- Henry Park
An ounce of prevention
There is an article in the NY Times about the state of a billion dollar business called Transperfect. The article is a cautionary tale concerning how two founders saved some money when they formed their business by not having their business relationship properly documented, and how that decision has cost them their business. When you are forming your business, it may seem like a good decision to save some money by not having your attorneys prepare your business formation documents. However, it isn't wise. Spending some money up front will invest the founders in the business and will clearly define your relationships, thus reducing internal disagreements.