Ultra Light Startups presented a Legal Roundtable discussion Tuesday night led by three attorneys who advise entrepreneurs. Alison Anthoine, Stephen Chin and Jonathan Freedman spoke to the group about the legal ins and outs of getting a new company off the ground.
The questions came at them fast and furiously from all corners of the room with topics ranging from how to incorporate, patent issues and dealing with state tax regulations.
Alison Anthoine began with the whys, when and how to incorporate a new company. She suggested that for new solo business people, securing a “Doing Business As” or (DBA) may be the way to go.
This involves registering your business name so one can open a bank account under that company’s name. However, she emphasized that the DBA extends no liability protection at all.
Jonathan Freedman says if you go into business with a partner or add a partner, then it’s a good idea to become registered as a limited liability company (LLC) or limited liability partnership (LLP).
Freedman went on to talk about different strategies to endure a very difficult economy including creative ways to produce alternative revenue streams.
Stephen Chin capped off the evening covering trademarks, copyrights and patents. Chin acknowledged that there are hardships in trying to obtain these intellectual property rights, but he says they can definitely pay dividends in the future.
Each attorney says there is a great deal of useful information on the web to help entrepreneurs navigate this difficult process. Freedman says one site in particular, mycorporation.com, can be a great aid in helping one decide whether or not a lawyer is needed in the set-up process.
