We are pleased to announce that we now offer legal services for business formations. We can help you select the right type of structure for your business and help with everything from the formation to being retained as general counsel for questions as those arise.
Below is a brief synopsis of the types of business formations we can help advise you on and help you create:
- Sole Proprietorship. This is the easiest and most common way to begin your business. You are not required to file any documents with the state. You are the only owner of the business and you can just open your doors and begin conducting business. However, we would advise you register as “dba” with the county and at least consulting with an attorney.
- General Partnership. This is a partnership with one or more other people. All partners share in the profits and losses.
- Limited Liability Partnership (LLP). This is similar to a general partnership, but each partner’s profits and liabilities are limited to the percentage of investment that a partner has made into the business. There can be general partners and limited partners.
- C-Corporation. This formation separates your business and personal assets and liabilities. If your business incurs debt or other liabilities, your personal assets are protected. This type of entity requires you to file documents with the state, keep records according to state requirements, and keep your records periodically updated with the state.
- S-Corporation. This is similar to a C-corporation but with different tax rules and different rules for shareholders.
- Limited Liability Company (LLC). This requires filing documents with the state and personal assets are protected from business liabilities.