[{"data":1,"prerenderedAt":523},["ShallowReactive",2],{"document-worksheet_business-selection-D116":3},{"document":4,"label":23,"preview":11,"thumb":24,"thumb600":25,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":26,"breadcrumb":30,"related":38,"customDescModule":176,"customdescription":6,"mdFm":177,"mdProseHtml":522},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":16,"keywords":15},"Business Selection worksheet The following worksheet will help you choose the business that is right for you. It is important that you take the time to evaluate all aspects very deeply. To fill it out, follow these three steps: First, list the business ideas you are considering by order of interest. In the top left-hand blank space put the idea you think you are most interested in. Underneath it put the next idea and so forth. Then, take each idea and rate it in each of the areas. Use the following rating system: Rating 0 - none 1 - below average 2 - average 3 - above average Finally, total up the numbers. Here are some tips for making sense of the numbers and for narrowing your list of business possibilities: Eliminate any of your ideas that scored less than a total of 10. Eliminate any idea that did not score at least a 2 in every category. Eliminate any idea that did not score at least a 3 in the uniqueness category. How many ideas are left? If the answer is \"none,\" then you need to use to identify where you need to improve and you need to develop a strategy for raising the \"1's\" to \"2's\" or \"3's.\" If the answer is \"more than one,\" you have a pleasant dilemma. If the answer is \"one,\" you may have just found the business that is perfect for you. Your knowledge of the business How much do you know about the area? Will you have to spend extra time and money teaching yourself the business? Will you have to take on a partner because you do not know the business well enough? Rating: 0 - No knowledge of the business 1 - Some indirect knowledge of the business 2 - Limited knowledge 3 - Working knowledge Your experience in the field In some cases, you may have a lot of knowledge about the subject, but not much experience",null,"Worksheet_Business Selection","2",513,"doc","https://templates.business-in-a-box.com/imgs/1000px/worksheet_business-selection-D116.png","https://templates.business-in-a-box.com/imgs/250px/116.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#116.xml",{"title":15,"description":6},"worksheet_business selection",[17,20],{"label":18,"url":19},"Business Plan Kit","/templates/business-plan-kit/",{"label":21,"url":22},"Starting a Business","/templates/starting-a-business/","Worksheet_Business Selection Template","https://templates.business-in-a-box.com/imgs/400px/116.png","https://templates.business-in-a-box.com/imgs/600px/116.png",[27,17,20],{"label":28,"url":29},"Templates","/templates/",[31,32,35],{"label":28,"url":29},{"label":33,"url":34},"Legal Agreements","/templates/business-legal-agreements/",{"label":36,"url":37},"Incorporation & Bylaws","/templates/incorporation-and-bylaws/",[39,43,47,51,55,59,63,67,71,75,79,83,87,104,119,134,149,163],{"label":40,"url":41,"thumb":42,"extension":10},"Worksheet_Business Analysis","/template/worksheet_business-analysis-D1353","https://templates.business-in-a-box.com/imgs/250px/1353.png",{"label":44,"url":45,"thumb":46,"extension":10},"Checklist Site Selection","/template/checklist-site-selection-D13623","https://templates.business-in-a-box.com/imgs/250px/13623.png",{"label":48,"url":49,"thumb":50,"extension":10},"Worksheet_Business Insurance Planning","/template/worksheet_business-insurance-planning-D373","https://templates.business-in-a-box.com/imgs/250px/373.png",{"label":52,"url":53,"thumb":54,"extension":10},"Applicant Selection Criteria Record","/template/applicant-selection-criteria-record-D561","https://templates.business-in-a-box.com/imgs/250px/561.png",{"label":56,"url":57,"thumb":58,"extension":10},"Starting Ecommerce Business Checklist","/template/starting-ecommerce-business-checklist-D13399","https://templates.business-in-a-box.com/imgs/250px/13399.png",{"label":60,"url":61,"thumb":62,"extension":10},"4 Necessary Mindset Shifts To Make Before Starting A Business","/template/4-necessary-mindset-shifts-to-make-before-starting-a-business-D13589","https://templates.business-in-a-box.com/imgs/250px/13589.png",{"label":64,"url":65,"thumb":66,"extension":10},"Starting A Podcast To Market Your Business","/template/starting-a-podcast-to-market-your-business-D13212","https://templates.business-in-a-box.com/imgs/250px/13212.png",{"label":68,"url":69,"thumb":70,"extension":10},"How To Choose The Right Business Model For Your Business","/template/how-to-choose-the-right-business-model-for-your-business-D13178","https://templates.business-in-a-box.com/imgs/250px/13178.png",{"label":72,"url":73,"thumb":74,"extension":10},"Business Model Canvas","/template/business-model-canvas-D12915","https://templates.business-in-a-box.com/imgs/250px/12915.png",{"label":76,"url":77,"thumb":78,"extension":10},"How To Buy A Small Business","/template/how-to-buy-a-small-business-D13155","https://templates.business-in-a-box.com/imgs/250px/13155.png",{"label":80,"url":81,"thumb":82,"extension":10},"How To Start An Online Business","/template/how-to-start-an-online-business-D12954","https://templates.business-in-a-box.com/imgs/250px/12954.png",{"label":84,"url":85,"thumb":86,"extension":10},"SAAS Business Model Guide","/template/saas-business-model-guide-D13038","https://templates.business-in-a-box.com/imgs/250px/13038.png",{"description":88,"descriptionCustom":6,"label":89,"pages":90,"size":91,"extension":10,"preview":92,"thumb":93,"svgFrame":94,"seoMetadata":95,"parents":96,"keywords":102,"url":103},"LIMITED LIABILITY COMPANY OPERATING AGREEMENT This Limited Liability Company Operating Agreement is entered into as of the [DATE], BETWEEN: [INDIVIDUAL NAMES] (the \"Managing Members\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [COMPANY NAME] (the \"Non-Managing Members\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] The Managing Members and the Non-Managing Members are referred to herein collectively as the \"Members\". The Members have formed the Company by causing a Certificate of Formation (the \"Certificate\") conforming to the requirements of the [STATE] Revised Limited Liability Company Act (the \"Act\") to be filed in the Office of the Secretary of State for the State of [STATE]. NAME, PURPOSE AND PRINCIPAL OFFICE OF COMPANY Name The name of the Company is [COMPANY NAME], LLC. The affairs of the Company shall be conducted under such name or such other name as the Managing Members may, in their discretion, determine. [COMPANY NAME] hereby grants the Company the right, at no cost, to use the [SPECIFY] name for the term of the Company as set forth in Article [SPECIFY] hereof. Agreement In consideration of the mutual covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Members executing this Agreement hereby agree to the terms and conditions of this Agreement, as it may be amended from time to time. It is the express intention of the Members that this Agreement shall be the sole statement of agreement among them, and, except to the extent a provision of this Agreement expressly incorporates matters by express reference, this Agreement shall govern even when inconsistent with or different from the provisions of the Act or any other provision of law. Purpose; Powers Purpose. The primary purpose of the Company is to act as the general partner of [COMPANY NAME] (the \"Fund\"). Powers. Subject to all of the terms and provisions hereof, the Company shall have all powers necessary, suitable or convenient for the accomplishment of the purpose of the Company, including, without limitation, the following: to purchase, sell, invest and trade in securities of every kind, including, without limitation, capital stock, limited partnership interests, bonds, notes, debentures, securities convertible into other securities, trust receipts and other obligations, instruments or evidences of indebtedness, as well as in rights, warrants and options to purchase securities; to make and perform all contracts and engage in all activities and transactions necessary or advisable to [SPECIFY] out the purposes of the Company, including, without limitation, the purchase, sale, transfer, pledge and exercise of all rights, privileges and incidents of ownership or possession with respect to any Company asset or liability; the borrowing or lending of money and the securing of payment of any Company obligation by hypothecation or pledge of, or grant of a security interest in, Company assets; and the guarantee of or becoming surety for the debts of others; and otherwise to have all the powers available to it as a limited liability company under the Act. Registered Office and Agent The initial address of the Company registered office in [STATE] is, and its initial agent at such address for service of process is Incorporating Services Limited. The Managing Members may change