There are many company types you can choose from, and each has its own purpose and advantages. Not every entity type is available in every state, but the choice between each category largely comes down to just a few key questions. Because lawyers often bill at high hourly rates, this can rapidly erase any savings achieved in the initial phase of the startup. To familiarize yourself with the ins and outs of incorporation and company formation—particularly in the context of high growth startups—check out Gust’s Guide to Startup Incorporation. Starting on the right foot—or as the right business entity—is the best way to set your venture up for success.

Source: Forbes December 05, 2017 14:26 UTC