Legal Question in Business Law in Colorado
Bonded and Insured
I am planning to start a cleaning business. Do I need to be bonded and insured, what are the benefits, and where does one go to become bonded and insured? Does one need an attorney when starting a new business?
1 Answer from Attorneys
Re: Bonded and Insured
Whether you need an attorney is a question that you must answer.
You must register with the state for a variety of reasons. You can look for this information on the state website.
You may be interested in setting up a corporation for your business. The most common reasons for this are to limit liability and to control taxes. If more than one person will own the business, then an agreement as to who does what and who contributes what etc may be important. These issues usually are not as important now as they will be if you try to sell the business or if one owner wants to leave the business etc.
As for bonded and insured, there may be some laws requiring it. You can contact an insurance agent regarding this information - business insurance.
Good luck-
contact me if you want to set up a corporation.
jason
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