[thelist] Re: New Design Firm

[Dan Romanchik]

John D Bloise" <jbloise1 at nc.rr.com> writes:

> I and a few wonderful friends are putting together a
> design firm. We're new to starting a new business. We
> realize that there is a procedure to starting a business.
> There will be at the most, 4 of us. Suggestions on the
> type of business (liscense?) we need to get? I've been
> told that getting a "doing business as", would be the way
> to go. Thanks to all.

That will get you started, but before you do this, you have to consider the
structure of your business. Is one of you going to own the business, or are
you all going to be partners?

If you're all going to be partners, I highly recommend that the four of you
draw up some kind of partnership agreement. It should talk about what the
responsibilities of each partner as well as what percentage each partner is
to get out of the profits. (All this is assuming that you're all going to be
partners.) It should also detail what happens to the assets of the business
if the partnership should break up and lots of other things as well.

Doing this now will save you a lot of grief later.

Dan
----------------------------------------------------------------------------
Dan Romanchik - FreeAgent Writer, Editor,  and Web Developer
dan at danromanchik.com, 734-930-6564