Business & Nonprofit Law
Small Business Law governs how people conduct business in the government and private sectors. It covers the formation of a new business such as a sole proprietorship, partnership, corporation, limited liability company and a franchise. It also covers nonprofit organizations which are business entities that have special purposes to benefit others and not intended to be for the profit of investors. Frequently referred to as IRS 501(c)(3) companies, nonprofits (such as charitable or educational foundations) are afforded special tax treatment.
Choosing the appropriate legal entity is one of the most important decisions an entrepreneur can make. The limitations of liability and tax benefits vary between corporate entities and state laws. Incorporating a new business can be complicated and may require the creation and filing of a set of corporate bylaws, articles of incorporation and articles of organization. Corporate law covers shares, dividends, shareholders, officers, board of directors, mergers and acquisitions, franchise law, securities and antitrust regulations. Having a knowledgeable business lawyer on hand at the beginning of a venture can be extremely beneficial for individuals and startup companies.
Categories
What is a Registered Agent?
A registered agent is a person or entity authorized to receive legal and official business documents on behalf of a corporation or business enterprise (the “principal”). Documents may include a copy of a summons and complaint for lawsuit that has been filed, a DMCA...
This article will guide you through finishing the process of setting up a company and beginning the actual operations for a new business. It follows the preliminary steps you must take, covered in The Planning Stage and Registration & Incorporation, the first two articles in the "Starting a...
This article will guide you through the process of registering and incorporating a new business. It follows the preliminary steps you must take before registration, covered in Starting a Business Checklist: The Planning Stage, the first article of our series of three "Starting a Business"...
Good planning is critical for the success of any entrepreneur. This article, the first of three in the “starting a business checklist” series, will guide you through the initial stage of starting a new business. After you are finished planning your business with this information, you'll be able...
Prior to filing and incorporating a nonprofit organization, it is important to review the Internal Revenue Service (IRS) requirements to ensure qualification for tax-exempt status under Internal Revenue Code (IRC) 501(c). Not doing so could result in a significant waste of time and money and...
It is of critical importance to choose a strong Board of Directors for a new corporation. This article will explain the functions of the board and provide best practices on the selection process. This is the third article in the "How to Create a Nonprofit Organization / Corporation" and fourth...
In this article we will cover the information you need to create and incorporate a for-profit corporation, including C-Corporations, S-Corporations, Limited Liability Companies (LLC) and more. The steps to create a for-profit corporation are listed at the end of this article.
Incorporation...
This article discusses how to define the primary purpose of your nonprofit organization and how to begin the process of starting your marketing plan. It is the second article in the "How to Create a Nonprofit Organization / Corporation" and "How to Incorporate a Business (For-Profit)" series...
This article is an introduction to creating and incorporating a nonprofit organization and obtain 501(c)(3) tax exempt status. The steps to create a nonprofit organization by yourself are listed at the end of this article.
Introduction, Costs of Creating a Nonprofit Organization
The first...
This article provides best practices on how to select a good company name when creating a new corporation. It is the third article in the "How to Create a Nonprofit Organization / Corporation" and fourth in the "How to Incorporate a Business (For-Profit)" series.
Every for-profit corporation...
This article will help you understand the reasons why people incorporate a nonprofit organization and help you make a decision as whether it is right for you.
Should You Incorporate a Nonprofit Organization
If you have just started the process of setting up a not for profit company you might...
People create non-profit organizations (also known as "nonprofit" or "not-for-profit" companies) for a purpose other than the profit of the creators. While the business does have a need and incentive to generate revenue, the primary purpose of the entity is to benefit the members of an...
What is a corporation and why do people choose to file them instead of a partnership or a simple sole proprietorship? This article will give you a basic primer on corporations and understand what they are, why they are desirable and what is required to incorporate your business.
What is a...
When an individual person owns and operates a business alone, that business is called a “Sole Proprietorship.” It is the easiest form of business to set up and, by far, the least costly and with virtually no legal formalities.
Using Fictitious Business Names or Trade Names
A sole proprietorship...
Is a contract that you make with someone else enforceable in a court of law? Does it matter whether it is written or spoken? This article will explain to you the basic requirements needed for a binding contractual agreement.
The elements of a binding contract
The law recognizes that people make...
What Is the Statute of Frauds?
The "Statute of Frauds" (commonly abbreviated as "SOF") is a rule of law requiring certain kinds of contracts to be written (not oral or "verbal") and be signed by all parties to an agreement in order to be binding. The types of contracts and rules that comprise of...
A corporation is a body or group of people who come together to form a legal business entity. Once formed, a corporation is an entity of its own, set apart from the group of people that own it, manage it and control it. Corporations can be referred to as a legal “person or entity” that can be...