elect S-Corp status. This blog will discuss the benefits of “S” election.

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Do I Have a Trade Secret?

trade secret

If you are a start-up founder or business owner, you may wonder whether the special practices or proprietary information that make your business unique qualify as trade secrets under state or federal law. In this blog, we’ll provide five questions to ask, to determine if you have a protectable trade secret.

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What to Know About New York’s Cannabinoid Hemp Program

oil hemp

If you intend to sell or distribute hemp, hemp extracts, or cannabidiol (CBD) products, you must comply with New York’s laws about retail and distribution. Failure to get the proper licenses, sell illegal items, and improperly label products can lead to fines and other penalties. Below, learn more about New York’s Cannabinoid Hemp Program. This blog post is not all-encompassing, but rather an overview of the program.

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How to Protect Online Businesses That You Manage

person reading how to protect online business

Recent years have seen the e-commerce industry grow exponentially, providing unlimited opportunities for small to medium-sized businesses (SMBs) to increase sales by allowing them to reach customers through their website directly. With more consumers shopping online than ever before, the ease at which one can set up an e-commerce site means that SMBs can reach a wider customer base than ever before. Therefore, it’s critical to protect your online business if you manage sales or services in-platform.

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Legal Requirements for Starting a Small Business

Business people discussing the legal requirements for starting a small business as a limited liability company

There are over 30.2 million small businesses running in the USA, and every year, a new set of ambitious, driven entrepreneurs set out to join them on their own promising ventures. 

But navigating the business of starting a business can be tricky, particularly from a legal perspective. So, if you haven’t done this before, or just want to brush up on the process, we’ve outlined a few things you need to know, as an aspiring small business owner.

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