Legal Considerations When Forming Your Business with Wesley Henderson

The COPreneur Path Podcast

It's easy to skip to the fun stuff when starting a business like picking a name, or designing a logo and a website. But if you want to do things correctly, you need to consider the legal aspects of starting your business first. Particulars like whether to form your business as a Sole Proprietor, an LLC, or an S-Corporation. And how to do those things without spending an arm and a leg while maintaining a high degree of liability and legal coverage.
Wesley Henderson has years of experience helping entrepreneurs do just that. He started Drafted Legal as an inexpensive online resource for startups with legal templates and guides to get you started off on the right foot. Listen to this episode to learn about the most important factors to consider when starting a business to help keep both you and your customers safe and happy on your path to success.
Get all the links, resources and show notes at https://leo2ceo.com/copreneur-path/056
About Wesley Henderson
Driven by his passion for and experience in running a small business, Wesley understands what it takes to start and run a lean business, and is passionate about helping other businesses do the same. He is also a practicing attorney, and is trusted by everyone from mom and pops to multi-million dollar companies to draft legal documents to ensure their businesses are covered.
Wesley spent the beginning of his career working for a big law firm, but ultimately felt unfulfilled. It was then that he realized his passion was to use his big law firm experience to help small business owners live out their own dreams. That passion fueled him to start his own practice with his brother, Henderson and Henderson.
And that’s what makes Drafted Legal unique: You get access to legal templates on a startup budget, but if you’re ever in over your head, you can get help from a real life attorney, too.
Wesley graduated magna cum laude from Wofford College before receiving his law degree from the University of South Carolina School of Law where he was awarded the Justice J.B. Ness Scholarship. Wesley is a South Carolina Bar Certified Mediator. He and his wife live in Charleston, South Carolina with their two sons (and third on the way).
Web/Social Links

• Website: https://draftedlegal.com/
• LinkedIn: https://www.linkedin.com/in/wesleyehenderson/

Highlights
[00:49] Welcome to Episode 56!
[04:37] What Drafted Legal is all about and how it can help new and existing entrepreneurs.
[10:59] How to determine what type of business structure to start with. Sole Proprietor? LLC? S-Corp?
[13:38] How you do one thing is how you do everything. Professionalism carries through from the start.
[15:24] Why you need to protect yourself with an LLC to start.
[18:45] Business Brief 22: A Secret Method to Getting More Reach on LinkedIn
[20:26] What should you name your business? What to consider and where to do your research.
[24:38] Wesley outlines the types of templates and resources found on Drafted Legal.
[26:49] Drafted Legal will file your LLC within 7 days to get you up and running right away.
[27:28] It is important to be empowered to know what your documents say to protect yourself.
[27:41] Being able to create fair agreements can protect you up front.
[30:01] It is about building a trusting relationship.
[30:43] Learn how you can tap into Drafted Legal to help get yourself legally dialed in.
[32:48] Reveal: Business Starter Kits are in the works!
Resources Discussed/Links

• https://www.LEO2CEO.com - A resource for cops who want to start their own business.
• https://www.LEO2CEO.com/DraftedLegal - Use coupon code "LEO2CEO" to get a 10% discount!