How to Structure Your Business for Success: Choosing the Correct Legal Structure for Your Business

Book Synopsis: The first edition of How to Structure Your Business for Success was written for veteran entrepreneurs in the Dept. of Defense's Transition Assistance Program ("TAP") who were participating in the SBA's Boots to Business workshop, which, at the time of this writing, remains part of the TAP. The goal was to provide entrepreneurs with basic, accurate information about the various types and kinds of business organizations (or "structures"), as well as a brief overview of, and introduction to, intellectual property ("IP") legal concepts. This Third Edition of How to Structure Your Business for Success builds on, and significantly expands, the original work and the revised edition--both not formally published. This is the first edition that will have gone to print. While it is more than three times longer than the first edition, this Third Edition clocks in under 80 pages. It is designed to be read quickly, reread, and referenced often. The author often says to Boots to Business attendees: "This information is not designed to help you DIY your legal work, which you never should do! Rather, it's designed to prepare you for a conversation with your attorney." In writing this book, the author wants to give readers a baseline of knowledge about the differences between sole proprietorships, partnerships, LLCs, and corporations; types of IP; and other start-up related legal matters. The purpose of this knowledge is to empower entrepreneurs and small business decision-makers, and make it less likely that an unscrupulous attorney may take advantage of their lack of sophistication. Packed with irreverent and candid observations, hard-earned insights obtained through years of legal practice, and recommendations for further reading, this is an excellent jumping off point for any entrepreneur hoping to educate themselves on the legal basics of entrepreneurship.