Launch

Congratulations! You have a great idea and have decided to start a business. Before you take any further steps, you should first draft a business plan. Next, you should form an entity under which to conduct business. One of the first decisions you’ll need to make is where to start your start-up. In all likelihood, you will choose between a limited liability company (“LLC”) and a corporation, both of which protect you from personal liability and each of which carry specific advantages and disadvantages. Based on the entity you select, there are certain key legal documents you will need:

If you are a corporation, you’ll need articles of incorporation and bylaws, and you’ll likely want a shareholders agreement, a capitalization table, a founders invention assignment agreement, an employee proprietary information and invention assignment agreement, and perhaps a standard form contract. Click here for more information on these key agreements for corporations.

If you are an LLC, you’ll need articles of organization and an operating agreement, and you’ll likely want a shareholders agreement, a capitalization table, a founders invention assignment agreement, an employee proprietary information and invention assignment agreement, and perhaps a standard form contract. Click here for more information on these key agreements for LLCs.

We believe that defining the economic and business relationship among founders is critical. Early on, you should negotiate and sign a buy-sell/shareholders agreement or operating agreement.

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