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Tips for Setting up and capitalizing your business.

Are you interested in creating electronic references (dictionaries, glossaries, field guides) for the education, business and multimedia industries?

Then this site is for you. It will help you find information on structuring and financing your business. Look also at the publishing section for information on packaging and distribution of your products. Although this site is designed for Lexicographer(tm) developers, much of the information is of general interest, and all are welcome. Enjoy!

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See also:

[Company Info] [Product Info] [Publishing Info] [Education Info] [Press Info]

Company Info. | Product Info. | Publisher Info. | Education Info. | Press Box

Abiogenesis makes no warrantees that the information included here is accurate or factual, and does not intend or imply any endorsement of the companies or products mentioned. This informational service is supplied as a courtesy and we recommend that you use due diligence in evaluating the following sources.

Starting a business

  • Licensing and Registrations
  • Organization
  • Choosing a Workspace
  • Copyrights, Patents and Trademarks

    • Incorporating your business

  • Choosing a Corporate Structure
  • Registered Agents and Incorporators
  • Attorneys

    • Accounting and Bookkeeping

  • Setting up a bank account
  • Choosing an Accountant

    • Financing your Business

  • General Information
  • Venture Capital
  • Loans
  • Grants

    • Taxes and Legal

  • General Information
  • Deductions
  • Lawsuits
    •

    Growing your Business

  • General Information
  • Going Public
  • Mergers and Acquisitions
  • Expansion
    •

    Transaction Mechanisms

  • Merchant Cards
  • Internet Transactions
    •

    STEP 1 - Check out Licenses, Permits and Registrations

    Getting your city, state and federal licenses and tax numbers.

    Tip: Certain minimum requirements are necessary for starting a software business, usually a city business license and state business license and tax number. You will also need a Federal number if you plan to hire employees. Fees vary, and there are restrictions on signs, retail traffic and manufacturing in residential areas that you must be aware of if you have a home-based business. The state license application also often includes a way to register your business name in the state. Be sure to have alternates ready when you apply, as your first (and second) choice may already be taken.

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    STEP 2 - Establish the Type of Business Organization

    Choosing a structure for your business; general reference sites.

    Tip: Many people start out their software companies as sole proprietorships or partnerships (general or limited). Be aware that your personal assets are at risk if you have a sole proprietorship or general partnership. You can separate and protect your personal assets by forming a limited partnership or corporation (S or C corporation). However, you are not legally protected if you incorporate in order to do illegal business. If you are found liable for illegal business practises, your assets can be at risk (this is called 'piercing the corporate veil').

    STEP 3 - Find a Suitable Workspace

    Information on finding and selecting a workspace; details on leasing, contracts, maintenance, etc.

    Tip: It is important to carefully research the size and type of space you will need for your business, and take into account future growth and needs. Most leased space requires a commitment of at least two or three years (and landlords are reluctant to make any improvements or adjustments to the space if the term of the lease is less). How much space do you need? Individual software companies vary widely, but estimate about 120 square feet per person (this takes into account common areas, storage and facilities) or more.

    STEP 4 - Lock in Patents, Copyrights and Trademarks

    Tip: The biggest misconception about the Patent Office is that it exists to protect your invention. Actually, the purpose is to disseminate information about original inventions after a term of exclusivity for the original inventor(s). Policing your patent is your responsibility and is not carried out by the patent office. They simply provide a record of the invention that carries legal weight. A patent document doesn't guarantee exclusivity, but it does is provide strong evidence in court, of your claim to the rights for the invention.

    Incorporation

    Pros and cons, structures and procedures for incorporating your business.

    Tip: There are a variety of corporate structures. Smaller corporations often favor S Corporations (originally designed to help prevent double taxation) and close corporations. A high proportion of companies trading on the large stock exchanges are incorporated in the state of Delaware, where tax and legal requirements are favorable to businesses. Other states, like Nevada, are promoting themselves as good areas to incorporate. If you incorporate out of your 'home' state (the state where your offices are, or where you generally do business), you will also need to file for foreign corporation status in the home state. You will then need a registered agent in the state where you have incorporated, if you are not physically present in that state.

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    Corporate Agents and Incorporators

    Individuals and firms that provide information or assistance with submitting legal forms for incorporation.

    Attorneys

    Banking

    Tip: Banks have more stringent requirements for opening a business account, than for opening a personal account. You will generally be asked to supply a city or state license and tax ID number, and sometimes also a partnership contract or articles of incorporation, depending on the type of company you have.

    Accounting and Bookkeeping

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    General Finance Information

    Information on managing your money.

    Venture Capital

    Information on procuring venture capital for your business.

    Tip: The climate is quite good for venture capital, but keep in mind that you have to make a strong presentation, and be prepared for the fact that some venture capital firms will want a big say in the running of your business. You have to carefully weigh the benefits of the experience of venture executives with your desire to maintain control over your company.

    Loans

    Sources of information and funds.

    Grants

    Sources of information and funds.

    Tax Information

    Deductions

    Tip: Unsure of whether something is deductible? Ask yourself this question: "Is this expense normal and necessary for this type of business?" If you're an encyclopaedia sales rep, the purchase of a hammer would obviously not be an allowable business expense. If, however, you are a carpenter, purchase of a hammer would be considered normal, and probably necessary.

    Lawsuits

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    Patent and Copyright Violations

    Tip: It is your responsibility to police your intellectual property. The Patent and Copyright offices only record your inventions and intellectual property, and issue documents and identifying numbers. They do not check to see if anyone is violating your rights, or initiate any lawsuits on your behalf.

    Growing your Business

    Going Public

    Tip: Although there is wide variation in the ways businesses go about being listed on a public exchange, the securities regulators like to see a history of good records and audits, usually at least three years' worth. There are very strict regulations about soliciting investment in public companies. You are not permitted to advertise your shares. If you want to attract investors, this is usually done through an investor relations liaison or department, and the actual share offering is described in the company prospectus.

    Mergers and Acquisitions

    Expansion

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    Merchant Cards

    Tip: Many local banks are not inclined to offer merchant cards to home-based or mail order businesses. Do some research before you apply. There are services springing up on the internet for nontraditional businesses. You may have a better chance of getting merchant status if you go through an alternate bank, outside of your community.

    Internet Transactions

    Tip: Internet transaction mechanisms are sprouting like mushrooms. Some are appropriate for software sales and some are not. They vary widely in the way in which they secure the transactions, and in how the products are provided to the consumer. We will endeavor to locate those which would be suitable for software companies seeking to do business on the net, and add them as we have time.

    You can also search for print books through Amazon by author, subject or title in the search box below. Then, when you are redirected to the Associates Amazon page, scroll down to the bottom to see the book you requested:

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    Email suggestions and comments to buspage @ abiogenesis.com (Sorry we don't use an automatic tag for this mailto, but we were getting too many spam messages from robot junk emailers.) Topics: domain registration domain hosting network solutions dollar domain internic .com .net .org organization