A legal checklist for starting a business in Illinois

The decisions you make in your first month shape your taxes, your liability and how easily you can raise money later. Here's the short list we walk founders through.

Choose the right entity

An LLC offers flexibility and pass-through taxation; a corporation is usually expected if you plan to raise venture capital. The right answer depends on your growth plans, not just today's tax bill.

Put the founders' agreement in writing

Vesting, decision-making and what happens if someone leaves are far easier to agree on before there's money at stake.

Protect your name early

A trademark clearance search before you print signs or build a website can save a painful rebrand.

Get your customer terms right

Clear terms of service, payment terms and limitation of liability clauses prevent most small-business disputes.