I Just Filed the Certificate of Incorporation . . . Is My Business Ready to Go?

Not quite. Filing the Certificate of Incorporation is the first of several steps towards setting up and running a legitimate business corporation. In a previous blog post, I discussed the basics of avoiding personal liability when it comes to running an LLC or corporation. What follows after filing the certificate of incorporation, helps to protect against exposing yourself to liability and lays the foundation for a successful venture, should you decide to start your own business. For the purposes of this post, I'll cover the basics of what comes after you file the initial organizing documentation for your corporation.

How to Avoid Personal Liability When Running an LLC or Corporation?

In order to discuss this topic, it's important to gain a basic understanding of the legal concept of "piercing the corporate veil." What this means is that in certain circumstances, when properly invoked, a court may "pierce the veil" of a corporate entity and hold the owners personally liable for the obligations of their corporation or LLC. It allows for a corporation's separate legal existence to be disregarded in order to prevent fraud and achieve fairness. This doctrine is often invoked by a third-party seeking to circumvent the limited liability that is afforded to owners and hold them liable for corporate obligations.

Started an Etsy Business? Here's How to Make it Legitimate.

So, you’ve started a business on Etsy. Whether you’re creating screen printed shirts, custom leather goods, pottery or furniture, you made the decision to bring your talent, skills and keen eye for design to the masses and sell your products online. Congratulations! Etsy is a great place for those that are looking to turn a hobby into a money making opportunity or grow a business that has quickly jumped out of the idea phase and into reality. If you’ve ever had the thought, “what do I need to do to make this Etsy business legitimate,” this post is for you.

Does My LLC Need An Operating Agreement?

Plain and simple . . . the New York Limited Liability Company Law requires at a minimum, that all LLCs adopt an operating agreement within 90 days of filing their articles of organization. However, despite this requirement, many LLCs operate on a daily basis without an agreement. While the NY LLC law is strict in its requirements, it is not explicit as to whether a business faces any fines or other consequences for failure to adopt an operating agreement. Given the lax enforcement of these provisions, businesses continue to run without fulfilling this simple requirement.

Do I Need An LLC to Start My Business?

So you’ve made the decision to start your own business. Congratulations! For many people, this major life decision often comes with more questions than answers. One question that I hear regularly is, “my friend recently started a new business and she registered as an LLC, do I need an LLC to start my business?”

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