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- 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.
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Cai, Jenny and Doranz, Ben
"Startup Company Formation and Management,"
Academic Entrepreneurship for Medical and Health Scientists: Vol. 1
, Article 10.
Available at: https://repository.upenn.edu/ace/vol1/iss2/10