Starting a LLC - Key Points?

mentaomentao subscriber Posts: 3
edited December 2015 in Grab Bag
This is the first time opening up my own business. What are some key points I should keep in mind when creating a LLC? Does this automatically trademark my company name? Thanks in advance!
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Comments

  • pepperlegalpepperlegal subscriber Posts: 2 Member
    I`m not sure what key points to which you`re referring, but establishing a fictitious name through the creation of an LLC does NOT automatically trademark your company name.  Trademark rights arise from actual use of the name in commerce.  Also, obtaining a fictitious name does not mean you are not potentially infringing another party`s trademark.  Depending upon the business name, it may make sense to have a trademark search conducted for you to determine if there is a likelihood of infringement by using the business name.
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  • mentaomentao subscriber Posts: 3
    What I mean by `Key Points` is that if there is anything else I should take into consideration when forming an LLC. For example, trademarks of the company name, etc... I`m doing all this on my own so any advice would be appreciated.
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  • pepperlegalpepperlegal subscriber Posts: 2 Member
    Well, there are numerous considerations.  To name a few:Tax consequences (including the requirement to estimate and pay your taxes quarterly as an LLC, with no such requirement as a corporation, in most cases)The ability to add owners to your business in the futureThe ease in which to obtain investment capitalDivision of management and ownershipTransferability of ownership interestsThe Small Business Administration website at www.sba.gov has some good information about many of these considerations, but it`s really no substitute for good legal advice.
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  • patentandtrademarkpatentandtrademark subscriber Posts: 103
    Find an intellectual property attorney that you like and trust.  It will pay off in the long run.
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  • patentandtrademarkpatentandtrademark subscriber Posts: 103
    if cost is an issue, do it yourself.  of course, this is often the most costly option in the long run when a mistake is made, but it will save some money now.  unfortunately, some believe that forming an entity or creating intellectual property is pretty much "filling out a form."  you can hire a lawyer now or later.
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  • cwalkcwalk subscriber Posts: 0
    We have formed an LLC and in addition to the Board who are investor/owners we have awarded some equity to two additional employees, who are not members of the Board. Does the Board have a responsibility to furnish the Board`s agenda, and or minutes of Board meetings to these small equity owners?
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  • passion09passion09 subscriber Posts: 0

    Hi mentao,


    This is the check list for your New LLC.



     

    1)Decide on a business name for your Limited Liability Company


    2)Search availability of your LLC`s chosen business name, and for similarity to existing names.


    3)Register your LLC name


    4)Create and sign an LLC Operating Agreement.


    5)Write your LLC`s Articles of Organization


    6)File your LLC`s Articles of Organization with the Secretary of State office in your state.


    7)Obtain business licenses and permits for your LLC from:



    The federal government.


    Your state government.


    Your local government.



    Forming a limited liability company (LLC) can be a long-term benefit to your new business in the long run, but the process can be complicated. To ensure that your new business complies with your state`s legal requirements at all steps in the LLC formation process, you may wish to consult an experienced business attorney.

    good luck..
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  • jasonburtonjasonburton subscriber Posts: 0 Member
    You can also see Alexandra Watkins or join http://eatmywords.com/services/workshops/ a workshop about branding, business naming and trademarking.
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