the registered office and agent for service of process as they from time to time may determine. Principal Office The principal office of the Company shall initially be located at [ADDRESS]. The Managing Members may change the location of the principal office of the Company at any time. Definitions Additional Members. This term shall have the meaning ascribed to it in Paragraph 3.2. Affiliate. With reference to any person, any other person controlling, controlled by or under direct or indirect common control with such person. Agreement. This Operating Agreement of [COMPANY NAME], a [STATE] limited liability company. Assignee. This term shall have the meaning ascribed to it in Paragraph [NUMBER]. Bankruptcy. A person or entity shall be deemed bankrupt if: any proceeding is commenced against such person or entity as debtor for any relief under bankruptcy or insolvency laws, or laws relating to the relief of debtors, reorganizations, arrangements, compositions or extensions and such proceeding is not dismissed within [NUMBER] days after such proceeding has commenced, or such person or entity commences any proceeding for relief under bankruptcy or insolvency laws or laws relating to the relief of debtors, reorganizations, arrangements, compositions or extensions. Book Value. This term shall have the meaning ascribed to it in Paragraph 6.2(a). Capital Account. This term shall have the meaning ascribed to it in Paragraph 6.2(b). Capital Commitment. This term shall have the meaning ascribed to it in Paragraph 5.1. Capital Contribution. This term shall have the meaning ascribed to it in Paragraph 5.1(b). [SPECIFY]. The Company [PERCENTAGE] carried interest in the income of the Fund. Certificate. The Certificate of Formation of [COMPANY NAME], a [STATE] limited liability company. Code. [SPECIFY YOUR COUNTRY INTERNAL REVENUE ACT/CODE/LAW], as amended from time to time (and any corresponding provisions of succeeding law). Defaulting Member. This term shall have the meaning ascribed to it in Paragraph 5.4(a). Fiscal Quarter. This term shall have the meaning ascribed to it in Paragraph 6.2(c). Fiscal Year. This term shall have the meaning ascribed to it in Paragraph 6.2(d). Management Fee. The management fee receivable by the Company from the Fund. Net Income or Net Loss. This term shall have the meaning ascribed to it in Paragraph 6.2(e). Percentage Interest. This term shall have the meaning ascribed to it in Paragraph [NUMBER]. Sale or Exchange. This term shall have the meaning ascribed to it in Paragraph [NUMBER]. Securities Act. [YOUR COUNTRY ACT/CODE/LAW] as amended from time to time. Securities. Securities of every kind and nature and rights and options with respect thereto, including stock, notes, bonds, debentures, evidences of indebtedness and other business interests of every type, including interests in partnerships, joint ventures, proprietorships and other business entities. TMP. This term shall have the meaning ascribed to it in Paragraph 13.16. Termination Date. This term shall have the meaning ascribed to it in Paragraph 2.1. Treasury Regulations. The Income Regulations promulgated under the Code, as such Regulations may be amended from time to time (including corresponding provisions of succeeding Regulations). TERM AND TERMINATION OF THE COMPANY Term The term of the Company shall continue until [NUMBER] year after the dissolution of the Fund unless sooner terminated as provided in Paragraph 2.2 or by operation of law or extended as provided in Paragraph 2.3. The last day of the term of the Company, as such may be extended as provided herein, is referred to herein as the \"Termination Date.\" Termination The Company shall terminate prior to the end of the period specified in Paragraph 2.1 at the election of the Managing Members. The Managing Members shall deliver notice of such termination to the Non-Managing Members. Extension of Term The term of the Company may be extended by the Managing Members. The Managing Members shall provide notice of any such extension to the Non-Managing Members. INITIAL MEMBERS; CHANGES IN MEMBERSHIP Name and Address The persons listed on Exhibit A are hereby admitted as Members of the Company","LLC Operating Agreement","21",207,"https://templates.business-in-a-box.com/imgs/1000px/llc-operating-agreement-D5209.png","https://templates.business-in-a-box.com/imgs/250px/5209.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#5209.xml",{"title":6,"description":6},[97,99],{"label":33,"url":98},"business-legal-agreements",{"label":100,"url":101},"Incorporation Agreements","incorporation-agreement","llc operating agreement","/template/llc-operating-agreement-D5209",{"description":105,"descriptionCustom":6,"label":106,"pages":107,"size":9,"extension":10,"preview":108,"thumb":109,"svgFrame":110,"seoMetadata":111,"parents":113,"keywords":112,"url":118},"PARTNERSHIP AGREEMENT This Partnership Agreement (\"Agreement\") is made and effective this [Date], BETWEEN: [YOUR COMPANY NAME] (the \"First Partner\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [SECOND PARTNER NAME] (the \"Second Partner\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] RECITALS Partners desire to join together for the pursuit of common business goals. Partners have considered various forms of joint business enterprises for their business activities. Partners desire to enter into a partnership agreement as the most advantageous business form for their mutual purposes. The parties hereto agree to form a limited partnership (the \"Partnership\") under [LAW, CODE OR ACT]. In consideration of the mutual promises contained in this agreement, partners agree as follows: NAME AND DOMICILE The name of the partnership shall be [name]. The principal place of business shall be at [address], [city], [state/province], unless relocated by consent of the partners. Purposes Subject to the limitations set forth in this Agreement, the purposes of the Partnership are to engage in the business of [DESCRIBE ACTIVITIES]; and to conduct other activities as may be necessary or incidental to or desirable in connection with the foregoing. DURATION OF AGREEMENT The term of this agreement shall be for [number] years, commencing on [date], and terminating on [date], unless sooner terminated by mutual consent of the parties or by operation of the provisions of this agreement. CLASSIFICATION AND PERFORMANCE BY PARTNERS Partners shall be classified as active partners, advisory partners, or estate partners. An active partner may voluntarily become an advisory partner, may be required to become one irrespective of age, and shall automatically become one after attaining the age of [age] years, and in each case shall continue as such for [number] years unless the partner sooner withdraws or dies. If an active partner dies, the partner's estate will become an estate partner for [number] years. If an advisory partner dies within [Number] years of having become an advisory partner, the partner will become an estate partner for the balance of the [number]-year period. Only active partners shall have any vote in any partnership matter. At the time of the taking effect of this partnership agreement, all the partners shall be active partners except [name] and [name], who shall be advisory partners. An active partner, after attaining the age of [age] years, or prior to that age if the [executive committee or as the case may be] with the approval of [two-thirds or as the case may be] of all the other active partners determines that the reason for the change in status is bad health, may become an advisory partner at the end of any calendar month on giving [number] calendar months' prior notice in writing of the partner's intention to do so. The notice shall be deemed to be sufficient if sent by registered mail addressed to the partnership at its principal office at [address], [city], [state/province] not less than [number] calendar months prior to the date when the change is to become effective. Any active partner may at any age be required to become an advisory partner at any time if the [executive committee or as the case may be] with the approval of [two-thirds or as the case may be] of the other active partners shall decide that the change is for any reason in the best interests of the partnership, provided notice of the decision shall be given in writing to the partner. The notice shall be signed by the [chairman or as the case may be] of the [executive committee or as the case may be] or, in the event of his or her being unable to sign at the time, by another member of the [executive committee or as the case may be]. The notice shall be served personally on the partner required to change his or her status or mailed by registered mail to the partner's last known address. Change of the partner's status shall become effective as of the date specified in the notice. Every active partner shall automatically and without further act become an advisory partner at the end of the fiscal year in which the partner's birthday occurs. In