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Chester/Associates, PLLCBusiness - Trademark - International
Legal Issues forBusiness Start-Ups
Jim ChesterJim ChesterJD, LL.M, CHB, CCS
Chester/Associates, PLLCDallas, Texas
Presented by:
March 28, 2008
Chester/Associates, PLLCBusiness - Trademark - International
2
Four Key Legal Topics to Address1. Address Legal Restrictions/Limits2. Select Entity Type3. Protect Intellectual Capital4. Develop Basic Legal Documents
Start-Up is a Vital Time to Consider Legal IssuesStart-Up is a Vital Time to Consider Legal Issues
March 28, 2008
Chester/Associates, PLLCBusiness - Trademark - International
3
Address Legal Restrictions/LimitsAddress Legal Restrictions/LimitsGovernment/Regulatory
- Permits- Zoning- Licenses
Private- Non-compete Agreements
March 28, 2008
Chester/Associates, PLLCBusiness - Trademark - International
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Sole-Proprietorship
Pros - Easy/cheap to start
Tax advantages
Management flexibility
Cons - No limit of liability
Lack of continuity/transferability
Limits ability to raise capital
NOTE: Must register a d/b/a (assumed name) if not using yourlegal name
Select Entity TypeSelect Entity Type
March 28, 2008
Chester/Associates, PLLCBusiness - Trademark - International
5
General Partnership
Pros - Easy/cheap to start
Tax advantages
Management flexibility
Cons - No limit of liability (for partner, too)
Lack of continuity/transferability
Limits ability to raise capital
NOTE: Must register a d/b/a (assumed name) if not using yourlegal name
Select Entity TypeSelect Entity Type
March 28, 2008
Chester/Associates, PLLCBusiness - Trademark - International
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Limited Liability Company
Pros - Limited Liability
Some tax advantages
Continuity/transferability
Greater ability to raise capital
Management flexibility
Cons - Some formality/expense required
Subject to Texas Margin tax
Select Entity TypeSelect Entity Type
March 28, 2008
Chester/Associates, PLLCBusiness - Trademark - International
7
Corporation
Pros - Limited Liability
Continuity/transferability
Greater ability to raise capital
Cons - More formality/expense required
Subject to Texas Margin tax
Management flexibility more limited
Tax advantages require additional filings
Select Entity TypeSelect Entity Type
March 28, 2008
Chester/Associates, PLLCBusiness - Trademark - International
8
Intellectual Property (IP) Includes:Trademarks / Trade Names / Trade Dress
- Searches & RegistrationCopyrights
- Searches & RegistrationPatents
- Registration RequiredTrade Secrets
- No Registration Required- Non-Disclosure/Non-Competes
Protect Intellectual CapitalProtect Intellectual Capital
March 28, 2008
Chester/Associates, PLLCBusiness - Trademark - International
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Common Forms You May Need:- Purchase/Services Agreement- Terms & Conditions- Employment/IC Agreements- IP-related agreements- Employment Manual
Develop Basic Legal DocumentsDevelop Basic Legal Documents
March 28, 2008
Chester/Associates, PLLCBusiness - Trademark - International
10
Start-ups must budget for legal expenses
Failure to adequately address legal issuesinitially can cause significant problemslater.
ConclusionConclusion
March 28, 2008
Chester/Associates, PLLCBusiness - Trademark - International
11
Questions?Questions?Email [email protected]
Direct 214.800.2845
Toll Free 1.877.34.World
Chester/Associates, PLLC6060 NCX, Suite 560Dallas, Texas 75206
www.tradelawfirm.com