Business Formation & Succession Planning
Most Secretaries of State have simplified the process of business formation. In many cases experienced businessmen and women can form a new business with very little involvement from an attorney. But the legal practice area of Business Formation and Compliance does not start or stop with the technical formation of a business.
Your company could take the form of: a sole proprietorship, general partnership, limited liability company, limited partnership, limited liability partnership, close corporation, S-corporation, C-corporation, or non-profit corporation. Choosing the right entity for your company requires weighing ease of administration, liability concerns, and tax obligations. My firm will help you understand the pros and cons of each entity as it relates to the business you are forming.
If your entity is not a sole proprietorship or partnership, formation next requires filing either Articles of Organization or Articles of Incorporation with the Secretary of State. Rarely do these articles identify the underlying owners. While this anonymity helps protect your privacy, the articles are not enough to provide banks and financial institutions with the clarity they need to open accounts for your business. Therefore, operating agreements, by-laws, or codes of regulations are needed to define the company's ownership structure, management roles, and business succession details. My firm can prepare these initial documents and guide you in meeting your ongoing compliance obligations to taxing authorities, administrative agencies, the owners, and the company itself.
Starting a new business can be a daunting experience. Let my firm help de-mystify the legal aspects of your journey.