the event that an active partner becomes an advisory partner or dies, the partner or the partner's estate shall be entitled to the following payments at the following times: [describe] Each active partner shall apply all of the partner's experience, training, and ability in discharging the partner's assigned functions in the partnership and in the performance of all work that may be necessary or advantageous to further the business interests of the partnership. CONTRIBUTION Each partner shall contribute [amount] on or before [date] to be used by the partnership to establish its capital position. Any additional contribution required of partners shall only be determined and established in accordance with Article Nineteen. MANAGEMENT OF THE PARTNERSHIP The Partnership shall be managed by [SPECIFY]. Subject to the limitations specifically contained in this Agreement, [PARTY MANAGING THE PARTNERSHIP] shall have the full, exclusive and absolute right, power and authority to manage and control the Partnership and the property, assets and business thereof. [PARTY MANAGING THE PARTNERSHIP] shall have all of the rights, powers and authority conferred by law or under other provisions of this Agreement. Without limiting the generality of the foregoing, such powers include the right on behalf of the Partnership, in [PARTY MANAGING THE PARTNERSHIP]' sole discretion, to: Acquire, purchase, renovate, improve, and own any property or assets necessary or appropriate or in the best interests of the business of the Partnership, and to acquire options for the purchase of any such property; Borrow money, issue evidences of indebtedness in connection therewith, refinance, increase the amount of, modify, amend or change the terms of, or extend the time for the payment of, any indebtedness or obligation of the Partnership, and secure such indebtedness by mortgage, deed of trust, pledge or other lien on Partnership assets; Sue on, defend or compromise any and all claims or liabilities in favor of or against the Partnership and to submit any or all such claims or liabilities to arbitration; File applications, communicate and otherwise deal with any and all governmental agencies having jurisdiction over, or in any way affecting, the Partnership's assets or any part thereof or any other aspect of the Partnership business; Retain services of any kind or nature in connection with the Partnership business, and to pay therefore such remuneration deem reasonable and proper; and Perform any and all other acts deem necessary or appropriate to the Partnership business. TRANSFER OF PARNERSHIP INTERESTS Restrictions on Transfer None of the Partners shall sell, assign, transfer, mortgage, encumber, or otherwise dispose of the whole or part of that Partner's interest in the Partnership, and no purchaser or other transferee shall have any rights in the Partnership as an assignee or otherwise with respect to all or any part of that Partnership interest attempted to be sold, assigned, transferred, mortgaged, encumbered, or otherwise disposed of, unless and to the extent that the remaining Partner(s) have given consent to such sale, assignment, transfer, mortgage, or encumbrance, but only if the transferee forthwith assumes and agrees to be bound by the provisions of this Agreement and to become a Partner for all purposes hereof, in which event, such transferee shall become a substituted partner under this Agreement.","Partnership Agreement","8","https://templates.business-in-a-box.com/imgs/1000px/partnership-agreement-D12551.png","https://templates.business-in-a-box.com/imgs/250px/12551.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12551.xml",{"title":112,"description":6},"partnership agreement",[114,115],{"label":33,"url":98},{"label":116,"url":117},"Partnership Agreements","partnership-agreement","/template/partnership-agreement-D12551",{"description":120,"descriptionCustom":6,"label":121,"pages":122,"size":9,"extension":10,"preview":123,"thumb":124,"svgFrame":125,"seoMetadata":126,"parents":128,"keywords":127,"url":133},"NON-DISCLOSURE AGREEMENT (NDA) This Non-Disclosure Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Disclosing Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [RECEIVING PARTY NAME] (the \"Receiving Party\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, Receiving Party has been or will be engaged in the performance of work on [DESCRIBE]; and in connection therewith will be given access to certain confidential and proprietary information; and WHEREAS, Receiving Party and Disclosing Party wish to evidence by this Agreement the manner in which said confidential and proprietary material will be treated. NOW, THEREFORE, it is agreed as follows: NON-DISCLOSURE OF CONFIDENTIAL INFORMATION Both Parties understand and agree that each Party may have access to the confidential information of the other party. For the purposes of this Agreement, \"Confidential Information\" means proprietary and confidential information about the Disclosing Party's (or it's suppliers') business or activities. Such information includes all business, financial, technical, and other information marked or designated by such Party as \"confidential\" or \"proprietary.\" Confidential Information also includes information which, by the nature of the circumstances surrounding the disclosure, ought in good faith to be treated as confidential. For the purposes of this Agreement, Confidential Information does not include: Information that is currently in the public domain or that enters the public domain after the signing of this Agreement. Information a Party lawfully receives from a third Party without restriction on disclosure and without breach of a non-disclosure obligation. Information that the Receiving Party knew prior to receiving any Confidential Information from the Disclosing Party. Information that the Receiving Party independently develops without reliance on any Confidential Information from the Disclosing Party. Each Party agrees that it will not disclose to any third Party or use any Confidential Information disclosed to it by the other Party except when expressly permitted in writing by the other Party. Each Party also agrees that it will take all reasonable measures to maintain the confidentiality of all Confidential Information of the other Party in its possession or control. TERM The term of this Agreement is [number] of [years/months] from the date of execution by both Parties. TITLE The Receiving Party agrees that all Confidential Information furnished by the Disclosing Party shall remain the sole property of the Disclosing Party. DISCLAIMER","Non Disclosure Agreement Nda","3","https://templates.business-in-a-box.com/imgs/1000px/non-disclosure-agreement-nda-D12692.png","https://templates.business-in-a-box.com/imgs/250px/12692.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12692.xml",{"title":127,"description":6},"non disclosure agreement nda",[129,130],{"label":33,"url":98},{"label":131,"url":132},"Confidentiality Agreements","confidentiality-agreement","/template/non-disclosure-agreement-nda-D12692",{"description":135,"descriptionCustom":6,"label":136,"pages":137,"size":138,"extension":10,"preview":139,"thumb":140,"svgFrame":141,"seoMetadata":142,"parents":143,"keywords":147,"url":148},"INDEPENDENT CONTRACTOR AGREEMENT This Independent Contractor Agreement (\"Agreement\") is made and effective [Date], BETWEEN: [INDEPENDENT CONTRACTOR NAME] (the \"Independent Contractor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Company\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] RECITALS Independent Contractor is engaged in providing [Describe] business services, its Employer Tax I.D. Number is [Insert], and its Business License Number is [insert]. Independent Contractor has complied with all Federal, State, and local laws regarding business permits, sales permits, licenses, reporting requirements, tax withholding requirements, and other legal requirements of any kind that may be required to carry out said business and the Scope of Work which is to be performed as an Independent Contractor pursuant to this Agreement. Independent Contractor is or remains open to conducting similar tasks or activities for clients other than the Company and holds themselves out to the public to be a separate business entity. Company desires to engage and contract for the services of the Independent Contractor to perform certain tasks as set forth below. Independent Contractor desires to enter into this Agreement and perform as an independent contractor for the company and is willing to do so on the terms and conditions set forth below. NOW, THEREFORE, in consideration of the above recitals and the mutual promises and conditions contained in this Agreement, the Parties agree as follows: TERMS This Agreement shall be effective commencing [Date], and shall continue until terminated at the completion of the Scope of Work which shall occur no later than [Date] or by either party as otherwise provided herein. STATUS OF INDEPENDENT