• Tanya S Osensky

How I Help: Startups and Online Forms

I was recently working with two best friends on a new legal entity and they were asking about an operating agreement for their new business. Trying to save money, they found a form online and asked me if it was OK. They had attached a separate piece of paper in which they described how income and losses should be allocated between them.

Unfortunately, the information on this additional piece of paper conflicted with other provisions in the body of the agreement. A situation like that is a dispute waiting to happen.

I made sure that I understood exactly how they wished to allocate the company income and losses and revised their agreement to be consistent and clear.

Think about it: Have you ever seen any reviews on the contract forms available online?

Online forms might be better than nothing, but not by much. When going into business with other people, it's important to have that relationship documented properly.

Recent Posts

See All

Here’s what happens when a company pays attention to how a contract reflects on the company’s brand. I represented a small HR training company that provided employee training to big companies. My clie

Many small businesses head to the internet to find a contract template or ask their friends to give them a contract they can copy and use in their business. But they’re missing a great marketing oppor

To Be or Not To Be… A Corporation… Or an LLC… Or maybe a partnership? The type of legal entity to set up is an important decision for new businesses. Most startups get advised to form an LLC because