Below you'll find a list of all posts that have been tagged as “startup business”
An Ohio Limited Liability Company (LLC) may be formed to sell goods or services. An LLC is a separate legal entity; this type of entity is sometimes mistakenly called a limited liability corporation. Unlike a corporation, the ownership units of an Ohio LLC are called a Membership Interests instead of shares. Each owner of the Company is known as a …
In order to form an Ohio LLC, Articles of Organization must be filed with the Ohio Secretary of State. The Secretary of State may accept the articles if there is not an existing company organized, in Ohio, with the same or similar name. There is a common misconception that filing with the State, alone, creates a company and limits personal …
Business owners must consider compliance at the federal, state, county, and local government levels. A blind spot in the law, if missed, can be financially devastating. Click here to schedule a free initial consultation for review your business. 1. Ohio Sales Tax Every company sells goods, services or a combination of both. Some of these sales are subject to sales …
A vesting schedule dictates when a founder (or employee) has full ownership rights in the company. This schedule is typically based on duration with the company. For example, if we use a four year vesting schedule with a one year vesting cliff; if a founder leaves within the first year they receive no shares. After the first year, the shares …
What happens if a founder leaves (or dies) before putting in the hard work necessary for the company to be a success? If that founder has full ownership of his or her stock, then you, as the remaining owner(s), will be required to pay despite the lack of contribution to the success. When should a vesting schedule be considered? Without …
A trademark is a distinctive sign or indicator, used by an individual, business, organization or other legal entity, to identify source of goods or services. A trademark is also used to distinguish its products or services from those of other entities. A trademark is typically a name, word, phrase, logo, symbol, design, image or a combination of these elements. There …
No. Registering your LLC or Corporation does not give you federal trademark protection. Only a registered trademark can provide national protection against infringement. The State of Ohio does not verify if your mark will infringe on other trademarks. Instead, the search is limited to registered business names in the state. Thus, you could register a business in the State of …
For a business owner, it may be unclear when a confidentiality or non-disclosure agreement is necessary. The parties who should sign a confidentiality agreement include: employees, independent contractors, consultants, vendors, suppliers, and any person who will receive material non-public information. Material non-public information can include your pricing structure, client lists, customer lists, formulas, or other data which if placed in …
A confidentiality agreement, also known as a non-disclosure agreement or NDA, is a contract between at least two parties that limits the disclosure of confidential material, knowledge, or information. The purpose of this restriction is to allow disclosure of non-public information between the parties. For a startup business or an existing business with a new idea or business plan, a …
Yes. There is no substitute sound legal advice. Here are four (unbiased) factors to consider when deciding whether to use an Attorney for your business: 1. Filing with the Ohio Secretary of State does not (by itself) create a business. While it is necessary to file with the State of Ohio to incorporate, filing simply creates the right to operate a …