CONTRACTOR This Agreement does not constitute a hiring by either party. It is the parties intentions that Independent Contractor shall have an independent contractor status and not be an employee for any purposes, including, but not limited to, [laws]. Independent Contractor shall retain sole and absolute discretion in the manner and means of carrying out their activities and responsibilities under this Agreement. This Agreement shall not be considered or construed to be a partnership or joint venture, and the Company shall not be liable for any obligations incurred by Independent Contractor unless specifically authorized in writing. Independent Contractor shall not act as an agent of the Company, ostensibly or otherwise, nor bind the Company in any manner, unless specifically authorized to do so in writing. TASKS, DUTIES, AND SCOPE OF WORK Independent Contractor agrees to devote as much time, attention, and energy as necessary to complete or achieve the following: [Describe]. The above to be referred to in this Agreement as the \"Scope of Work\". It is expected that the Scope of Work will completed by [Date]. Independent Contractor shall additionally perform any and all tasks and duties associated with the Scope of Work set forth above, including but not limited to, work being performed already or related change orders. Independent Contractor shall not be entitled to engage in any activities which are not expressly set forth by this Agreement. The books and records related to the Scope of Work set forth in this Agreement shall be maintained by the Independent Contractor at the Independent Contractor's principal place of business and open to inspection by Company during regular working hours. Documents to which Company will be entitled to inspect include, but are not limited to, any and all contract documents, change orders/purchase orders and work authorized by Independent Contractor or Company on existing or potential projects related to this Agreement. Independent Contractor shall be responsible to the management and directors of Company, but Independent Contractor will not be required to follow or establish a regular or daily work schedule. Supply all necessary equipment, materials and supplies. Independent Contractor will not rely on the equipment or offices of Company for completion of tasks and duties set forth pursuant to this Agreement. Any advice given Independent Contractors regarding the scope of work shall be considered a suggestion only, not an instruction. Company retains the right to inspect, stop, or alter the work of Independent Contractor to assure its conformity with this Agreement. ASSURANCE OF SERVICES Independent Contractor will assure that the following individuals (the \"Key Employees\") will be available to perform, and will perform, the Services hereunder until they are completed (identify by title and name as applicable): [Name of Key Employee, Title] [Name of Key Employee, Title] The Key Employees may be changed only with the prior written approval of the Company, which approval shall not be unreasonably withheld. COMPENSATION Independent Contractor shall be entitled to compensation for performing those tasks and duties related to the Scope of Work as follows: [Describe] Such compensation shall become due and payable to Independent Contractor in the following time, place, and manner: [Describe] NOTICE CONCERNING WITHHOLDING OF TAXES Independent Contractor recognizes and understands that it will receive a [specify tax] statement and related tax statements, and will be required to file corporate and/or individual tax returns and to pay taxes in accordance with all provisions of applicable Federal and State law. Independent Contractor hereby promises and agrees to indemnify the Company for any damages or expenses, including attorney's fees, and legal expenses, incurred by the Company as a result of independent contractor's failure to make such required payments. AGREEMENT TO WAIVE RIGHTS TO BENEFITS Independent Contractor hereby waives and foregoes the right to receive any benefits given by Company to its regular employees, including, but not limited to, health benefits, vacation and sick leave benefits, profit sharing plans, etc. This waiver is applicable to all non-salary benefits which might otherwise be found to accrue to the Independent Contractor by virtue of their services to Company, and is effective for the entire duration of Independent Contractor's agreement with Company. This waiver is effective independently of Independent Contractor's employment status as adjudged for taxation purposes or for any other purpose. Neither this Agreement, nor any duties or obligations under this Agreement may be assigned by either party without the consent of the other. TERMINATION This Agreement may be terminated prior to the completion or achievement of the Scope of Work by either party giving [number] days written notice. Such termination shall not prejudice any other remedy to which the terminating party may be entitled, either by law, in equity, or under this Agreement. NON-DISCLOSURE OF TRADE SECRETS, CUSTOMER LISTS AND OTHER PROPRIETARY INFORMATION Independent Contractor agrees not to disclose or communicate, in any manner, either during or after Independent Contractor's agreement with Company, information about Company, its operations, clientele, or any other information, that relate to the business of Company including, but not limited to, the names of its customers, its marketing strategies, operations, or any other information of any kind which would be deemed confidential, a trade secret, a customer list, or other form of proprietary information of Company. Independent Contractor acknowledges that the above information is material and confidential and that it affects the profitability of Company. ","Independent Contractor Agreement","6",62,"https://templates.business-in-a-box.com/imgs/1000px/independent-contractor-agreement-D160.png","https://templates.business-in-a-box.com/imgs/250px/160.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#160.xml",{"title":6,"description":6},[144],{"label":145,"url":146},"Consultant & Contractors","consulting-contractor-business","independent contractor agreement","/template/independent-contractor-agreement-D160",{"description":150,"descriptionCustom":6,"label":151,"pages":152,"size":153,"extension":10,"preview":154,"thumb":155,"svgFrame":156,"seoMetadata":157,"parents":158,"keywords":161,"url":162},"ADHESION TO THE UNANIMOUS SHAREHOLDER AGREEMENT I, [INDIVIDUAL NAME], domiciled and residing at [FULL ADDRESS], declare that: As of today, I subscribe to [NUMBER] class [SPECIFY] shares issued from the share-capital of [COMPANY NAME]; I have examined the Unanimous Shareholders Agreement and I am satisfied of its content and acknowledge that a copy of such documents has been remitted to me;","Adhesion to the Unanimous Shareholder Agreement","1",41,"https://templates.business-in-a-box.com/imgs/1000px/adhesion-to-the-unanimous-shareholder-agreement-D848.png","https://templates.business-in-a-box.com/imgs/250px/848.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#848.xml",{"title":6,"description":6},[159,160],{"label":33,"url":98},{"label":33,"url":98},"adhesion to unanimous shareholder agreement","/template/adhesion-to-the-unanimous-shareholder-agreement-D848",{"description":164,"descriptionCustom":6,"label":165,"pages":152,"size":9,"extension":10,"preview":166,"thumb":167,"svgFrame":168,"seoMetadata":169,"parents":171,"keywords":170,"url":175},"","Business Plan Canvas (One Page)","https://templates.business-in-a-box.com/imgs/1000px/business-plan-canvas-(one-page)-D12527.png","https://templates.business-in-a-box.com/imgs/250px/12527.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12527.xml",{"title":170,"description":6},"business plan canvas (one page)",[172,174],{"label":18,"url":173},"business-plan-kit",{"label":18,"url":173},"/template/business-plan-canvas-(one-page)-D12527",false,{"seo":178,"reviewer":191,"legal_disclaimer":195,"quick_facts":196,"at_a_glance":198,"personas":202,"variants":227,"glossary":254,"clauses":291,"how_to_fill":342,"common_mistakes":383,"faqs":408,"industries":436,"comparisons":453,"diy_vs_lawyer":467,"jurisdictions":480,"related_template_ids_curated":501,"schema":511,"classification":512},{"meta_title":179,"meta_description":180,"primary_keyword":181,"secondary_keywords":182},"Worksheet Business Selection Template (Free Word)","Free worksheet business selection template to evaluate and compare business structures before committing. Used in 190+ countries. Free Word and PDF download.","worksheet business selection template",[183,184,185,186,187,188,189,190],"business selection worksheet","business structure selection template","choosing a business entity worksheet","business entity comparison template","business formation worksheet","business structure comparison word","entity selection worksheet free download","small business entity selection guide",{"name":192,"credential":193,"reviewed_date":194},"Bruno Goulet","CEO, Business in a Box","2026-05-02",true,{"difficulty":197,"legal_review_recommended":195,"signature_required":195,"notarization_required":176},"medium",{"what_it_is":199,"when_you_need_it":200,"whats_inside":201},"A Worksheet Business Selection is a structured legal document that guides founders, partners, and advisors through a systematic comparison of available business entity types — sole proprietorship, partnership, LLC, S-Corp, and C-Corp — before formation. This free Word download walks you through the key legal, tax, and operational criteria that determine which structure best fits your situation, and produces a documented rationale you can share with your attorney, accountant, or co-founders.