Primer on Forming Your Own Business
There are many rewards for those who chose the pathway to form their own business, but there are also challenges and pitfalls along the way. Seeking counsel from an experienced business attorney can help you avoid many of those problems. Business Form. Once you have a business plan in mind, the first choice is what type of legal entity you will require for your business. The form of your business will have significant impact on your personal risk as well as tax ramifications, control issues, and financial rewards. Company Name. Selection of a company name should be one of the first steps. The company name should convey your message to potential customers and be unique. In order to determine if a name it available in Hawaii, you should refer to the Department of Commerce and Consumer Affairs (DCCA) website. A business name cannot be the same or confusingly similar to […]
MoreBrokers Are Liable
Stockbrokers and financial planners are required by law to “know their clients” and recommend investments that are appropriate for them. The rules governing brokers require that they have reasonable grounds for believing that every recommendation is suitable for the customer. The broker (often called a “financial consultant”) must obtain information concerning their clients’ financial condition and investment objectives before making a recommendation. Certified Financial Planners are held to even higher standards. For retirees, or people approaching retirement, suitable investments mean conservative investments, where life savings are protected. The investment should earn income for them to live on, through interest and dividends. This is because retirees cannot afford to lose their retirement savings. After a financial consultant invests a client’s money, that advisor should continually monitor the client’s investments and personal situation. Financial advisors are required to warn their clients if the investments are not working out or pose more risks […]
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