{"id":10168,"date":"2023-01-02T19:49:38","date_gmt":"2023-01-02T17:49:38","guid":{"rendered":"https:\/\/rockbridge.legal\/some-important-things-to-consider-before-starting-your-business\/"},"modified":"2026-07-16T12:02:14","modified_gmt":"2026-07-16T09:02:14","slug":"some-important-things-to-consider-before-starting-your-business","status":"publish","type":[69],"link":"https:\/\/rockbridge.legal\/en\/some-important-things-to-consider-before-starting-your-business\/","title":{"rendered":"SOME IMPORTANT THINGS TO CONSIDER BEFORE STARTING YOUR BUSINESS"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"10168\" class=\"elementor elementor-10168 elementor-1784\" data-elementor-settings=\"{&quot;ha_cmc_init_switcher&quot;:&quot;no&quot;}\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-1a761773 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1a761773\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-53b6dbb5\" data-id=\"53b6dbb5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-367af255 elementor-widget elementor-widget-post-info\" data-id=\"367af255\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-a470701 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t<a href=\"https:\/\/rockbridge.legal\/en\/2023\/01\/02\/\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-calendar\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\t<time>January 2, 2023<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-1d75820 elementor-inline-item\">\n\t\t\t\t\t\t<a href=\"#\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-user-circle\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-custom\">\n\t\t\t\t\t\t\t\t\t\tBy  Viktorija Jarkina\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4377ff26 elementor-widget elementor-widget-text-editor\" data-id=\"4377ff26\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>To start a legal business, several aspects and issues are significant, which are not always well-considered before launching. Likewise, a legal entity is required that is permitted to conduct economic activity, namely a merchant, which can be a natural person (individual merchant) or a commercial company, which is a partnership (limited partnership or general partnership) and a capital company (joint-stock company or limited liability company). In Latvia, when starting a business, limited liability companies (hereinafter \u2013 <b>SIA<\/b>) are most frequently chosen. This could be related to: 1) requirements set forth in the law for an SIA; 2) their attractiveness and feasibility; 3) the limitation of shareholder liability from the liability of the SIA; 4) other potential advantages compared to other legal forms of economic operators.        <\/p><p>The purpose of establishing an SIA is to conduct economic activity, generate profit, gain recognition, develop, and expand. When establishing an SIA, there are usually big plans and a desire for everything to go well; unfortunately, things do not always go as desired. Undoubtedly, every business carries several economic risks, and it is difficult, or more accurately, impossible to 100% guarantee that a business will be profitable. Furthermore, today, considering the impact of the pandemic and the war in Ukraine on business, predicting business development and generating profit is becoming increasingly difficult. However, this publication will not discuss financial and economic risks, which must also be kept in mind before establishing an SIA, but outlines some legal risks that should ideally be resolved even before the SIA is founded.     <\/p><p><b>FRIENDS TODAY, ENEMIES TOMORROW <\/b><\/p><p>In practice, there are many cases where even good friends, upon starting a business and becoming business partners or board members, later become enemies and litigants in court. This does not mean the author suggests refraining from establishing an SIA between friends and relatives, or not appointing a friend to the board. What is important and often forgotten is that the law minimally regulates the relationship between SIA shareholders, as well as between SIA shareholders and the board. Undoubtedly, mutual trust is an important element of a successful business, but it alone is not enough. When a dispute arises between shareholders or between shareholders and the board, several problems can emerge that may lead to multiple lawsuits or even the insolvency of the SIA or the paralysis of the business. Many want to register an SIA as quickly as possible, start economic activity, and make a profit without thinking about the fact that later, several problems and differences of opinion may arise between shareholders or between shareholders and the board. This is not relevant if the SIA has only one shareholder who is also the sole board member and no changes in this regard are planned for the SIA. However, in all other situations where the SIA has more than one shareholder, it is important for the shareholders to agree and sign a shareholders&#8217; agreement before establishing the SIA, detailing mutual relations, competence and responsibility, financing of the SIA, distribution of profits, business development directions, rules on the alienation of shares and the sale of the business, as well as other provisions relevant to the specific case, which of course must be viewed individually for each specific situation.       <\/p><p>The Commercial Law does not impose a mandatory requirement to sign a shareholders&#8217; agreement when establishing an SIA, and in practice, such agreements are often not concluded. Despite the fact that a shareholders&#8217; agreement cannot always resolve everything, the existence of such an agreement can significantly reduce potential shareholder disputes and promote the stable operation and development of the SIA. <\/p><p>The second equally important issue is the articles of association of the SIA. Unlike a shareholders&#8217; agreement, articles of association are a mandatory requirement when establishing an SIA. However, the Commercial Law sets only minimum requirements for the information to be included in the articles of association, requiring the specification of: the company name, the term of operation or purpose (if the SIA is established for a specific period or to achieve a specific goal), the amount of share capital, the number of shares, and their nominal value; if the company has different categories of shares \u2014 the categories of shares (specifying the rights arising from each category) and the number and nominal value of shares in each category; the rights of the company&#8217;s board members to represent the SIA individually or jointly; the numerical composition of the board (if provided for); the numerical composition of the council (if the company is to have a council); special provisions for the alienation of shares (if provided for); other provisions that the founders consider significant and that are not contrary to the law. The articles of association may not contain provisions that contradict the law. However, they can specify everything that might be important and applicable to the operation of the SIA, the competence and restrictions of the board, referring several matters to the shareholders&#8217; meeting for review.     <\/p><p>The Commercial Law precisely defines the matters that fall within the exclusive competence of the shareholders&#8217; meeting. Such matters include: making amendments to the articles of association; increasing or decreasing the share capital; electing and recalling council members; electing and recalling board members; approving the annual report and profit distribution; electing and recalling the auditor, company controller, and liquidator; making a decision on bringing an action against a board member, council member, founder, or shareholder and on appointing a company representative to conduct the case in court; making a decision on the termination, continuation, suspension, renewal, or reorganization of the company&#8217;s activities, as well as the conclusion, amendment, or termination of a group agreement. If shareholders want greater competence and more matters to be coordinated with them, all of this must be included in the SIA&#8217;s articles of association.  <\/p><p>It is also important to note that the law, with a few exceptions (for example, concluding a transaction with a related party), does not regulate the need for the board to coordinate transactions with shareholders. If the SIA shareholders wish to impose certain restrictions on the board or require greater accountability to the shareholders, all of this must be in the SIA&#8217;s articles of association or in an agreement concluded between the SIA shareholders and the board. However, the author wishes to point out immediately that an agreement concluded between the SIA shareholders and the board, unlike the articles of association, is not valid against third parties, which may later cause problems in relations with bona fide third parties. Therefore, the best combination will be the articles of association and an agreement with the board.   <\/p><p> <\/p><p>What must be understood is that in cases where there is only a legal framework, without an appropriate contractual framework and comprehensive articles of association, the real possibilities for a shareholder who is not a board member to manage and control the operation of the SIA are relatively limited, because it is the board, not the shareholders, that is the executive body of the company, which manages and represents the company. Therefore, if shareholders wish to exercise greater control over the SIA and provide for certain transaction-restricting provisions or a wider range of issues to be considered at the shareholders&#8217; meeting, all of this must be provided for in the articles of association and the relevant agreements with the board. <\/p><p><b>TO BE OR NOT TO BE A BOARD MEMBER. BOARD LIABILITY <\/b><\/p><p>When establishing an SIA, you must very carefully consider whether you want to and are capable of being a board member. You must evaluate your real ability to successfully manage the company and all the risks arising from the position of a board member. The Commercial Law stipulates that a board member must perform their duties as an honest and careful manager, and liability is avoided only if the board member proves that they acted as an honest and careful manager. It is written clearly enough, but what it means in practice is not always understood. In practice, it means that a board member is effectively responsible for everything that happens in the SIA, because as a manager, they must know everything.    <\/p><p>The duties of the board are regulated not only by the Commercial Law but also by other legislative acts. For instance, the Accounting Law stipulates that the head of the company (in a limited liability company \u2013 the board) is responsible for the maintenance of accounting records and the preservation of all originals, copies, or data images of documents certifying economic transactions. The head of the company is liable for losses caused to the company, the state (local government), or a third party due to their fault through violations of the provisions of the Accounting Law. According to the Law &#8220;On Taxes and Duties,&#8221; a taxpayer that is a legal entity, but for whom its head is responsible, is obliged to pay taxes and duties within the specified term and in full. Furthermore, the Insolvency Law provides for the liability of board members for failing to submit documents to the insolvency proceedings administrator. It should be noted that, in addition to these, the legal duties and liability of a board member are also regulated by a number of other legislative acts.     <\/p><p>A board member is liable for losses caused to the SIA, and here the reverse burden of proof applies, where the board member themselves must prove that they acted as an honest and careful manager. Being a board member of an SIA is a very large responsibility\u2014responsibility both to the SIA and the shareholders, as well as to the state\u2014which must be taken into account when making the decision to be or not to be a board member. <\/p><p>The liability of a board member cannot be completely excluded. However, it can be reduced by involving relevant experts who provide the board member with the necessary assistance in matters where they lack the relevant competence or specialized knowledge. It is also recommended to take out board member liability insurance, the purpose of which is to protect the board against claims that might be raised as a result of their decisions and actions necessary for the performance of the SIA&#8217;s daily tasks.  <\/p><p>It is also important to emphasize that in cases where the SIA has several board members, they are jointly and severally liable for losses they have caused to the company. In such cases, it is important to provide for the division of competence and responsibility among board members, at least in the internal documents of the SIA. <\/p><p><b>LIABILITY OF A LEGAL ENTITY<\/b><\/p><p>As practice shows, when establishing an SIA, shareholders do not always understand that not only the board member but also the SIA itself may have to be held liable for the actions of a board member. Criminal liability for criminal offenses is traditionally applied to natural persons guilty of committing criminal offenses. However, there are several offenses where the actions of a natural person are related to the interests of a legal entity. If a natural person, for example, a board member, has committed a criminal offense for the benefit or in the interests of a legal entity, or has not been sufficiently supervised by the legal entity, such circumstances can lead to the criminal liability of the legal entity.   <\/p><p>A board member can be held liable civilly, administratively, and also criminally. The potential criminal liability of a board member can not only affect them personally but also create negative legal and financial consequences for the legal entity represented by the board member, thereby directly affecting the shareholders of the capital company as well. <\/p><p>For a criminal offense committed by a natural person in the interests of a legal entity, for its benefit, or as a result of its improper supervision or control, criminal liability is applicable to this natural person, while a process for the application of a coercive measure can be initiated against the legal entity. In such cases, liability for the legal entity usually arises if the criminal actions or omissions of the board member have created some unjustified advantages for the legal entity (for example, financial gain, material benefit, winning a public procurement tender, etc.). <\/p><p>Coercive measures such as liquidation, restriction of rights, confiscation of property, or a monetary fine can be applied to a legal entity; the latter is one of the most frequently applied coercive measures in practice, and it has a significant financial impact on the legal entity. <\/p><p>In fact, not only their own liability but also the liability of the legal entity depends on how a board member works, which SIA shareholders do not always evaluate when appointing the board or checking the compliance of the board&#8217;s actions. The mere fact that a board member generates good profit for the company and satisfies the economic interests of the shareholders does not exclude the risks of law violations, which can result in the application of a coercive measure against the legal entity. That is why it is important for the shareholders of a capital company to truly know what the board is doing and to regularly check its activities. It is also essential for the company to have internal compliance regulations that can at least demonstrate that the company has internal control. This is important because for crimes committed by a board member, regardless of whether the company&#8217;s shareholders know about it, a process for the application of a coercive measure can be initiated against the legal entity.    <\/p><p><b>THE &#8220;RED FLAG&#8221; 50\/50<\/b><\/p><p>Disputes between shareholders are not uncommon. However, in situations where an SIA has two shareholders and each owns 50%, it can be &#8220;fatal&#8221; for the SIA in practice. The author does not recommend establishing an SIA when it has only two shareholders who each own 50%. Or, in such cases, be especially cautious and provide for the clearest possible contractual regulation of what happens and how to avoid it when each shareholder takes the opposite side and sticks to a mutually exclusive solution. As noted earlier, the Commercial Law specifies certain matters that are within the exclusive competence of the shareholders&#8217; meeting, such as electing a board member, making amendments to the articles of association, increasing or decreasing the share capital, and approving the annual report and profit distribution, but both shareholders take opposite positions and a decision cannot be made. Namely, they can neither approve the annual report nor appoint a board. A real case from practice involved a situation where a security measure was applied to a board member in a criminal proceeding, and they were prohibited from performing the duties of a board member, but the SIA shareholders could not agree on the appointment of a new board member, which led to the termination of the SIA&#8217;s activities. According to the Commercial Law, in cases where the company&#8217;s board has no representation rights for more than three months and the company has not rectified the specified deficiency within three months after receiving a written warning, the SIA&#8217;s activities can be terminated based on a decision by the commercial register authority.      <\/p><p><b>ARE YOU A SUBJECT OF THE AML\/CTPF LAW?<\/b><\/p><p>Before establishing an SIA, it must be verified whether the SIA will be a subject of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing (hereinafter \u2013 <b>AML\/CTPF Law<\/b>), for which the AML\/CTPF Law provides special duties and responsibilities.<\/p><p>The subjects of the AML\/CTPF Law are listed in Section 3 thereof. It should be noted that in addition to traditional subjects such as credit institutions and financial institutions, the section also lists outsourced accountants, persons who undertake to provide assistance in tax matters (for example, consultations or material assistance) or act as an intermediary in providing such assistance, as well as persons who act as agents or intermediaries in real estate transactions. <\/p><p>Of particular note is the fact that, according to the opinion of the State Revenue Service (SRS), the granting of loans to group companies is considered a financial service within the meaning of the AML\/CTPF Law. Accordingly, a person who grants such loans is considered a financial institution and is therefore a subject of the AML\/CTPF Law. <\/p><p><b>DUTIES OF THE SUBJECTS OF THE LAW<\/b><\/p><p>If the SIA is a subject of the AML\/CTPF Law, it must be taken into account that it is obliged to appoint a person responsible for compliance with the AML\/CTPF Law and notify the supervisory authority. In addition, the subject of the AML\/CTPF Law is obliged to perform an AML\/CTPF risk assessment and develop an AML\/CTPF internal control system (ICS). The AML\/CTPF ICS must provide for the procedure for assessing, documenting, and reviewing client risk, the procedure for client identification and due diligence, the procedure for monitoring client transactions, as well as other measures specified by the AML\/CTPF Law. The ICS must also define the rights, duties, and responsibilities of employees, as well as the standards for professional qualification and compliance of employees in fulfilling the requirements of the AML\/CTPF Law.   <\/p><p>Likewise, attention should be drawn to the fact that the SIA will need to develop a procedure for detecting suspicious transactions and a procedure for how the subject of the law refrains from conducting a suspicious transaction. The subject of the law is obliged to report suspicious transactions to the Financial Intelligence Unit and submit threshold declarations. Suspicious transactions in the field of taxes regarding clients who are Latvian residents must also be reported to the SRS. Suspicious transactions in the field of taxes are defined in the Law &#8220;On Taxes and Duties.&#8221;   <\/p><p>The AML\/CTPF ICS is documented in the relevant policies and procedures. It should be noted that there is a misconception that it is sufficient to limit the creation of an ICS to the preparation of a couple of documents just for the sake of a &#8220;check-mark.&#8221; A supervisory authority, such as the SRS, when conducting an on-site inspection, will evaluate the practical application of the ICS and its supervision.  <\/p><p><b>DUTIES IN THE FIELD OF SANCTIONS<\/b><\/p><p>For subjects of the AML\/CTPF Law, additional duties are also set by the Law on International Sanctions and National Sanctions of the Republic of Latvia. Namely, in addition to the AML\/CTPF risk assessment and ICS, they are obliged to prepare a sanctions risk assessment, as well as to develop and implement a sanctions internal control system. In certain cases, the subject of the law must report to the State Security Service, the Financial Intelligence Unit, and its supervisory authority.   <\/p><p>Given the global situation and the war in Ukraine, the obligation to verify whether a transaction partner is on sanctions lists before concluding transactions applies not only to subjects of the AML\/CTPF Law. When planning your business and transactions, the business must be structured to minimize sanctions risk. It must be taken into account that sanctions lists and the persons and goods on them are expanding, and it cannot be ruled out that a transaction partner or goods necessary for production may be included in a sanctions list later.  <\/p><p>Intentional violation of sanctions is a serious crime for which criminal liability is provided (the maximum penalty is imprisonment for up to eight years).<\/p><p>However, even unintentional violation of sanctions or cooperation with persons who pose a high sanctions risk can lead to various negative consequences:<\/p><ul><li aria-level=\"1\">Difficulties in cooperation with banks and other financial institutions.<\/li><li aria-level=\"1\">Funds received from a transaction partner may be frozen by the bank.<\/li><li aria-level=\"1\">Impossibility to fulfill the contract.<\/li><li aria-level=\"1\">Withdrawal of the transaction partner from the contract (e.g., in the case of a sanctions clause).<\/li><li aria-level=\"1\">Reputational risk.