\n","Use it before registering a new business, when restructuring an existing entity, or when bringing on investors or co-founders whose entry changes the optimal structure. It is also used by advisors when onboarding new clients who have not yet formed a legal entity.\n","Owner and business profile information, a side-by-side comparison of entity types across liability, taxation, governance, and formation cost criteria, a scoring or weighting section for each factor, a recommended entity selection field, and a signature block for owner and advisor acknowledgment.\n",[203,207,211,215,219,223],{"title":204,"use_case":205,"icon_asset_id":206},"First-time entrepreneurs","Selecting the right entity before filing formation documents with the state","persona-startup-founder",{"title":208,"use_case":209,"icon_asset_id":210},"Small business attorneys","Documenting entity selection rationale for new client engagements","persona-attorney",{"title":212,"use_case":213,"icon_asset_id":214},"CPAs and tax advisors","Walking clients through tax implications of each business structure","persona-cpa",{"title":216,"use_case":217,"icon_asset_id":218},"Small business owners restructuring","Evaluating whether to convert a sole proprietorship to an LLC or S-Corp","persona-small-business-owner",{"title":220,"use_case":221,"icon_asset_id":222},"Business consultants","Standardizing entity selection analysis across multiple client engagements","persona-business-consultant",{"title":224,"use_case":225,"icon_asset_id":226},"Co-founders and partnerships","Aligning multiple founders on entity choice before a partnership agreement is signed","persona-co-founders",[228,232,235,238,242,246,250],{"situation":229,"recommended_template":230,"slug":231},"Solo founder with no outside investors and minimal liability exposure","Sole Proprietorship Setup Checklist","checklist-how-to-setup-an-llc-D12995",{"situation":233,"recommended_template":106,"slug":234},"Two or more founders splitting ownership without formal incorporation","partnership-agreement-D12551",{"situation":236,"recommended_template":89,"slug":237},"Founder seeking pass-through taxation with personal liability protection","llc-operating-agreement-D5209",{"situation":239,"recommended_template":240,"slug":241},"Founder planning to raise venture capital or issue stock options","C-Corporation Formation Checklist","bylaws-not-for-profit-corporation-D1004",{"situation":243,"recommended_template":244,"slug":245},"Small business owner wanting S-Corp tax treatment","S-Corporation Shareholder Agreement","loan-agreement-stockholder-to-corporation-D418",{"situation":247,"recommended_template":248,"slug":249},"Nonprofit mission-driven organization","Nonprofit Articles of Incorporation","articles-of-incorporation-D998",{"situation":251,"recommended_template":252,"slug":253},"Existing business converting entity type mid-operation","Business Restructuring Plan","restructuring-agreement-D13034",[255,258,261,264,267,270,273,276,279,282,285,288],{"term":256,"definition":257},"Sole Proprietorship","A business owned and operated by a single individual with no legal separation between the owner and the business entity.",{"term":259,"definition":260},"Limited Liability Company (LLC)","A flexible business structure that provides personal liability protection to its members while allowing pass-through taxation.",{"term":262,"definition":263},"S-Corporation","A corporation that elects to pass corporate income, losses, deductions, and credits through to shareholders for federal tax purposes, avoiding double taxation.",{"term":265,"definition":266},"C-Corporation","A standard corporation taxed separately from its owners, subject to corporate income tax — the preferred structure for venture-backed startups.",{"term":268,"definition":269},"Pass-Through Taxation","A tax treatment in which business income is reported on the owner's personal tax return rather than at the entity level, avoiding corporate-level tax.",{"term":271,"definition":272},"Personal Liability","The legal exposure of an owner's personal assets — savings, home, car — to business debts and lawsuits when no liability shield exists.",{"term":274,"definition":275},"Operating Agreement","A governing document for an LLC that defines ownership percentages, management structure, profit distributions, and member rights.",{"term":277,"definition":278},"Articles of Incorporation","The formal legal document filed with a state or provincial authority to register a corporation, establishing its existence and basic governance rules.",{"term":280,"definition":281},"Registered Agent","A designated person or service authorized to receive legal and official government documents on behalf of a business entity.",{"term":283,"definition":284},"Double Taxation","The taxation of corporate profits at both the corporate level and again at the individual level when dividends are distributed to shareholders.",{"term":286,"definition":287},"Self-Employment Tax","A tax covering Social Security and Medicare contributions that sole proprietors and LLC members pay on net business income in the US.",{"term":289,"definition":290},"Piercing the Corporate Veil","A legal action in which a court holds owners personally liable for business debts because they failed to maintain proper separation between personal and business finances.",[292,297,302,307,312,317,322,327,332,337],{"name":293,"plain_english":294,"sample_language":295,"common_mistake":296},"Owner and Business Profile","Records the owner's name, address, proposed business name, industry, and the stage of business development to anchor all subsequent analysis.","Owner: [FULL LEGAL NAME] | Proposed Business Name: [BUSINESS NAME] | Industry: [INDUSTRY TYPE] | Stage: [Pre-launch / Operating / Restructuring] | State/Province of Formation: [JURISDICTION]","Completing the profile for a trade name rather than the intended legal entity name — if the names differ, the formation documents and this worksheet will reference different entities, creating ambiguity in legal filings.",{"name":298,"plain_english":299,"sample_language":300,"common_mistake":301},"Business Goals and Planning Horizon","Captures the owner's primary objectives — liability protection, tax minimization, investor readiness, or simplicity — and the expected operating horizon, since these factors directly determine which structures are appropriate.","Primary objective: [LIABILITY PROTECTION / TAX EFFICIENCY / INVESTOR READINESS / OPERATIONAL SIMPLICITY]. Expected operating horizon: [X] years. Anticipated revenue in Year 1: $[AMOUNT]. Number of owners: [NUMBER].","Selecting an entity type based solely on cost of formation without accounting for long-term tax consequences — an LLC costs $50–$500 to form but may result in thousands more in self-employment tax annually compared to an S-Corp election.",{"name":303,"plain_english":304,"sample_language":305,"common_mistake":306},"Liability Analysis","Evaluates the owner's personal liability exposure under each entity type and flags the industries or activities that make liability protection particularly critical.","Industry liability risk level: [HIGH / MEDIUM / LOW]. Personal asset exposure without liability shield: estimated $[AMOUNT]. Recommended minimum protection: [LLC / Corporation]. Notes: [e.g., 'operates in a regulated industry; professional liability exposure exists regardless of entity type.']","Assuming an LLC automatically protects personal assets without maintaining proper documentation, separate bank accounts, and operating formalities — courts can pierce the veil when these are absent.",{"name":308,"plain_english":309,"sample_language":310,"common_mistake":311},"Tax Treatment Comparison","Compares the tax treatment of each entity type — sole proprietorship, single-member LLC, multi-member LLC, S-Corp, and C-Corp — including self-employment tax, pass-through eligibility, and corporate tax exposure.","Sole Proprietorship: all net income subject to self-employment tax (15.3% on first $[THRESHOLD]). LLC (default): same as sole proprietorship unless S-Corp election made. S-Corp: salary of $[REASONABLE COMP] subject to payroll tax; remaining distributions are not. C-Corp: corporate tax rate [X]%; dividends taxed again at individual rate.","Treating LLC and S-Corp taxation as identical — an LLC with an S-Corp election can reduce self-employment tax on distributions above a reasonable salary, but requires payroll setup and additional compliance costs that erode the benefit for businesses earning less than ~$40,000 in net profit.",{"name":313,"plain_english":314,"sample_language":315,"common_mistake":316},"Ownership and Control Structure","Documents the number of owners, their ownership percentages, voting rights, and management roles to determine which entity structures are compatible with the intended governance arrangement.","Number of owners: [NUMBER]. Ownership split: [OWNER 1 NAME] — [X]%, [OWNER 2 NAME] — [X]%. Management: [Member-managed / Manager-managed / Board-governed]. Voting threshold for major decisions: [MAJORITY / SUPERMAJORITY / UNANIMOUS].","Choosing a sole proprietorship or single-member LLC when a co-founder relationship exists — even an informal co-founder arrangement requires a formal multi-owner structure with a written agreement to avoid disputes over ownership and control.",{"name":318,"plain_english":319,"sample_language":320,"common_mistake":321},"Formation Cost and Compliance Requirements","Outlines the one-time formation costs and ongoing annual compliance obligations — filing fees, registered agent fees, annual reports, franchise taxes — for each entity type under consideration.","Sole Proprietorship: $0 formation, minimal compliance. LLC: state filing fee $[AMOUNT], annual report $[AMOUNT], registered agent $[AMOUNT]/yr. S-Corp: same as LLC plus payroll setup ~$[AMOUNT]/yr. C-Corp: state filing $[AMOUNT], registered agent, annual meeting minutes, stock ledger maintenance.","Selecting a C-Corp for a two-person service business because 'it sounds most professional' — C-Corp compliance requirements (board minutes, stock ledger, annual meetings) add $1,500–$5,000/year in accounting and legal overhead that is unnecessary for most small businesses.",{"name":323,"plain_english":324,"sample_language":325,"common_mistake":326},"Investor and Financing Readiness","Assesses whether the business intends to raise equity capital, issue stock options, or take on institutional investors — factors that typically require a Delaware C-Corp structure.","Anticipated equity fundraising: [YES / NO / UNDECIDED]. Expected funding stage: [Pre-seed / Seed / Series A / None]. Stock option plan required: [YES / NO]. Preferred entity for institutional VC investment: Delaware C-Corporation. Notes: [ADVISOR NOTES ON INVESTOR REQUIREMENTS].","Forming an LLC when venture capital is the intended funding path — most institutional investors will not invest in an LLC, requiring a costly conversion to a C-Corp that could have been avoided at formation.",{"name":328,"plain_english":329,"sample_language":330,"common_mistake":331},"State and Jurisdiction Selection","Identifies the optimal state or province for formation based on operational location, tax environment, franchise tax obligations, and legal protections.","Primary operating state: [STATE]. Proposed formation state: [STATE]. Reason for out-of-state formation (if applicable): [e.g., 'Delaware for legal infrastructure and investor preference']. Foreign qualification required in: [STATES / PROVINCES]. Estimated franchise tax liability: $[AMOUNT]/yr.","Forming in Delaware or Nevada 'for tax benefits' when the business operates entirely in another state — this requires foreign qualification in the home state anyway, doubling filing fees and registered agent costs with no net tax advantage for most small businesses.",{"name":333,"plain_english":334,"sample_language":335,"common_mistake":336},"Recommended Entity Selection and Rationale","Records the final entity recommendation, the primary reasons for the selection, and any conditions or next steps required before formation.","Recommended Entity: [ENTITY TYPE]. Primary reasons: (1) [REASON], (2) [REASON], (3) [REASON]. Conditions precedent to formation: [e.g., 'co-founder agreement to be signed simultaneously']. Next steps: (1) File [DOCUMENT] with [AGENCY] by [DATE], (2) Open business bank account, (3) Draft operating agreement.","Filling in a recommendation without documenting the reasoning — if the business is ever audited, disputed, or restructured, an undocumented entity choice gives the IRS or a court no basis for the original decision.",{"name":338,"plain_english":339,"sample_language":340,"common_mistake":341},"Owner and Advisor Acknowledgment","A signature block confirming that the owner has reviewed the analysis, understands the implications of the selected entity type, and has been advised to consult legal and tax professionals before finalizing the decision.","Owner: I, [OWNER FULL NAME], acknowledge that I have reviewed this worksheet and understand that this document is an analytical tool, not legal or tax advice. I agree to consult a licensed attorney and/or CPA before filing formation documents. Signature: _______________ Date: [DATE]. Advisor (if applicable): [ADVISOR NAME, CREDENTIAL] Signature: _______________ Date: [DATE].","Omitting the advisor acknowledgment block when a CPA or attorney assisted in completing the worksheet — without the advisor's signature, their involvement and the advice given are undocumented, creating liability exposure for both parties.",[343,348,353,358,363,368,373,378],{"step":344,"title":345,"description":346,"tip":347},1,"Complete the owner and business profile section","Enter the owner's full legal name, the proposed business name, industry classification, state or province of intended formation, and the current stage of the business. Use the legal name you intend to register — not a trade name or DBA.","Run a business name availability search in your formation state before completing this section. Discovering a name conflict after the worksheet is complete wastes time.",{"step":349,"title":350,"description":351,"tip":352},2,"Define your primary business goals and planning horizon","Rank your top three priorities among liability protection, tax minimization, investor readiness, and operational simplicity. Enter your expected operating horizon and Year 1 revenue estimate. These inputs drive the entire entity recommendation.","If investor readiness ranks in your top two priorities, a Delaware C-Corp is almost certainly the right answer — document this early to avoid revisiting it later.",{"step":354,"title":355,"description":356,"tip":357},3,"Complete the liability analysis","Identify the industry-specific liability risks your business faces and estimate the value of personal assets you would expose without a liability shield. Note any professional licensing requirements, as some professions require a PLLC or PC rather than a standard LLC.","If you are in a licensed profession — medicine, law, accounting, engineering — confirm with your state licensing board which entity types are permitted before completing this section.",{"step":359,"title":360,"description":361,"tip":362},4,"Fill in the tax treatment comparison","Enter the applicable tax rates, self-employment tax thresholds, and estimated net profit for Year 1. Compare the after-tax income under each entity type to quantify the tax difference — not just the conceptual distinction.","The S-Corp election typically starts generating net tax savings when annual net profit exceeds $40,000–$60,000. Below that threshold, payroll setup costs often erode the benefit.",{"step":364,"title":365,"description":366,"tip":367},5,"Document the ownership and control structure","List every owner, their ownership percentage, and their intended management role. Confirm the voting threshold required for major decisions. Any structure with two or more owners automatically eliminates sole proprietorship as an option.","If ownership is anything other than 50/50 or clearly majority-controlled, document the tiebreaker mechanism now — ambiguity here is the most common source of co-founder disputes.",{"step":369,"title":370,"description":371,"tip":372},6,"Compare formation costs and annual compliance obligations","Research the current filing fees, annual report fees, and registered agent costs for your formation state. Add estimated accounting costs specific to each entity type. Total the first-year and ongoing annual cost for each option.","Call your state's Secretary of State office or check their website directly — formation fee schedules change annually and third-party sites often publish outdated numbers.",{"step":374,"title":375,"description":376,"tip":377},7,"Record the recommended entity and rationale","Select the recommended entity type, document the three to five primary reasons supporting the choice, and list the specific next steps — filing, bank account, operating agreement — with responsible parties and target dates.","Attach this completed worksheet to the formation file so any attorney, accountant, or future partner can see the documented reasoning for the original structure decision.",{"step":379,"title":380,"description":381,"tip":382},8,"Obtain signatures from owner and advisor","Have the