Creating a new business is a big undertaking. One of the most important decisions you will have to make is deciding which type of business entity best suits your business. Understanding exactly which type of business entity your company should use is not always simple, as each business entity type comes with different benefits and drawbacks. Having an experienced business law attorney explain the differences between your options (LLC, Sole Proprietorship, S Corporation, etc.) is priceless. Once you have determined the correct entity type for your business, a small business attorney will assist with the process of creating that entity for your business. An attorney will ensure that the paperwork is filled out and filed correctly and give you the peace of mind that your business is beginning on the right path.
One of the first decisions to make when starting a small business is which legal entity the business should take. There are several structures to choose from, including sole proprietorships, limited liability companies, partnerships, limited partnerships, and corporations. Things to consider when choosing a legal structure for a new business includes: the size and profitability of the business, how many people will own it, and the liability risks and tax advantages associated with the business structure. Our business attorneys can assist you with the planning and formation of new business entities to maximize the benefits and minimize the risks to you and your small business.
Small business owners must be familiar with the variety of laws that govern how business is conducted. For example, whether you hire your own employees or independent contractors, you will need to have a solid understanding of federal and state labor laws covering everything from benefits and wages to discrimination and harassment. It also makes good business sense to know how to handle specific legal issues that may arise and negatively impact your business. Not all legal matters require a lawyer, but they do require a sound understanding. Sometimes the best way to protect yourself and your business is to recruit the assistance of an experienced professional to guide you along the way.
Dissolving a business should begin with recruiting professional assistance to provide legal and financial counsel on the dissolution process. With this assistance, business owners can confidently proceed without concern of illegality or financial complications. Together with counsel, owners can properly value and sell business assets, pay off business debts, notify the proper agencies and file final tax returns. Owners will also need to notify business employees and service providers about the dissolution, as well as cancel or modify any business contracts. Throughout this entire process, owners should be careful to heed the counsel of professionals to avoid complications.
Additional Small Business Services
- Commercial Real Estate Purchases, Sales, Leases
- Contract Review, Negotiations and Drafting
- Employment Law Issues
- Employment Agreements, Consulting Agreements
- Intellectual Property Issues
- Mediation and Dispute Resolution
- Non-Compete and Non-Solicitation Agreements
- Succession Planning, Valuation, and Tax Planning
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