Hiring the right business lawyer from day one when you’re a startup makes all the difference in the world.
Andrew S. Bosin, Esq. has the boots on the ground experience to help any start-up needing to form a business, raise capital, distribute shares, elect a board of directors, attract investors, and ultimately assist in the sale of the company. Andrew has gained this invaluable experience from both his own start-up company and assisting entrepreneurs in getting their businesses off the ground.
Andrew S. Bosin, Esq. provides startups and entrepreneurs with legal advice and counseling pertaining to:
- partnership and operating agreements
- whether a Delaware C. Corp is right for them
- ratifying actions of the company
- selling or granting shares in the company
- voting rights
- electing a board of directors
- non-compete agreements
- consulting and independent contractor agreements
- employment agreements
- business contracts and agreements
Business Structures for Legal Protection
It is extremely important to seek legal advice prior to your company’s incorporation. There are multiple ways to structure and protect your business with a solid legal foundation, for example incorporation (C-corporations, Delaware C. Corp’s, and S-corporations), limited liability company (LLC), partnerships, ect. An attorney who specializes in startups can help find your ideal business model.
“Rules” in an LLC
What happens after you incorporate? If you are an LLC, you should have an operating agreement in place so that all members have (for lack of a better term) a set of “rules” to deal with voting, shares, new members, death, disability, and dissolution of the company.
Bylaws and Directors in a Delaware C. Corp
No operating agreement is necessary to form a Delaware C. Corp. Rather, this type of corporate entity is governed usually by its bylaws and a majority vote of the owners of the company. Typically, a certain amount of shares is distributed to the members as set forth in the bylaws. Members can then vote to distribute more shares to themselves or to sell to outsiders to raise cash.
Although not necessary for the company to function, every Delaware C. Corp that intends to put a product in the marketplace should elect a board of directors. The board will typically ratify votes taken by its members on matters of importance.
Consulting Agreements and External Talent
Inevitably, there will come a time when your company, if it is tech arena, will need to attract talent or expertise to either finish your product or get to the next level. My law firm advises companies with regard to selling shares to outside members in exchange for their services typically in the form of a consulting agreement.
Call Business Startup Lawyer Andrew S. Bosin at 201-446-9643. Andrew is located in New Jersey near New York City & charges flat rate fixed legal fees for most engagements.