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Protect Your Business
Create your LLC with Nolo
Nolo's Small Business Resource Center can help you find answers to your business questions. For almost 50 years, Nolo has been helping consumers and small businesses by providing high quality, free legal information developed by our team of attorneys. Whether you are just developing your business idea or ready to open your doors for business, we have resources to help.
- Develop a Business Plan
- Choose Your Business Structure
- Form Your Business
- Get Your Business Up and Running
- Stay Legally Compliant
- Managing Your Business
- Going Out of Business
Develop a Business Plan
Every new business starts with an idea, but can you turn that idea into a moneymaking business? Learn how to evaluate your idea and develop a solid business plan.
- Evaluate Your Business Idea. Pros and cons to weigh before starting your own business.
- Five Questions to Ask Before Starting Your Business. Questions to help you decide if the business you are considering is right for you.
- Why You Need to Write a Business Plan. Why every business owner should create a business plan -- even if you're not trying to raise money.
Choose Your Business Structure
Before starting your business, you will need to choose an ownership structure. There are pros and cons that are important to consider so you choose the business structure that's best for you.
- Business Structure Quiz. Take our business formation quiz to find out what ownership structure is right for your business.
- Limited Liability Company (LLC) Basics. Limited liability companies offer liability protection, flexible management structure, and certain tax advantages.
- Corporation Basics. Corporations offer liability protection and certain tax and investor advantages but have more corporate formalities than LLCs.
- Sole Proprietorship Basics. A sole proprietorship is the simplest legal structure for a small business owner.
- Partnership Basics. A partnership is the simplest legal structure for a business with more than one owner.
- Business Structure Comparisons. Learn how the different business structures compare to one another.
Form Your Business
Once you have decided on your business entity, you will need to take steps to form your business. Whether it's an LLC, corporation, sole proprietorship, or partnership, learn what you need to do to create your business.
- How to Form an LLC. Step-by-step guide to forming a limited liability company in any state.
- How to Form a Corporation. Learn the steps you need to take to incorporate your business.
- How to Form a Sole Proprietorship. Everything you need to know to become a sole proprietorship in your state.
- Create a Partnership Agreement. How to create a partnership agreement and define each partner's rights and responsibilities.
- Choose a Business Name. No matter what business entity you choose, you will need to pick a name for your business.
Get Your Business Up and Running
After forming your business, there are additional steps required before you can open your doors for business. These include opening a bank account, leasing space, getting necessary licenses and permits, and making sure you are in compliance with state and federal laws.
- Apply for an Employer Identification Number (EIN). An EIN is a taxpayer identification number that most businesses need to pay taxes and open a bank account.
- Open a Business Bank Account. This is an essential first step to make sure you keep your business and personal expenses separate.
- Obtain a Business License. Make sure you have all the business licenses and permits you need to get started.
- Find a Location for Your Business. Learn what to look for when choosing a space for your business.
- Qualify to Do Business Outside Your State. If your business operates outside its home state, it may need to register as an out-of-state business.
Stay Legally Compliant
Once your business is up and running, you will have ongoing responsibilities to stay in legal compliance and protect your brand. At this stage, you might look into trademark registration to keep other businesses from using your name or logo. Be sure to check with your state and licensing agencies to determine if you must file annual or biannual reports to keep your business in good standing. Further, every business owner should plan for unforeseen circumstances by exploring options for insurance.
- Domain Names and Trademarks. Understand the difference between domain names and trademarks, and why both are important for your business.
- Annual reporting and taxes. If you own an LLC, your state might require you to file an annual report and pay an annual tax or fee.
- Small Business Insurance. Learn about the different types of insurance you should consider to protect your business.
Managing Your Business
To successfully grow your business, you'll need to understand some basics about how to properly manage a business. From bookkeeping to taxes to hiring employees, make sure you understand the do's and don'ts so you develop long-term successful business practices.
- Bookkeeping and Accounting. Learn the basics about accounting and record keeping for your business.
- Business Taxes. Make sure you know how to pay your taxes and get the most out of valuable business tax deductions.
- Sales & Marketing. Create strategies for finding customers and how to market your small business.
- Business Contracts. Learn how contracts work, common types of contracts, and how to deal with contract disputes.
- Hiring Employees. Understand the steps required when you hire your first employee.
- Independent Contractors. Get crucial guidance on how to value your work, collect payment, and manage health and retirement benefits as an IC.
Going Out of Business
If you decide to close up shop or sell your business to a new owner, you have a number of responsibilities to protect yourself, your credit, and your reputation in the community. The steps for closing or transferring your company will depend on a few factors such as the type of business, the number of owners, and whether your company has remaining assets after paying creditors.
- Dissolving Your Business. Learn about the paperwork you must file to officially close your business and cancel the company's registrations.
- Selling Your Business. Get guidance on legal considerations for selling a business, including tax consequences and sales contracts.
- Liquidating Business Assets. If you have business property you want to turn into cash to pay your creditors or distribute to owners, check out this article to learn about the liquidation process.
- Steps You Need to Take When Closing Your Business. Understand the steps you will follow to shut down your business, including voting to dissolve, filing paperwork with government agencies, and settling debts.
Resources
Nolo has been making do-it-yourself legal guides since 1971. Here are some additional online and other resources to help you form your business and keep it up and running.
Online Business Formation Services
- Nolo's Online LLC. Nolo's LLC formation service offers a fast, easy, and reliable way to form your LLC online.
- Nolo's Online Corporation. Nolo's corporation formation service offers a fast, easy, and reliable way to form your corporation online.
Starting and Running Your Business -- Books
- LLC or Corporation? Learn how these business structures differ and how they can affect your bottom line.
- How to Write a Business Plan. Step-by-step advice on how to prepare a business plan.
- Tax Savvy for Small Business. Save time, energy, and money with this basic business tax book.
- Working for Yourself. The all-in-one legal and tax resource every independent contractor and gig worker needs.
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