This episode of the Private Company Strategies podcast is the first of our series, From Start-Up to Stand-Out. Hosts Adam Diederich, Berin S. Romagnolo, and Sara Rosenberg discuss the essential legal considerations for starting a business in the United States.
This episode of the Private Company Strategies podcast is the first of our series, From Start-Up to Stand-Out. Hosts Adam Diederich, Berin S. Romagnolo, andSara Rosenberg discuss the essential legal considerations for starting a business in the United States.
They cover topics such as the importance of forming a legal entity, the various types of entities available, tax implications, the significance of ownership agreements, and the necessity of hiring professional support. The conversation also touches on the Corporate Transparency Act (CTA) and its requirements for new businesses.
Highlights of the conversation include:
- Proper formation as a separate legal entity protects owners from liabilities.
- Tax considerations are crucial to choosing the right type of corporate entity.
- LLCs offer flexibility in both corporate governance and tax classification.
- Ownership agreements are recommended to prevent disputes among business owners.
- The CTA mandates registration for most new entities.
- Professional support, including lawyers and accountants, is vital for new businesses.
- Incorporation jurisdiction affects the business's legal framework and fees.
- Delaware is a popular choice for incorporation due to its business-friendly laws.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