owner and any participating advisor sign and date the acknowledgment block before taking any formation steps. The signature confirms the analysis was reviewed and that the owner understands this worksheet is analytical, not a substitute for legal advice.","Date the signature within 30 days of the intended formation filing — a worksheet signed months before the actual filing may not reflect current tax law or the owner's updated circumstances.",[384,388,392,396,400,404],{"mistake":385,"why_it_matters":386,"fix":387},"Choosing entity type based on formation cost alone","A sole proprietorship costs nothing to form but exposes all personal assets to business debts and lawsuits. A $500 LLC filing fee can protect a lifetime of personal savings.","Complete the liability and tax sections of the worksheet before reviewing formation costs — the cost comparison is the last input, not the first.",{"mistake":389,"why_it_matters":390,"fix":391},"Forming an LLC when venture capital is planned","Institutional venture capital investors almost universally require a Delaware C-Corp. Converting an LLC to a C-Corp mid-stream triggers tax events and legal fees of $5,000–$20,000 that a correct initial selection would have avoided.","Complete the investor and financing readiness section of the worksheet before any formation filing. If VC is even a possibility, consult a startup attorney before deciding.",{"mistake":393,"why_it_matters":394,"fix":395},"Ignoring state-specific franchise and excise taxes","California imposes an $800 minimum franchise tax on all LLCs regardless of revenue. Texas, Delaware, and other states have their own franchise tax structures. Selecting a formation state without modeling these costs produces inaccurate total cost-of-ownership comparisons.","Research the franchise tax and annual compliance costs for every state where the business will operate — not just where it will be formed — and include these in the cost comparison section.",{"mistake":397,"why_it_matters":398,"fix":399},"Completing the worksheet without an attorney or CPA review","Entity selection has permanent tax and legal consequences that are difficult and expensive to unwind. An error in the worksheet that leads to an incorrect formation filing can take 12–24 months and thousands of dollars to correct.","Treat this worksheet as preparation for — not a replacement for — a one-hour consultation with a business attorney and a CPA. Most advisors charge $200–$400 for a formation-focused review session.",{"mistake":401,"why_it_matters":402,"fix":403},"Failing to document the rationale for the selected entity","Without a written record, the reasoning behind the original entity choice is lost when advisors change, co-founders dispute ownership, or the IRS questions the structure.","Complete the recommended entity and rationale section in full and store the signed worksheet with the company's permanent formation records.",{"mistake":405,"why_it_matters":406,"fix":407},"Using a trade name instead of the intended legal entity name","A worksheet completed under a DBA or brand name creates a mismatch with the formation documents, state filings, and tax registrations — triggering corrections across multiple government agencies.","Confirm the exact legal entity name you plan to register — after a name availability search — before completing any section of the worksheet.",[409,412,415,418,421,424,427,430,433],{"question":410,"answer":411},"What is a worksheet business selection document?","A worksheet business selection is a structured analytical document that guides a business owner through a systematic comparison of available legal entity types — sole proprietorship, partnership, LLC, S-Corp, and C-Corp — before formation. It evaluates liability exposure, tax treatment, ownership structure, formation costs, and investor readiness side by side to produce a documented rationale for the entity choice. Both the owner and any participating advisor typically sign the completed worksheet to acknowledge the analysis.\n",{"question":413,"answer":414},"Why does choosing a business entity require a formal document?","Entity selection has permanent legal and tax consequences that are expensive to undo. A documented worksheet creates a written record of the analysis and the reasoning behind the decision — useful when co-founders dispute ownership later, when the IRS questions the structure, or when a new accountant or attorney needs to understand the original intent. It also ensures the owner considered all relevant factors rather than defaulting to the cheapest or most familiar option.\n",{"question":416,"answer":417},"What are the main business entity types covered in this worksheet?","The worksheet covers five primary structures: sole proprietorship (simplest, no liability protection), general partnership (shared ownership, no entity-level liability shield), limited liability company or LLC (flexibility plus liability protection), S-Corporation (pass-through tax with payroll tax savings above a threshold), and C-Corporation (separate taxable entity, preferred for venture-backed startups). Professional entities — PLLC and PC — are also noted for licensed professions where standard LLCs may not be permitted.\n",{"question":419,"answer":420},"What is the difference between an LLC and an S-Corp?","An LLC is a legal structure that determines liability protection and ownership mechanics. An S-Corp is a tax election that can be made by an LLC or a corporation. An LLC taxed as an S-Corp allows the owner to pay themselves a reasonable salary — subject to payroll tax — and take additional profits as distributions that are not subject to self-employment tax. This distinction becomes meaningful when annual net profit exceeds approximately $40,000–$60,000.\n",{"question":422,"answer":423},"Should I form in Delaware even if I operate in another state?","Delaware formation is generally advantageous only for businesses planning to raise institutional venture capital, where investors and their counsel expect Delaware law. For most small businesses operating in a single state, forming in the home state avoids the cost of foreign qualification — registering in a second state — plus duplicate registered agent and filing fees. The worksheet's jurisdiction section walks through this analysis based on your specific situation.\n",{"question":425,"answer":426},"Is a worksheet business selection document legally binding?","The worksheet itself is generally not a binding legal contract between the owner and a third party. However, the signed acknowledgment section creates a documented record of the analysis and the owner's informed consent to proceed — which can be relevant in disputes between co-founders, in attorney-client engagement documentation, or in demonstrating due diligence to the IRS. The underlying entity formation documents filed with the state are the legally operative instruments.\n",{"question":428,"answer":429},"Do I need a lawyer to complete a business selection worksheet?","A well-structured template enables most business owners to complete the analytical sections independently. However, the completed worksheet should be reviewed by a business attorney and a CPA before any formation filing is made. Entity selection involves interacting tax, liability, and governance considerations that are difficult to fully evaluate without professional input. A one-hour review session typically costs $200–$400 and is worthwhile for any business with meaningful revenue or liability exposure.\n",{"question":431,"answer":432},"What happens if I choose the wrong business entity?","Correcting an incorrect entity selection typically requires dissolving the original entity, forming the new one, transferring assets, updating all contracts and bank accounts, re-registering with tax authorities, and potentially triggering a taxable event. Total costs commonly run $3,000–$15,000 in legal and accounting fees plus the time disruption to the business. In some cases — particularly LLC-to-C-Corp conversions for VC fundraising — the process can take two to three months. The worksheet exists specifically to avoid this outcome.\n",{"question":434,"answer":435},"Can this worksheet be used when restructuring an existing business?","Yes. The worksheet is equally applicable to conversion analysis — for example, when a sole proprietor wants to form an LLC, or when an LLC owner wants to elect S-Corp tax treatment. The same liability, tax, ownership, and cost comparison sections apply. The key difference is that a restructuring analysis must also account for the tax consequences of the conversion itself, which requires a CPA's input before any action is taken.