A business can stay stagnant or it can grow. Staying stagnant is easy – growing is hard but well worth the effort.
Facebook and Amazon were both successful well before they became publicly owned companies, but even before they went public, their owners knew that the businesses needed to grow to improve.
With growth comes a whole new set of issues that you probably have not faced before, some which are legal issues. If you want to grow your business, you should ask the following questions:
- Is the legal entity in which my business operates the correct entity for its growth and if not, what entity should it be?
- What additional legal entities do I need to form and how should they be owned?
- Do key employees need to be offered ownership in the business and if so, how do I accomplish that while retaining the current value of the business as well as maintaining control of my business?
- Should additional equipment and/or real estate be acquired for growth by my existing business or in a new/different entity?
- Will I be doing business in more than one state?
- Will my business require additional capital and if so, should it be in the form of cash I contribute, cash I lend it or cash I borrow from a third-party lender such as a bank?
- Will I need to bring in additional partners/owners to my business and if so, how should their ownership be structured?
- Does my business’ existing lender (e.g., the bank) need to be involved?
- What protections do I need to prevent my employees from competing with my business or soliciting my clients/customers?
If you would like assistance in answering these and other questions you have, give The Kaiser Law Firm, P.C. a call at 314-966-7766.