Common Legal Issues
- A Primer from the Indiana Secretary of State on starting a business in Indiana.
- Indiana Secretary of State has a section about “Starting a business in Indiana”. This has specific requirements for Indiana businesses.
- Tax I.D. In many cases a business owner will need to get a federal tax ID for the business rather than using his/her own personal social security number. To get a federal tax ID number visit this IRS web site.
- Every successful entrepreneur knows that the law can be a powerful ally or a keep-you-up-at-night threat. We’ll help you make sure that the law works for you and your business, with these 7 simple practices to legally bulletproof organizations.
- SBA-Choose Your Business Structure--The business structure you choose will have legal and tax implications. Learn about the different types of business structures and find the one best suited for your business.
- How to Really Structure Your Own Business” A booklet available through your local SCORE Office.
- SCORE FAQ’s--How do I determine the best legal structure for my business entity, what are the pro’s and con’s, tax liability implications, costs both short and long term and how is it accomplished?
- Free tutorial for, “Determining Your Business Legal Structure”
- Incorporate.com: This web site has extensive and useful information that is helpful in understanding and selecting the best structure to use in your business
- Before Selecting a Name for your new company, check to see if the company name is available in Indiana. This site will also allow you to “claim” an unused business name:
- Independent contractor or employee?-- This IRS web page explains the rules for making a determination.
Copyrights, trademarks & Patents
- This U.S. Patent and Trademark Office web page offers comprehensive information about this subject.
- Patents and Copyrights: A tutorial via blog.
- This Free Online Workshop explains protection of intellectual property
Licenses and Permits
- Licenses and Permits: Your new business will also be regulated by city and county regulations. The Growth Alliance for Greater Evansville (GAGE) offers a booklet that covers nearly all these requirements for the city of Evansville. Regulations for Vanderburgh and surrounding counties and the City of Newburgh will generally be less stringent than the City of Evansville. Any General Contractor or Sub-Contractor business will have additional requirements. This document provides Evansville contractor requirements by type of contractor.
- State and Federal Requirements
- An Operating Agreement is one of the most important documents used by LLCs because it structures the business' financial and functional decisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners. Once the document is signed by the members, it acts as an official contract binding them to its terms.
- Create an Operating Agreement. Most states do not require operating agreements. However, an operating agreement is highly recommended for multi-member LLCs because it structures your LLC's finances and organization, and provides rules and regulations for smooth operation. The operating agreement usually includes percentage of interests, allocation of profits and losses, member's rights and responsibilities and other provisions.