Tuscaloosa Startup Attorneys & Lawyers

You’ve decided to start your own business in Ohio. Get your business off to a good start by taking the steps you need to form and operate a legal business entity in Ohio.

Why create an LLC in Ohio?

Many small business owners form a limited liability corporation, or LLC, when starting a new business. Creating a business entity helps ensure you are not personally responsible for paying business-related debts. For example, if someone slips and falls on the sidewalk outside your shop, that person may sue for damages. If you have not created a formal company, you might need to pay damages with personal, not business-related, funds.

Likewise, if your business runs into trouble and ra

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What Does a Limited Liability Mean?

Limited liability refers to liability that does not surpass the amount of money invested in a limited liability company or partnership. One of the main advantages of investing in a publicly listed company is the limited liability feature. A shareholder is capable of participating entirely in a company's growth with liability limited to the amount he or she has invested in the company. This is true even if the company goes bankrupt and possesses debt obligations.

If an individual or company is functioning under limited liability, this means that it is not possible to seize the assets of the associated individuals to deal with the debt obligations of a company. Any funds invested with the company directly are viewed as company assets. In the event of insolvency, only these assets can be seized.

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Form a Nevada LLC: Everything You Need to Know

To form an LLC in Nevada, you must first choose an appropriate name for your business. Your name must have the words "Limited-Liability Company," "Limited Company," "Limited Liability Company" or "Limited". You could also use an abbreviation instead, such as "Ltd.," "L.L.C.," "LLC," or "LC". Company can also be abbreviated as Co.

Make Sure Your Name is Available

The name of your LLC must be different from any other business in the State of Nevada. To find out if your name is available for use, check with the Nevada Secretary of State Online Database. Once you find a name you can use, you can file the Name Reservation Request Form with the Secretary of State. You can do this by mail, or on the Nevada Secretary of State's website. The fee to file to r

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What Is a Non-Disclosure Agreement?

A non-disclosure agreement (NDA) is a legal contract that keeps one party from revealing another party's secrets. An NDA makes a confidential relationship between the parties, are used to protect proprietary or secret information, typically in business relationships. NDAs get more complicated the more information they need to cover, though they can start very simply. NDAs are especially popular in tech fields.

Other names include the following:

• Nondisclosure.
• Confidentiality Agreement.
• Non-Disclosure Form.
• Confidentiality Clause.
• Confidentiality Statement.

Sample NDAs for Download

Non-Disclosure Agreement

One-Way Non-Disclosure Agreement

NDAs are use

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What Is a Clawback Clause?

A clawback clause gives investors of a brand-new company a chance to reclaim money or stock options already given to a partner or employee. Clawback clauses may also be found in the limited partnership agreements of private equity or venture capital funds.

If general partners or employees of a startup have signed a contract that includes a clawback clause, they could be forced to pay back some of their salary, benefits, and options in certain situations. This type of clause can protect limited partners or investors, letting them take back payments and equity if an employee or partner doesn't meet contractual obligations.

Why Is a Clawback Clause Impo

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