The founding of your business in Houston, Texas, provides dozens of choices that determine its future. Analyzing each one to determine if it meets your goals for your company is a time-consuming undertaking. At The Jackson Law Firm, we regularly answer the legal questions of entrepreneurs as they set out into the business world.
Forbes points out that there are several issues that could lead to business litigation if you do not handle them properly at the outset. Intellectual property protection is one of these. Having developed a product or service, you naturally want to prevent others from stealing it, and to avoid the appearance of theft, yourself. Service marks, trademarks, copyrights and patents are all vehicles that serve this purpose. When your employees have access to information that must be protected, confidentiality agreements ensure that they are legally bound to keep your company secrets private.
The organization of your startup will have significant effects on the taxes you will pay. For example, as one founder of a general partnership, you would pay your portion of the income tax based on the proportion of your ownership. Opt to form a limited liability company or an S corporation rather than a C corporation and your taxes may be less onerous. If you do not meet your company’s tax obligations by filing the correct forms and providing accurate and thorough documentation, you could find yourself facing serious legal issues with the federal government.
To learn more about this topic, visit our page that discusses the many issues that may accompany business decisions.