\n",[437,441,445,449],{"industry":438,"icon_asset_id":439,"specifics":440},"Professional Services","industry-professional-services","Licensed professionals such as attorneys, CPAs, and engineers often must form a PLLC or PC rather than a standard LLC — the worksheet flags this licensing constraint before the owner files incorrect formation documents.",{"industry":442,"icon_asset_id":443,"specifics":444},"Technology / SaaS","industry-saas","Venture-backed startups almost universally require a Delaware C-Corp; the investor readiness section of the worksheet identifies this early and prevents costly LLC-to-C-Corp conversions after a term sheet is signed.",{"industry":446,"icon_asset_id":447,"specifics":448},"Retail / E-commerce","industry-retail","Multi-state sales tax obligations and inventory liability make LLC formation with an S-Corp election common in this sector; the worksheet's tax and jurisdiction sections capture these considerations systematically.",{"industry":450,"icon_asset_id":451,"specifics":452},"Construction and Trades","industry-construction","High liability exposure from job-site accidents and contractor disputes makes the LLC or corporation liability shield particularly critical; the worksheet's liability analysis section quantifies the personal asset exposure without that protection.",[454,457,460,464],{"vs":89,"vs_template_id":455,"summary":456},"llc-operating-agreement-D12671","A worksheet business selection is used before formation to determine which entity type is appropriate. An LLC operating agreement is the governing document executed after an LLC is formed, defining membership, management, and profit distribution. The worksheet precedes the operating agreement — you complete the worksheet to confirm an LLC is the right choice, then draft the operating agreement to govern it.",{"vs":106,"vs_template_id":458,"summary":459},"partnership-agreement-D164","A partnership agreement governs the relationship between partners in an already-formed partnership — covering capital contributions, profit splits, and exit rights. A business selection worksheet is completed before any entity is formed, and may conclude that a partnership is not the optimal structure at all. Use the worksheet first; draft the partnership agreement only if the analysis confirms a general or limited partnership is appropriate.",{"vs":461,"vs_template_id":462,"summary":463},"Business Plan","business-plan-canvas-(one-page)-D12527","A business plan presents the market opportunity, strategy, and financials to investors or lenders. A business selection worksheet addresses the narrower question of legal structure — liability, tax treatment, and governance — before operations begin. Most founders need both, but they serve distinct purposes: the business plan is external-facing and strategic; the worksheet is internal, legal, and foundational.",{"vs":277,"vs_template_id":465,"summary":466},"D{ARTICLES_OF_INCORPORATION_ID}","Articles of incorporation are the formal government filing that legally creates a corporation — they are the output of the entity selection decision. A business selection worksheet is the analytical step that precedes the filing, documenting why a corporation was chosen and which state to file in. Completing the worksheet before drafting articles of incorporation ensures the filing reflects an informed, documented decision.",{"use_template":468,"template_plus_review":472,"custom_drafted":476},{"best_for":469,"cost":470,"time":471},"Solo founders or small business owners forming a straightforward domestic LLC or sole proprietorship with no outside investors","Free","1–2 hours",{"best_for":473,"cost":474,"time":475},"Multi-owner businesses, S-Corp elections, or any formation in a state with complex franchise tax rules","$200–$500 for a one-hour attorney and CPA review session","2–5 days",{"best_for":477,"cost":478,"time":479},"Venture-backed startups, licensed professionals with entity-type restrictions, or multi-state or international operations","$500–$2,500 for a full formation package with attorney-drafted operating agreement or bylaws","1–2 weeks",[481,486,491,496],{"code":482,"name":483,"flag_asset_id":484,"note":485},"us","United States","flag-us","Entity selection is governed at the state level in the US — there is no federal business formation statute. Delaware, Wyoming, and Nevada offer business-friendly LLC statutes and are popular formation states for out-of-state operators, but businesses must also register as a foreign entity in their home state, adding cost. California imposes an $800 annual minimum franchise tax on all LLCs, regardless of revenue. The IRS recognizes sole proprietorships, partnerships, LLCs (disregarded entity, partnership, or S-Corp election), and C-Corps as distinct tax classifications.",{"code":487,"name":488,"flag_asset_id":489,"note":490},"ca","Canada","flag-ca","Canadian business structures include sole proprietorship, general partnership, and incorporation at either the federal level (Canada Business Corporations Act) or provincial level. The Canadian equivalent of the US LLC is the corporation with a unanimous shareholder agreement, as true LLC structures are not available in most provinces. Quebec operates under civil law, which affects the drafting and interpretation of shareholder and partnership agreements. Federal incorporation offers national name protection but requires registration in each province where the business operates.",{"code":492,"name":493,"flag_asset_id":494,"note":495},"uk","United Kingdom","flag-uk","UK business structures include sole trader, ordinary business partnership, limited liability partnership (LLP), and private limited company (Ltd). The LLP is the closest equivalent to a US LLC and is common for professional services firms. Private limited companies are governed by the Companies Act 2006 and require filing annual confirmation statements and accounts at Companies House. Scotland operates under Scots law, which differs from English law in partnership and property matters. The choice between an LLP and a Ltd company is primarily driven by tax treatment and investor expectations.",{"code":497,"name":498,"flag_asset_id":499,"note":500},"eu","European Union","flag-eu","EU member states each have their own business formation laws — there is no single pan-EU entity type for small businesses. The most common private company equivalents are the GmbH (Germany and Austria), SARL (France and Luxembourg), SL (Spain), and BV (Netherlands). Formation requirements, minimum capital obligations, and annual compliance costs vary significantly by country. Businesses operating across multiple EU member states may consider a Societas Europaea (SE) for simplified cross-border governance, though this is typically used only by larger enterprises. GDPR compliance obligations apply to all entities regardless of structure.",[237,234,502,503,504,462,505,506,507,508,509,510],"non-disclosure-agreement-nda-D12692","independent-contractor-agreement-D160","adhesion-to-the-unanimous-shareholder-agreement-D848","employment-agreement_at-will-employee-D541","joint-venture-agreement-D889","buy-sell-agreement-D12611","founders-agreement-D12653","corporate-governance-policy-D13943","intellectual-property-assignment-D5229",{"emit_how_to":195,"emit_defined_term":195},{"primary_folder":98,"secondary_folder":513,"document_type":514,"industry":515,"business_stage":516,"tags":517,"confidence":521},"incorporation-and-bylaws","worksheet","general","startup",[518,516,519,520,514],"incorporation","business-entity-selection","legal-structure",0.92,"\u003Ch2>What is a Worksheet Business Selection?\u003C/h2>\n\u003Cp>A \u003Cstrong>Worksheet Business Selection\u003C/strong> is a structured legal document that guides business owners, founders, and their advisors through a systematic comparison of available entity types — sole proprietorship, partnership, LLC, S-Corp, and C-Corp — before any formation filing is made. It evaluates liability exposure, tax treatment, ownership structure, compliance costs, investor readiness, and jurisdiction-specific considerations side by side, producing a written record of the analysis and the rationale for the final entity choice. Unlike a generic checklist, a properly completed business selection worksheet is signed by both the owner and any participating advisor, creating a documented acknowledgment that the decision was made with full awareness of its legal and tax consequences.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Entity selection is one of the most consequential decisions a business owner makes — and one of the most commonly made without adequate analysis. Choosing the wrong structure can mean unlimited personal liability for business debts, thousands of dollars in avoidable self-employment taxes each year, or a forced and expensive conversion when an investor requires a Delaware C-Corp and you formed an LLC in your home state. Without a documented worksheet, there is no written record of why the structure was chosen, which becomes a serious problem when co-founders dispute ownership, the IRS questions the classification, or a new attorney needs to understand the formation history years later. This template forces the analysis to happen before the filing — not after — and creates the paper trail that protects the decision long-term.\u003C/p>\n",1781185916522]