<\/li><\/ul><p>To fully manage sanctions risk, it is recommended that the merchant develops a sanctions risk assessment and, according to this risk assessment, establishes a sanctions internal control system to protect its business interests and safeguard it from negative consequences. The internal control system would primarily include the procedure for checking transaction partners, but depending on the size of the company, the number of transaction partners, and sanctions risks, it may also include general guidelines for all company employees, a procedure for staff training, and other matters. <\/p><p>Sanctions compliance issues are particularly relevant for merchants who cooperate with transaction partners from countries and regions with an increased sanctions risk. At the moment, this is particularly relevant in the case of Russia. <\/p><p>It is advisable to think about the SIA&#8217;s sanctions guidelines and policies even before establishing the SIA. The implementation of such guidelines and policies can be a positive signal to existing and potential transaction partners and financial institutions. It should be noted that banks now ask their clients whose activities involve increased sanctions risks to develop and present a sanctions policy and\/or procedure.  <\/p><p>An SIA can freely choose the form in which to observe and comply with international and national sanctions, and how to document the identification and verification of persons on sanctions lists. However, when deciding on the development of an internal control system, it is recommended to make it appropriate to the specifics of the SIA&#8217;s activities, the geographical scope of operations, clients and cooperation partners, the size of the company, and the identified risks. <\/p><p><b>VERIFICATION OF TRANSACTION PARTNERS <\/b><\/p><p>SIA transaction partners or potential partners must be checked not only for sanctions. To evaluate the reliability of a transaction partner and determine the transaction risk, to avoid tax surcharges or liability for tax evasion, information must be obtained for the assessment of the transaction partner and transaction risks regarding the transaction partner&#8217;s registration data, issued licenses and permits, financial status (amount of liabilities, insolvency processes, etc.), performance results, as well as material resources. Improper verification of transaction partners can lead to tax surcharges, administrative liability, or criminal liability.   <\/p><p> <\/p><p>To help taxpayers avoid dishonest transaction partners, the State Revenue Service has compiled potential sources of information that a taxpayer can use when performing a risk assessment and offers potential examples of risk assessment. It is advisable for the SIA to familiarize itself with this information even before concluding transactions. <\/p><p> <\/p><p><b>LOCATION<\/b><\/p><p> <\/p><p>The Commercial Law obliges the board of an SIA to be reachable at a specified address. If the legal address is fictitious<b>,<\/b> and if correspondence sent to it does not reach the hands of the board, then the <a href=\"https:\/\/likumi.lv\/doc.php?id=5490#p314\">Commercial Law<\/a> provides for the possibility to even initiate the <a href=\"https:\/\/gramatvedis24.lv\/uznemejdarbiba\/sia-likvidacija\/\">liquidation process<\/a> of the specific capital company when the SIA is not reachable at its legal address and has not rectified the specified deficiency within two months after receiving a written warning. Therefore, it is important to ensure that the SIA is indeed located at the specified address.   <\/p><p> <\/p><p><b>SIA NAME AND INTELLECTUAL PROPERTY<\/b><\/p><p>One of the first steps toward creating your own business is coming up with a name for the SIA.<\/p><p>The name of the SIA does not necessarily have to coincide with the planned brand name, and one SIA can own various brands with different names.<\/p><p>However, before making a final decision on the planned SIA or brand name, it is important to find out whether someone else is already using such a name or has registered it as their trademark. You can find this out on the websites of the <a href=\"https:\/\/www.ur.gov.lv\/lv\/meklesanas-rezultati\/\">Register of Enterprises<\/a> and the <a href=\"https:\/\/www.lrpv.gov.lv\/lv\/precu-zimes\/datubazes\">Patent Office<\/a>. While the <a href=\"https:\/\/www.ur.gov.lv\/lv\/meklesanas-rezultati\/\">Register of Enterprises<\/a> will not register an SIA with the exact same name, the SIA may face trouble regarding the use of a similar trademark, which could lead to litigation.  <\/p><p> <\/p><p>But even more important is for the SIA, upon starting its activities, to ensure whether it needs to register trademarks or obtain a patent to protect its intellectual property rights.<\/p><p><b>COMPUTER PROGRAM LICENSES<\/b><\/p><p>When starting your business, it is important to use only those computer programs for which the relevant licenses have been purchased. Sometimes this is forgotten or there is a desire to save money. I want to say right away that such savings can be too expensive and even lead to criminal liability. Furthermore, in cases of copyright infringement, the legal presumption of fact applies. 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Share this article! <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aa79500 elementor-widget elementor-widget-ha-social-share happy-addon ha-social-share\" data-id=\"aa79500\" data-element_type=\"widget\" data-widget_type=\"ha-social-share.