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If opportunity doesn't knock, build a door.
- Milton Berle
There is nothing more exciting, and scary, than starting your own business. We know ... we've been there! Not only that, because we're also Internet Lawyers, we thinking about your business in a different way - a proactive way - that other traditional business counselors or "DIY" online form companies may not.
Below are a list of things that you should be considering before you even form your entity:
- Is the business name I want to use going to infringe upon anyone else's trademark locally or nationally?
- Is the business name that I want to use subject to a negative online reputation locally, nationally, or internationally?
- Is any Internet domain that I'd like to use in connection with my new business going to infringe on anyone else's trademark locally or nationally?
- Is the Internet domain that I'd like to use in connection with my new business subject to any trademarks locally, nationally, or internationally or is it otherwise subject to negative online reputation issues locally, nationally, or internationally?
- Am I willing to use my personal contact information for public records (because everything placed in the documents for entity formation will be available to the general public) or will I set up for "business" use a:
- telephone number
- email address
- physical address (like a UPS Store personal mail box)
- mailing address (if different than physical or perhaps a USPS post office box)
- What will be the contact information for your business?
- telephone number
- email address(es)
- physical address
- mailing address (if different than physical)
Once you've considered and addressed the above points (and if you haven't, don't worry, we can discuss all of that with you, and even do the research for you where applicable) and settled on a business name, then you want to consider the information necessary to complete the LLC Formation process. These include the following points:
- Have you been operating under a registered DBA or Trade Name? Registration is typically done through the Arizona Secretary of State.
- What is the character of your business, i.e., what is its purpose? What service(s) or good(s) will it offer?
- How many members will be in the LLC?
- Who are the members?
- Do you want it to be "Member Managed" or "Manager Managed"? There are implications with this, so it's important to discuss with your attorney. While not formally part of the LLC formation process, you should also think about your formal Operating Agreement, even if you are forming a single-member LLC, but especially if there are going to be more than one Member. You don't want to leave it up to the state's default rules to apply in the event of a dispute, death, etc.
- Who will be the Statutory Agent for the LLC? The Statutory Agent is the person or entity can be physically served with legal process on behalf of the company. Whoever this is, their physical address will be listed in public records. This could be one of the LLC members, an attorney willing to serve, or a professional Statutory Agent service company that you pay a yearly fee to.
If you're ready to discuss the LLC Formation process, and take a proactive approach to protecting your business and brand from the start, contact us!
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