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Entity Selection, a Goldie Locks Story

There a probably a million blogs/articles written on entity selection so I will try to keep this light and get straight to the point. You and entity selection are a bit like Goldie Locks, too hot, too cold, just right! The different entity types of business can be formed under each have pros and cons. Like Goldie Locks, its about finding the right one for you, which can be a challenge. Depending on your needs each entity type has value, and that is what this article will discuss. Hopefully you will find this useful in helping your Goldie Locks (business) the right fit, or at least help you identify things to keep in mind during the selection process.

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When Should a Startup Form an Entity?

Forming a legal entity is not always an immediate consideration for start-ups. In some cases, founders may choose to delay formalizing their relationship to ensure that other important business details are first put in place. At a certain point, the founders begin to think about when they must formalize their agreement and form a legal entity. Ask the following questions to assess whether the time has come to form a company for your start-up:

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Does My Startup Need a Privacy Policy?

A privacy policy is not always legally required, but often a good idea for most startups - from tech company to service business and everything in between. To know whether your startup is legally required to have a privacy policy ask the following three questions:

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5 Things to Know when Preparing for the Minneapolis Sick Time Ordinance

Many developments have happened legislatively and legally since Minneapolis and St. Paul approved ordinances mandating paid time off for employees in 2016. A lawsuit was filed, an injunction issued, appeal pending, and a preemption bill is now progressing through the legislative process. Although any one of these events could change the course of the ordinance, companies should still be thinking about how to comply with the laws should they become effective on July 1, 2017. 

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False Claims Act Liability for Dentists

When most dentists think about ways that legal liability can arise, usually it involves malpractice law suits. This mindset is technically correct; however, it is not a complete picture. There are other ways in which legal liability can arise. Among the possibilities is the False Claims Act (FCA). The FCA, 31 U.S.C.A. § 3729, prohibits the submission of false claims to the federal government. Liability under the FCA can take many forms and in some situations, can be triggered by the actions of dental support staff.

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Benefit Corporation: Happy Balance Between Investors and Social Objectives?

Many start-ups begin because the founders want to make a difference. This social benefit often makes a non-profit seem like an appealing path. At the same time, many founders become disheartened when they find it difficult to raise capital when their venture is entirely focused on a social mission. It doesn’t have to be a matter of choosing between revenue generation or strict adherence to a mission.

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What Business Owners Can Expect from the 2017 Legislative Session

The regular session of the Minnesota Legislative starts January 9, 2017. The election resulted in many new faces on capitol hill. There has been considerable discussion since that time about people’s plans. Now is the time that action may occur. The question remains what will happen? And, more importantly, what will be the impacts on small businesses?

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How Our Advisory Board Services Work

Many start-ups face similar challenges. Founders find themselves wearing many hats in the early stages and may not be able to fill all of those needs alone. The options to obtain help or guidance typically come with an unaffordable price tag or a loss of equity. As entrepreneurs, the Loop Legal attorneys established a better option. Here is how our advisory board services work:

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3 Keys to Building the Right Advisory Board

Start-ups are built on passion. Entrepreneurs work to build that vision into reality. At the same time, there are many hats to wear and that can sometimes be difficult to juggle. Building an advisory board is one way to navigate this challenge. Think about the following three things when considering whether building out an advisory board is right for your start-up:

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How to Prepare for a Successful 2017

The end of the year is approaching and the time to prepare for a successful 2017 will rapidly disappear. Beyond holiday parties, this is a great time of year for companies to take stock and address any challenge areas. Here are 4 things every company can do to lay the foundation for a strong 2017:

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