Starting a business is a way to take an idea you are passionate about and turn it into something real, something much more than just a job. Making your dream a reality will take hard work on your part plus some help from other people. A good attorney can be indispensable in this regard.

Before you sit down with your attorney for the first time, it’s a good idea to prepare a list of topics you want to discuss. This initial meeting is an opportunity for you to articulate your vision of the new enterprise and to lay out your priorities and concerns. Based on our experience as Connecticut business lawyers, these are among the usual topics to be covered:

• A general overview of the business — Give your lawyer a summary of what your company will do. What product(s) or service(s) will you deliver? Explain in detail the personnel, equipment and facilities you may need.
• What legal entity to choose — Connecticut business can operate as partnerships, sole proprietorships, LLCs, LLPs, S corporations or C corporations. Ask your attorney to explain the benefits and drawbacks of the different options, including how they can protect your personal assets from business creditors.
• Choosing a name — There is a specific legal process for naming and registering a company. Searches will need to be performed to ensure your desired name doesn’t infringe on anyone else’s copyrights or trademarks.
• Company control and profit sharing — If you will have multiple owners or partners, you will need to define their various levels of authority and their rights to profits and other compensation. Everything needs to be written down in a partnership or shareholders’ agreement.
• Tax registration — If you will be selling goods, you’ll need to register your business with the Connecticut Department of Revenue Services (DRS) to collect sales tax. Whatever the business type, you’ll need to register with DRS to withhold taxes as an employer.
• Insurance — The discussion should cover the kinds of liability, property and other coverages you may need to protect your company.  

An initial productive conversation with your attorney will help create a working relationship that may prove invaluable as your business starts up and grows.

At Gesmonde, Pietrosimone & Sgrignari, L.L.C., we apply our decades of legal experience in advising entrepreneurs throughout Connecticut. To discuss your business idea with our team, call 203-745-0942 or contact us online to schedule a consultation at our Hamden or East Haven offices.