Starting your own business or purchasing an established business in Colorado is an exciting endeavor, but it can also be an overwhelming one. For example, while you may have a grand vision in sight for your new business, it is necessary to ensure that all legal formalities are met — something many people do not have much experience with.
For example, business owners need to decide what type of entity their business will be. Will it be a sole proprietorship, a limited liability company or a corporation? Each of these businesses entities have their own rules with regards with what legalities need to be followed when forming the business. In addition, business owners will be interested in ways they can be protected personally from the debts and liabilities of the business. Many businesses utilize contracts in their day-to-day operations, so contract disputes can arise. Finally, business owners may want to consider if there is a way to organize their enterprise so that forms of alternative dispute resolution must first be tried before a case involving the business can go to court.
These are just some of the many questions entrepreneurs may have when they are looking at forming a business. And, for some people, these are difficult questions to answer. They want to make the right decision, but may not know what would be in their best interests. This is when having the assistance of an attorney can be beneficial.
At Virtual General Counsel LLC, we assist all business types in the Denver area, from startups to complex businesses. We provide our clients with the guidance they need as entrepreneurs. Attorney Cross has firsthand knowledge about business operations and ownership, which can help ensure that essential issues are not overlooked. For more information on business formation in Colorado, please take a look at our business formation website. It is important that you take the time to fully understand this endeavor, protecting yourself and your future business along the way.