View The Full Guide On Perplexity
TLDR:
Business Structures:
Sole Proprietorship: Easy setup, full control, but no liability protection; business and personal assets are not separate.
Partnership: Shared responsibilities, similar to sole proprietorship but involves two or more people.
LLC: Offers liability protection, flexibility in taxes, and less regulatory complexity than corporations.
Corporation: Provides maximum liability protection, but with stricter regulations and double taxation (for C corporations).
Essential Contracts: Draft clear employment, vendor, and client contracts using tools like LawDepot.
Intellectual Property: Protect your brand with trademarks, patents, copyrights, and trade secrets.
Legal Steps: Consult attorneys, stay updated on laws, and document properly.