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The roadmap to success starts with knowing how to structure your business and the will to succeed

10/12/2016

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One of the first steps in establishing a business is deciding the legal structure. Kevin D. Obos, a partner from Harrison Sale McCloy, gave an informative session during our October Speaker Series about the differences between legal structures including a sole proprietorship, general partnership, limited partnership, corporation, Limited Liability Company (LLC) and a Series LLC.  

Some major factors to think about when making such a decision is the long-term vision for the business, tax implications, personal and financial involvement in the company, the amount of business and personal liability incurred, and the type of business. 
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Rob Moran, CEO, and Co-Founder of Mine Survival, Inc. followed with his journey of developing a closed-circuit escape vest and the company. "The pathway to success is thought to look like a straight arrow, but what it looks like is an arrow drawn with many curved lines,"  reported Moran. He emphasized the importance of hiring a good team, always being in a learning mode, being prepared for setbacks, and grasping what investors will want to know.  The company incorporated in 2014 and continues to work toward long-term success. 
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HK Shelf Companies link
11/24/2016 02:22:01 am

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