There are many types of businesses, but if you own a lifestyle business like a boutique fitness studio, a family-run restaurant, or an online coaching service you should consider setting up your company as an S Corp. This can help you save on taxes, allowing you to keep more of your hard-earned income. Making the right choice now can make a big difference in your business’s financial health down the road.
S Corps limit growth with restrictions on shareholder citizenship, stock classes, and investor count. If you’re raising venture capital, choose a structure that supports flexibility and scale don’t risk turning away investors.
Don’t let the majority member change your operating agreement without your consent! As a minority investor or partner, this protection can save you time and headaches, ensuring your interests are safeguarded.
Avoid these costly missteps:
Issuing Certificated Shares
Using a Corporate Seal
Appointing Unnecessary Officers
Why it matters:
Improperly authorized actions can delay fundraising or acquisitions and cost thousands to fix. Clean governance now avoids expensive cleanup later.
I raised over $500K for my former sustainable meat company that was distributed in Fortune 500 grocers. Get the legal advice you need to increase your business capital.
On May 7, 2024, the Federal Trade Commission (FTC) published a final rule that effectively bans all non-compete agreements between employers and “workers” as “unfair method[s] of competition.” This rule, set to take effect in September, requires employers to refrain from enforcing most existing non-compete agreements. Currently, 30 million people are bound by these non-competes.
Ever wondered about the difference between letters of intent (LOI) and term sheets? Let’s break it down: one sets the stage, while the other seals the deal. As your legal ally, I’ll guide you through each step of the process, ensuring clarity and confidence in your business negotiations. Let’s embark on this journey together!
Trying to dodge those pesky taxes and fees for your business? Don’t fall for the Delaware incorporation trap! Incorporate in your own state to save your hard-earned cash. Let’s chat about your business formation plan.
Term sheets are essential agreements that detail the core commercial terms of the deal, such as price, interest rate, closing date, and others terms that serve as the foundation for future successful deals. Check out this video to learn why I advise my clients at Faison Law Group to create term sheets that streamline negotiations and ensure favorable outcomes!
