Welcome to www.OnlineOrganizing.com -- A World Of Organizing Solutions Your Order Your Shopping Cart About Us Contact Us Site Map
Do You Need Help Getting Organized?Shop For Organizing And Business Development ProductsProfessional Organizing ServicesFind A Seminar, Workshop, Or Keynote SpeakerRead Our Two Free Monthly NewslettersFree Organizing Tips And AdviceResources For Professional OrganizersLearn How To Become A Professional OrganizerUseful Organizing Website LinksUseful Organizing Website Links


Search for:

Category:


Here are some random keywords you might like to explore:

You Are Here: Home - Newsletters - "Organized For A Living" - Article

     Starting Off Right


This is an interview with business and corporate attorney Joe Gottlieb -- discussing some important LEGAL issues you need to consider as your company gets off the ground.
Q: TELL ME ABOUT YOUR LEGAL SERVICES.

A: I provide legal services to self employed people and small to medium size companies. My services are TRANSACTIONAL rather than litigation based. I provide general counseling that may include issues such as choice of entity issues for start-ups and preparation / review of contracts and agreements of all types. I also represent buyers and sellers of businesses in purchase or sale transactions, and I work with franchisers and persons purchasing franchised businesses.
Q: WHO IS YOUR TYPICAL BUSINESS CLIENT?

A: My typical client is a closely held business (with only owner or a few partners), usually in a SERVICE industry. My clients include retail businesses, professional practices, as well as self employed persons.
Q: WHAT IS THE FIRST QUESTION YOU ASK A START-UP?

A: The first questions I ask relate to the business, or proposed business itself. I need to have an understanding of the operational side of things so that I can better address their legal needs. I avoid a COOKIE CUTTER approach -- all businesses will have particular needs, all business owners will have a different risk-tolerance, and each person I talk to has different goals for their business. That's why knowledgeable legal advice is so important -- new entrepreneurs need someone who has had experience with many different kinds of businesses, and who can help recognize the QUESTIONS that they (the business owner) don't know to ask.
Q: HOW DO YOU SELECT THE RIGHT BUSINESS ENTITY?

A: The decision is typically driven by two considerations -- liability and tax issues. Forming a legal entity will create a shield of LIABILITY for the principals, thereby protecting their personal assets from persons with claims against the business. For many businesses, remaining as a sole proprietorship may suffice with adequate liability INSURANCE. But forming an entity also gives a business greater flexibility to raise capital, bring in investors, and give the appearance of a larger business. From a tax perspective, forming a corporation or Limited Liability Company may give the owner the ability to save money on self-employment TAXES. The type of entity (S-corporation, C-corporation, Limited Liability Compay, etc.) is also driven by such factors as the number of shareholders, citizenship status, and the state where the business is located.
Q: WHAT ARE THE MOST IMPORTANT START-UP ISSUES?

A: The biggest practical legal issue involves the documentation needed -- proper AGREEMENTS -- to set fees for services and collecting fees for services/goods sold. If the business will use a trademark or service mark, the owner also needs to do some research to avoid INFRINGEMENT claims.
Q: WHAT IS THE BIGGEST LEGAL MISTAKE YOU SEE?

A: The most common mistake new entrepreneurs make is the lack of sufficient operating CAPITAL to see the business through its formative stage. Most new business owners underestimate the funds needed to run the business and to live at the same time. This often leads small businesses to try and skimp on seeking valuable professional ADVICE right at the beginning of their venture -- from attorneys, accountants, and insurance agents who can protect them from future liabilities. And unfortunately, itís often too late (or very expensive) to go back and do it right once youíve already done it wrong.
Q: ARE THERE ANY GOLDEN START-UP RULES?

A: Do a thorough job of due DILIGENCE, consult with experts (accountants, lawyers, etc.), research market trends, and be REALISTIC about the time commitment needed to be successful.
Q: ANY ADVICE FOR START-UP ENTREPRENEURS?

A: The best advice I could give is to find a good ATTORNEY and an ACCOUNTANT. Spending a few dollars on the front end will save you time, energy, worry, and money over the long-run..

 

Joe Gottlieb is a partner with the law firm Hassett, Cohen, Goldstein, Port, & Gottlieb -- a law firm focusing on the special needs of entrepreneurs and companies in the new economy. Joe specializes in business transactional matters, including choice of entity, preparation of business agreements, the purchase / sale of a business, and franchise arrangements. You may contact Joe at or 770-393-0990 x 105 -- or visit his firmís website at >www.internetlegal.com.


Would you like to reprint this article in your publication -- or distribute it to a wider audience? Click here for reprinting instructions.

Want to receive these kind of articles via e-mail each month? Sign up for a free newsletter subscription.

Click here to return to "Organized For A Living" -- February 2002...

Add this page to your Bookmarks!

E-mail this page to a friend!







www.OnlineOrganizing.com is a service mark of Bradford, LLC.
Content on this site is © Bradford, LLC, All rights reserved.

If you notice any problems with this site, please contact our webmaster.
And if you don't see what you need you are welcome to "ask the organizer" any question!

To see what people are saying about www.OnlineOrganizing.com, check out our visitor comments.

Click here to view our privacy policy.

Calendar Of Organizing Holidays And Events Blog Central Sign Up For Our Free Online Newsletters Join The Conversation At Our Organizing Discussion Board Advertise Your Company On Our Website Be An Affiliate Of www.OnlineOrganizing.com
Check Us Out On FaceBook