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Someone thinks they have a good idea that will be a commercial success. Generally, the process starts with the formation of an entity – anymore it is usually an LLC, but it could be a partnership or a corporation. Forming the entity is pretty straight forward if there will be only one owner.
If there is more than one founder, it becomes complicated. The parties will have to work out who is responsible for what, how they will be compensated, and what happens if there is a disagreement between the owners, or one of the owners quits, becomes disabled, or dies. This is in the form of an Operating Agreement for an LLC, a Partnership Agreement for a partnership, and a Shareholder Agreement for a corporation.
Sometimes starting a business is in the form of acquiring an operating business from someone else, or purchasing a franchise. We are experienced in the purchase and sale of businesses and the transfer of franchises.
As an enterprise begins, contracts are involved. Unless the business is being run out of one’s house, there may be a lease to be reviewed. If there are going to be employees or independent contractors, perhaps an Employment Agreement or Independent Contractor Agreement will be appropriate. Contracts with customers and suppliers, and non-competition or non-disclosure agreements may also be necessary. We can help create or review these contracts.