Business Law
Forming any new business entity involves work, time, and often substantial expense. There are crucial steps to take to start a business. Before you begin, it’s essential to be aware of all the legal requirements specific to your area and the type of business entity you intend to create. Overlooking these legal requirements can be expensive and significantly interrupt your plans for a successful business. To ensure that you start strong and in the right direction, it is recommended that you work with an experienced business formation attorney.​
I can offer you advice and guidance in determining:
Which business form is best from legal, tax and liability standpoints; how to protect your house and personal assets from liability claims against your business; and how to fairly structure a partnership. Choosing the most appropriate business entity is critical to opening your doors for business. there are various options, each with its own benefits and drawbacks. I will guide you through each option to ensure the best fit for your specific business needs.
Drafting necessary agreements to protect your company’s interest such as non-disclosure agreements, shareholder agreements, operating agreements, or non-compete agreements.
Creating, reviewing, and negotiating contracts with potential clients, suppliers, and vendors.
Creating business plans to assist in securing funding for your business and guide your decision-making process.
Business Law FAQs
What Are The Advantages To Forming An Entity?
There are several types of business entities to choose from, such as sole proprietorships, partnerships, limited liability companies (LLCs) and corporations. Each of these entity types offer specific advantages, when deciding which form is best for your business needs, you may want to consider the following:
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Liability for business transactions. How well the business insulates you personally from potential lawsuits aimed at the business,
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How the business entity is taxed-whether you are required to file a separate tax return for the business or the business proceeds pass through to your personal income tax return, and
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How will the business be managed and operated- who will run the company, how will the day-to-day operations be managed and what are the goals and duties of the company.
What Are The Differences Between A Limited Liability Company (LLC) And A Corporation (Inc.)?
An LLC is the most common form of entity. An LLC offers owners great liability protection because the LLC is treated as its own separate entity, different from its members. An LLC insulates its members from the negligence of employees or the debts and contractual obligations of the company. LLCs allow owners to choose whether the company will be taxed as a pass-through entity or at the entity level. An LLC also offers more flexibility in its operation. With an LLC, the operating agreement, the document that governs the management of the business, can be customized to fit particular needs of the company. LLCs are particularly useful to small-business owners with no outside investors to appease that will help keep costs down.
Limited Liability Company
Similar to an LLC, a corporation is a legal entity separate from the owners or shareholders. Unlike an LLC, however, corporations are required to adhere to specific corporate formalities such as annual meetings and minutes, yearly filings and fees, making business information readily available to shareholders. A corporation is generally taxed at the entity level, but can elect to be taxed as an S corporation with the taxes passing through to the owner’s personal income tax return.
Corporation