Whether you are starting a new business or have a well-established one already in place, it is important to have experienced legal and tax counsel to provide ongoing guidance and advice. Business issues and legal documents can be confusing. Having a good attorney and the right legal documents in place can go a long way in keeping your business running smoothly.
When starting a new business, you have many options in choosing a business entity. Some of the options include corporations (for profit or non-profit), limited liability companies (LLCs), partnerships (general or limited), and sole proprietorships. When deciding on an appropriate business entity you will need to consider many factors such as the size of your business, its intended purpose, whether you intend to have investors and/or employees, potential tax issues, liability protection concerns, and business succession goals. There are legal and tax advantages and disadvantages of each of these entity types, and you should discuss these issues with an experienced attorney.
Once a business entity is chosen, it is critical that you follow the legal requirements for your particular entity and that you maintain a set of well-drafted governing documents to support your business. Should they decide to invest or buy, potential investors or prospective buyers will scrutinize governing documents to understand their rights and responsibilities. Also, when conflicts arise between owners, governing documents are critical in resolving the dispute. These documents will determine how and under what circumstances membership interests or corporate shares can be sold, gifted, assigned, or bequeathed by way of a will or trust.
Every business is different. An experienced attorney can draft documents tailored to the unique purpose and goals of your business. Our attorneys have more than 20 years of experience in advising businesses regarding legal and tax matters and in drafting well-crafted business documents. We are here to advise you, whether you are starting a new venture or just looking for advice for your established business.