Starting a new business or moving a business to West Virginia will require some extensive study and research in order to ensure that you are abiding by local law. Considering that some of the laws and legal ramifications in the state are somewhat arcane and difficult to understand, it is doubly important that you make sure you understand completely what you are getting into before moving to the state or incorporating in the state. Business law in West Virginia, like other states, is unique and requires all manner of different types of licensing and filings. If you are already familiar with businesses and filings to start a business, then it is very likely not a tremendous level of difficulty for you to comprehend the licenses that you must maintain. While some businesses can get away with a simple occupational license, there are those businesses that cannot operate at all without being incorporated under the articles of the state. With these articles of incorporation, you will be required to provide all manner of information and be at the mercy of the state to conduct business.
Understanding Incorporation
Incorporation of a business means exactly what it sounds like, incorporating the various elements of the business into one. There are many different types of corporations available and you can incorporate your business under any type of proprietorship you feel necessary. With a sole proprietor ship, you're left with a tremendous amount of liability, as there is only one individual responsible for making all the decisions in the company. With other types of corporations, you can reduce your liability tremendously and avoid all manner of difficulty later on in the case of legal rulings. In fact, choosing between the different types of corporations will regulate the amount of liability that you're responsible for. There are different types of corporations, including limited liability corporations, sole proprietorships, S-type incorporations and even joint ventures and other types of incorporation procedures. In order to understand these different types of corporations, you should put forth some further study. But it is important to understand that, for some businesses, you simply cannot conduct business at all without being incorporated.
Conducting Business
Once you're incorporated, it is a simple matter to conduct business in the state of West Virginia, providing that you are compliant with all the laws. In some cases, you will have to look for further licensing and insurance to comply with state law. In the case of most construction and other types of labor intensive work, you will be required to pay all manner of workers comp insurance as well as liability insurance. Workers compensation insurance will protect you in the case of injury, while liability insurance will protect you in the case of property damage. Understanding all of these different laws is essential to your success in West Virginia.
