Boise Startup Attorneys & Lawyers

What Are Corporation Pros and Cons?

Weighing corporation pros and cons is important when you start a business; deciding whether to incorporate is a big choice. Both have their advantages and disadvantage. Creating a corporation might prevent you from personal liability, while not incorporating might protect you from double taxation. Because of the impact on your business and personal life, it's important to weigh the pros and cons of forming a corporation.

Why Are Weighing Corporation Pros and Cons Important?

Weighing the pros and cons of starting a corporation are important because you aren't required to form a corporation when you start your business. Other

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Key Takeaways

• The Delaware LLC Act offers unmatched flexibility in governance, ownership, and structuring.
• Delaware LLCs are governed primarily by their operating agreements, not statutory default rules.
• The Act allows LLCs to customize fiduciary duties, management authority, and information rights.
• Series LLCs can provide asset protection and administrative efficiency.
• Information rights of members and managers can be limited or defined clearly in the operating agreement.

The Delaware LLC Act governs the limited liability company structure in Delaware. The structure is essentially a hybrid of the best features of both corporations and partnerships and the owners are called “members.” If you incorporate under the Delaware LLC Act, you do not need to have an operating agreement, though you may have an agreement that g

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Accelerator Programs: What Are They?

Accelerator programs, also known as seed accelerators, help companies learn how to run their business by providing mentoring, education, and financing. Mentors are provided to help entrepreneurs navigate the competitive and sometimes confusing start-up world and may even help with funding. The programs usually last for relatively short period of time (e.g., a few months) where the aim is to teach the participant several years’ worth of experiences and information in order to accelerate the timeline for success. The program typically ends with a public pitch event where business owners can present their ideas to potential investors. Accelerators generally ask for a small piece of the company in return.

Accelerators are similar to business incubators with some distinctions -- for example, incubators generally focus on growing an idea while accelerators generally

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