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Date of this Version

9-27-2019

Document Type

Book Chapters

Summary

  • Startups are often built with a small team of talented and highly motivated individuals who are passionate about the company.

  • The environment of a startup is often demanding, with time-sensitive projects and limited resources.

  • The three common types of business entities for a startup are an LLC, an S corp, and a C corp, and each offers its own advantages based on the startup’s trajectory and goals for growth.

  • Delaware’s corporate laws and statutes are pro-business, and many companies choose to incorporate in Delaware.

  • State law requires that corporations hold shareholder and board of directors meetings to vote on crucial company decisions and document them officially in meeting minutes.

  • Seeking counsel from a tax advisor and a legal advisor early on can potentially contribute to a startup’s financial prospects both in the short and the long term.

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

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