Anyone who wants to start a business needs to determine whether to operate as a sole proprietor, partnership, corporation or limited liability company (LLC). If two or more people will be involved in the ownership of the business, the choices are, generally, a partnership, corporation or limited liability company. A partnership may be a general partnership or a limited partnership or some variant. We help entrepreneurs determine what kind of business form makes the most sense for what they are doing, and we take care of setting up the business form and maintaining it so our clients can focus on the business.
Protection From Personal Liability
The corporate and LLC forms of business ownership provide the benefit of protecting the owners from the liabilities of the business. The benefits can be lost, however, through lack of understanding, inattention and failure to follow through. A solid foundation of understanding should be laid from the beginning to avoid unnecessary exposure to personal liability.
Corporate Vs. LLC Forms Of Business
Most business owners choose either the corporate or LLC form of business. Choosing the right form involves a number of considerations. Discussing the choice with an attorney and a certified public accountant is recommended to get well-rounded guidance before making that choice.
The Business Formation Process
We handle the process of corporate or LLC formation to make sure that a solid foundation is established. We take time to make sure that business owner clients understand the business formalities and the importance of those formalities to avoid significant mistakes that can lead to exposure to unnecessary liability. We provide:
- Counsel and advice on business formation
- Preparation of the Articles of Incorporation or Articles of LLC Organization
- Preparation of the initial corporate records and stock certificates or membership certificates
- Preparation of the bylaws or operating agreements
- Shareholders and directors meetings and actions and other corporate maintenance
- Shareholder agreements
- Partnership agreements