Business Formation Law

Of all the choices you make when starting a business, one of the most important is the type of legal structure you select for your company. Not only will this decision have an impact on how much you pay in taxes, but it will also affect the amount of paperwork your business is required to do, the personal liability you face, and your ability to raise money. It’s not a decision to be entered into lightly, either, or one that should be made without sound counsel from business experts. Business owners need to seek expert advice from a trusted business formation attorney when considering the pros and cons of various business entities. Types of Business Entities The type of business entity you choose will usually…

Starting a business with a partner? It may be difficult to talk about problems during your honeymoon stage, but that’s exactly when you should. Your business formation attorney will work with you and your partner to draft a partnership agreement to help protect all those involved in the business relations. A written partnership agreement helps guide you when questions arise and can provide clarity when presented with the following questions: What is each partner’s investment? Is one partner investing cash and the other services?Do any of the partners own equipment that you’ll use in the business, and does that fact deserve consideration as part of the start-up investment?What are the responsibilities and duties of each partner? How is each involved in day-to-day operations?If a partner…