Brand
We mean business
Comprehensive legal services for businesses
in New Jersey and New York

COVID-19 Notice: In order to best serve you, while being mindful of your health and safety, we are available for consultations and conferences via telephone and video. We can arrange for documents to be prepared, reviewed, signed and exchanged electronically. We are ready to assist you with all of your legal needs.

We are open and ready to assist you. Go to our COVID-19 Updates page to see our latest statement on the crisis and a list of recent news and developments during this challenging time.
GO
Close
top-contextual
comprehensive legal services for businesses

Public offering reminds businesses to consider entity form

Businesses big and small need to consider how they want to organize. There are many different entity forms that businesses in New Jersey can choose from including corporations, partnerships and limited liability companies. Each entity form will have advantages and disadvantages for a business. People need to consider how each entity will affect the business in the future and its potential to reach a greater audience.

Online textbook company, Chegg, has recently announced that it plans to go public, thereby changing its entity form. Chegg was founded eight years ago and primarily rents college textbooks to undergraduate students who do not want to buy course books. The company has 180,000 books and has completed an estimated 3.7 million transactions with its five million visitors.

Chegg recently filed documentation with the SEC in order to offer stock options to public investors. According to the company, it wants to raise $150 million in its initial public offering to expand the business. Currently, the business is competing with many campus book stores — including at least 12 in New Jersey — that have started to offer students the option of renting their semesters’ books.

Business entity and other business formation issues can be complex and require expert attention. Depending on the type of business, the type of entity chosen and a variety of other factors, New Jersey businesses could be required to prepare and file certain legal documents before they can open for business. Furthermore, businesses may need the appropriate approvals from local, state or federal agencies before their business can operate. By understanding and preparing for these issues, New Jersey companies will put themselves in a better position to be successful.

Source: The Star-Ledger, “Textbook rental company Chegg going public,” Stacy Jones, Aug. 14, 2013

Office Location

Dunn Lambert, LLC
East 80 Route 4 Suite 170
Paramus, NJ 07652

Paramus Law Office Map

Dunn Lambert, LLC
1745 Broadway, 17th Floor
New York, NY 10019
New York Law Office Map


Phone: 201-957-0874
Fax: 201-291-0140

Phone: 201-291-0700
Fax: 212-519-9804
Best Lawyers | Best Law Firms | U.S.News & world report | 2017

GET ANSWERS from a firm
with a sense of business.

Archives

Review US
FindLaw Network