Plano Startup Lawyers
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Legal Services Offered by Our On-Demand Plano Startup Attorneys
On UpCounsel, you can find and connect with top-rated Plano startup attorneys & lawyers that provide a range of startup law services for startups and entrepreneurs that are starting a business. Any of the top-rated Plano startup lawyers you connect with will be available to help with a variety of your startup law related legal needs on-demand or on an ongoing basis in the city of Plano, TX.
From primarily dealing with things like business formation, contracts, leases, equity financing, securities, and intellectual property protection, the Plano startup lawyers on UpCounsel can help you with a variety of specialized and general startup law related legal matters. No matter what type of startup law needs you have, you can easily hire an experienced Plano startup lawyer on UpCounsel to help you today.
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- 5 min read
Business Structure Basics
When you start a business, one of the first decisions you should make is how to structure your business.
Before making the decision, you will need to consider both the legal and tax consequences of each business structure. In other words, each business structure will dictate what you owe in taxes and what your exposure for liability could be. The business structure you select will also determine what tax forms will be required annually.
Types of Business Structures
Sole Proprietorships: The simplest structure, where one person runs their business, which has not been incorporated in any manner under state laws. You can file the business taxes when you do your personal income taxes. However, you are fully liable for the actions of your business - even your personal assets. That is because this stru
- 4 min read
What Is Paid-In Capital?
Paid-in capital (PIC) is the amount of capital investors have "paid in" to a corporation by purchasing shares in exchange for equity.
A paid-in capital account does not show the individual contributions of each investor, just the total amount provided by all investors.
The primary market is the part of the capital market that issues new securities. It is through the primary market that people invest in a corporation by purchasing stock, raising the corporation's PIC figure.
Stock purchased in the open market from other stockholders (secondary market) does not affect paid-in capital.
Additional Paid-In Capital
Paid-in capital can also refer to a balance sheet entry, often listed under stockholder's equity. Additional paid-in capital (APIC) is also known as capital surplus or share premium. These entrie
- 8 min read
What Is a Business Type?
A business type is a company's legal structure. Most businesses are one of the following:
- Sole Proprietorships
- General Partnerships
- Limited Partnerships
- Limited Liability Partnerships
- Limited Liability Companies
- S Corporations
- C Corporations
- Nonprofit Organizations
Types of Businesses: What Are They?
Also known as a business form, a business type determines a company's internal organization, types of officers, legal organization, tax strategy potential for shareholders, and level of personal liability. These are the most common business types:
Sole proprietorships are just one individual, and they don't require licenses, paperwork, or fees to set up. The owner is
- 5 min read
A nonprofit organization is an entity formed to meet a specific tax-exempt purpose aimed at benefiting the public, a specific group of individuals or the membership of the nonprofit. Nonprofit organizations are prohibited from generating revenue, but instead excess revenues are put back into the operation of the organization – they are not disseminated to owners or investors.
Many of the most familiar nonprofit organizations are 501(c)(3) charitable organizations.
Mission and Tax-Exempt Status
Nonprofits are normally organized around social causes or to serve the public good in ways that government agencies cannot. The mission statements of nonprofits are often tied to specific goals in areas like public welfare, public safety, religion, science, education, art, environmental protection or aid for the less fortunate. A nonprofit may also be created to further non-charitable pursuits like sports or hobbies.
What are Startup Costs?
Startup costs are (1) the expenses a business incurs before it is actually operating plus (2) the cash the business will need to pay its recurring operating expenses during the post-launch period when it is generating insufficient cash flow to cover those payables.
A Good Business Plan Is Crucial
The founders of a new business should devote significant time and effort to the preparation of detailed business plan so that the startup costs are not underestimated. A miscalculation in this area can have a variety of bad consequences:
A delayed store opening or product launch
Last minute borrowing for startup expenses and working capital at high interest rates