Starting a Business in Colorado?

This video features Samantha L. Pryor, Esq., a Business Law attorney based in Colorado.

Denver Business Attorney Explains Memorandums of Understanding

Video Transcript:

Rob Rosenthal: 

What should new business owners know when they're first setting up the company? Let's ask Denver lawyer Samantha Pryor for an Ask The Lawyers Quick Question.

Samantha Pryor:

So it's important that people understand how to set up the business correctly, but then also I think what I see most times in my practice is when you have more than one person who wants to start a business, and so before you get started on the business, it's important that the owners or the potential owners, that they have an understanding and a written agreement or some sort of document to memorialize their understanding, so a Memorandum of Understanding is a good way to start the relationship because just short of a formal agreement, the MOU will be there to protect the parties in the event there is a dispute before the business is actually formed, so having the appropriate agreement is gonna be really important for people who want to start businesses, especially when they want to go into business with other people.

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