There is more to operating a successful business than meets the eye. Whatever your company’s end product may be, it is often the behind the scenes work that determines the success or failure of the business. Every business needs a solid business plan backed up by strong legal documents in order to succeed. The protection offered by proper legal business documents is invaluable and is a smart investment for every business owner.
The lawyers at Schlueter, Mahoney & Ross, P.C. can help ensure your business documents are in order and your business is protected. Our team of highly experienced attorneys can assist with:
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Since 1989, we have supported and guided members of the Denver, CO community through business growth and development, challenges and successes. The attorneys at Schlueter, Mahoney & Ross, P.C. are well familiar with Colorado law and the nuances of operating a small business. Our small firm size allows our lawyers to be easily accessible to their clients, resulting in prompt and efficient service when the client needs it, not when it is convenient for the law firm.
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Our attorneys can be reached by phone at (303) 292-4525, at our office, or by filling out the contact form on our Contact Us page.
Our attorneys, Michael A. Schlueter, Elliot Fladen and Lisa C. Secor represent clients throughout Colorado, including Denver, Aurora, Broomfield, Boulder, Greely, Commerce City, Lakewood, Highlands Ranch, Littleton, Arvada, Westminster, Pueblo, Thornton, Colorado Springs, and Fort Collins.
Thank you for visiting the website of Schlueter, Mahoney & Ross, P.C. Please note that the information contained on this site is not legal advice, nor is it intended to be legal advice. It should not be relied upon in making any decision in connection with your specific legal situation. We welcome your calls, letters, and emails, however, contacting us does not create an attorney-client relationshipIf starting a new business is on your 2022 New Year’s resolution list, we’re here to help you begin on the right (and legal) path.
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Technically, a business plan is not a “legal” document, nor is it required to start a business, but developing a business plan before you attempt to secure financing, look for office space, or even pick a business name, is highly recommended. Creating your plan at the beginning forces you to assess your goals and resources, strategize a road map for success, and determine the feasibility of your endeavor. In the business plan, outline your target market, your competition, and your capital needs, both for startup and three to five years out.
If you run your business under a trade name or any other name that is different from the legal name of the business, you need to register a DBA for your Fictitious Business Name in the business’s home state. For sole proprietorships, the business’s legal name might be the owner’s name but could also run under an assumed name such as “The Marketing Guy.” To be completely transparent, the business owner needs to file for a DBA. The same principle goes for any other entity (partnership, LLC, C Corporation, or S Corporation) operating under a different name.
A partnership is a legal entity where two or more people own and operate a business. Each partner owns a portion of the company’s assets and liabilities, and each is responsible for the debts, profits, and legal burdens. The partnership agreement details each partner’s share of ownership and responsibilities, including contributions, decision-making powers, distribution allowances, and steps for dispute resolution.
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The main reason many business owners decide to incorporate their new businesses is to minimize their personal liabilities. Once the business is legally incorporated, it exists as a separate entity, putting a barrier between the business and the owner’s personal assets. Incorporating also boosts the business’s credibility, allows the owners to sell stocks, and take advantage of several tax advantages for corporations. To register as a C corporation, there are several legal documents you need to file.
If you choose to structure your business as a Limited Liability Company (LLC), you will need to file an Articles of Organization in your business’s home state. An LLC is also a separate legal entity from its owners (known as “members”) and can be formed as either a single-member LLC or a multi-member LLC. Many business owners choose to register as an LLC because there are fewer filing requirements and looser organization regulations. The LLC Operating Agreement is like the Articles of Incorporation for C Corps and requires state registration through the Secretary of State office. Likewise, you should create an Operating Agreement for your new LLC, which outlines the members’ duties, responsibilities, and organization of the company. Not all states require LLCs to file the Operating agreement.
For tax benefits or other reasons, some business owners decide to incorporate in a different state than where they conduct business. In those cases, the business owner must “foreign qualify” in the state where the business is conducted. To file for foreign qualification, a business must submit a Certificate of Authority application form and pay the fees to the Secretary of State office.
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Even if you are incorporated in your home state, if you want to expand your growing business to other states, you’ll need to file for foreign qualification.
An Apostille is an additional authentication/certification required for international acceptance of documents, including Articles of Incorporation and Articles of Organization. If a foreign country requires official state documents, the completed Apostille certifies the signature’s authenticity on the documents. You can apply for an Apostille through the Secretary of State office or through .
Depending on your business’s industry, you will most likely need specific business permits to conduct business. At the very least, you will need a business license from your city or county government. Specialty licenses are required for professional and niche businesses that require specific skills to operate, such as hair and nail salons, accountants, attorneys, plumbers, and daycare.
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Most required licenses and permits are issued by the city, county, or state where your business is located. You will most likely need permits for security alarms, parking lots, sidewalk cafes, entertainment, and more. If your business is regulated by a federal agency (such as alcohol or tobacco), you’ll need to apply for a federal license or permit.
Businesses selling products and services subject to sales taxes need a sales tax license from the state tax authority office in all the states where they conduct sales. Companies that sell on a wholesale basis need a reseller license (resale certificate).
Businesses operating as a sole proprietorship don’t need a Federal Tax ID number if they don’t have any employees; they simply use the owner’s social security number on all legal documents. However, if your business is a Corporation, Limited Liability Company, or a partnership, you must apply and obtain a Federal Tax ID number or Employer Identification Number (EIN) through the IRS.
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It’s vital to protect your business assets when starting a new business. Your trademark is one of those assets you want to officially own so it can’t be stolen from you. What is a trademark? A trademark is any word, name, symbol, or device, or any combination of those used in commerce to identify and distinguish a business’s goods. Without the protection of a federally registered trademark, your brand can be stolen, or your business could be at risk of infringing on another company’s registered trademark.
Nellie Akalp is an entrepreneur, small business expert, speaker, and mother of four amazing kids. As CEO of , she has helped more than half a million entrepreneurs launch their businesses. Akalp is nationally recognized as one of the most prominent experts on small business legal matters, contributing frequently to outlets like Entrepreneur, Forbes, Huffington Post, Mashable, and Fox Small Business. A passionate entrepreneur herself, Akalp is committed to helping others take the reigns and dive into small business ownership. Through her public speaking, media appearances, and frequent blogging, she has developed a strong following within the small business community and has been honored as a Small Business Influencer Champion three years in a row.
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Whether you’re a sole proprietor and your company’s only employee, or a corporation with 40 employees, you are responsible for collecting and paying employment taxes to federal and state tax agencies. However, while federal payroll taxes are the same no matter where...Document preparation businesses provide business and personal customers with a range of services, including preparation of business and legal documents, word processing, editing, proofreading and desktop publishing, according to research firm IBISWorld. To start a business, you need the skills and equipment for desktop
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