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"ha-share-buttons\">\n\t\t\t\t\t\t\t<li class=\"ha-share-button elementor-repeater-item-408102c\">\n\t\t\t\t\t<a class=\"sharer ha-share-network elementor-social-icon-facebook\" data-sharer=\"facebook\" data-url=\"https:\/\/rockbridge.legal\/en\/some-important-things-to-consider-before-starting-your-business\/\" data-hashtags=\"\" data-title=\"\" data-image=\"\" data-to=\"\" data-subject=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<i class=\"fab fa-facebook\" aria-hidden=\"true\"><\/i>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"ha-share-button elementor-repeater-item-859be4b\">\n\t\t\t\t\t<a class=\"sharer ha-share-network elementor-social-icon-twitter\" data-sharer=\"twitter\" data-url=\"https:\/\/rockbridge.legal\/en\/some-important-things-to-consider-before-starting-your-business\/\" data-hashtags=\"\" data-title=\"\" data-image=\"\" data-to=\"\" data-subject=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<i class=\"fab fa-twitter\" aria-hidden=\"true\"><\/i>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"ha-share-button elementor-repeater-item-ed864c5\">\n\t\t\t\t\t<a class=\"sharer ha-share-network elementor-social-icon-linkedin\" data-sharer=\"linkedin\" data-url=\"https:\/\/rockbridge.legal\/en\/some-important-things-to-consider-before-starting-your-business\/\" data-hashtags=\"\" data-title=\"\" data-image=\"\" data-to=\"\" data-subject=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<i class=\"fab fa-linkedin\" aria-hidden=\"true\"><\/i>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t\n\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-3038702b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3038702b\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-36fadab6\" data-id=\"36fadab6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4094472e elementor-widget elementor-widget-image\" data-id=\"4094472e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"540\" height=\"540\" src=\"https:\/\/rockbridge.legal\/wp-content\/uploads\/2022\/09\/3.png\" class=\"attachment-full size-full wp-image-9605\" alt=\"\" srcset=\"https:\/\/rockbridge.legal\/wp-content\/uploads\/2022\/09\/3.png 540w, https:\/\/rockbridge.legal\/wp-content\/uploads\/2022\/09\/3-300x300.png 300w, https:\/\/rockbridge.legal\/wp-content\/uploads\/2022\/09\/3-150x150.png 150w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-75bd4b4c\" data-id=\"75bd4b4c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-74727d45 elementor-widget elementor-widget-heading\" data-id=\"74727d45\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">VIKTORIJA JARKINA<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-727c6031 elementor-widget elementor-widget-heading\" data-id=\"727c6031\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Partner, Sworn Advocate<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e8bf776 elementor-widget elementor-widget-text-editor\" data-id=\"6e8bf776\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Dr. iur. Viktorija Jarkina is a partner at RockBridge Legal and an internationally recognized litigation lawyer in Latvia, whose competence is recognized by Chambers Europe, Chambers Global, Best Lawyers, and Legal 500. Viktorija specializes in shareholder disputes, civil litigation, and commercial litigation, and provides defense and representation in economic crimes and environmental offenses. Viktorija also works with franchises and provides full franchise-related legal services.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-345a201b elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"345a201b\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"tel:(+371)%2027%20727%20077\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-phone-alt\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">(+371) 27 727 077<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:viktorija.jarkina@rockbridge.legal\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-envelope\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">viktorija.jarkina@rockbridge.legal<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2dfa3c66 elementor-widget elementor-widget-button\" data-id=\"2dfa3c66\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/rockbridge.legal\/en\/the-impact-of-establishing-contributory-negligence-on-determining-the-amount-of-compensation\/viktorija-jarkina\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">LEARN MORE <\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-705f0843\" data-id=\"705f0843\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>To start a legal business, several aspects and issues are significant, which are not always well-considered before launching. Likewise, a legal entity is required that is permitted to conduct economic activity, namely a merchant, which can be a natural person (individual merchant) or a commercial company, which is a partnership (limited partnership or general partnership) [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"page-builder","ast-site-content-layout":"full-width-container","site-content-style":"unboxed","site-sidebar-style":"unboxed","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[53,62],"tags":[],"class_list":["post-10168","post","type-post","status-publish","format-standard","hentry","category-corporate-law","category-opinion","type-opinion"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/posts\/10168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/comments?post=10168"}],"version-history":[{"count":2,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/posts\/10168\/revisions"}],"predecessor-version":[{"id":10171,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/posts\/10168\/revisions\/10171"}],"wp:attachment":[{"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/media?parent=10168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/categories?post=10168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/tags?post=10168"},{"taxonomy":"type","embeddable":true,"href":"https:\/\/rockbridge.legal\/en\/wp-json\/wp\/v2\/type?post=10168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}