Module 3 preparation of business plan

Legal Forms for Small Business

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Legal Forms for Small Business
Using legal forms for small business is a quick and easy way to deal with the legal requirements of business ownership. But you’ll need to apply discernment to make sure your documents have what it takes to survive in the real world.
Although legal counsel is always a good idea, it may not be practical to have your lawyer draft every single form your company requires for normal business operations.
Legal form providers have sprung up to fill small business owner’s need for sound legal documents. With so many legal form products on the market, the challenge is to identify the ones that meet your company’s business requirements and fully comply with the federal, state and local laws.
It’s also important to understand the manner in which the provider will deliver your forms. Some companies offer inexpensive boilerplate documents while others collect information and prepare the documents for you. If small business legal forms are on your horizon,
Here are few of the products you’ll have no trouble finding in the marketplace.
Incorporation. Incorporation forms can be complicated and can have significant consequences, so it’s always advisable to have an attorney review your forms before you file them. But legal form providers can help you save money by providing standard incorporation form templates that can be completed and then later reviewed by your attorney.
LLCs. An LLC is somewhat easier to establish than a corporation, making hem fertile ground for LLC form templates. Evaluate each LLC form product carefully to make sure it include coverage for a custom operating agreement with provisions that safeguard your personal assets against liability.
DBAs. DBA (“Doing Business As”) documentation is required if you operate your company under a name that is not your legal name or differs from the business name you have submitted to the state. The filling process is simple and legal forms can make it even easier with providers who will file DBA forms for you.

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