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Legal Requirements: Minding the Details

Legal Requirements: Minding the Details

Prompt attention to legal details intrinsic to a new business launch can save major headaches down the road. The most important of these tasks include naming your firm, procuring proper certification and documentation, and establishing a corporate structure. The following article includes some legal considerations, but be sure to seek legal counsel for specifics.

Names, Licenses and More

If you haven’t already done so, review and complete the chores that will cement your new company’s legal framework. Some steps are easier than others, but all of them are critical:

Corporate Structure: More Choices

Even solo operations require a legal structure, not simply for tax-filing purposes, but also to take advantage of tax deductions, insurance breaks and revenue distribution (e.g. salaries, dividends). Here is a rundown of the models currently in use in the commercial sector:

The information included on this website is designed for informational purposes only. It is not legal, tax, financial, or any other sort of advice; nor is it a substitute for such advice. The information on this site may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate, in parts. It is the reader's responsibility to comply with any applicable local, state, or federal regulations, and to make their own decisions about how to operate their business. Nationwide Mutual Insurance Company, its affiliates, and their employees make no warranties about the information, no guarantee of results, and assume no liability in connection with the information provided.