If you are running your own business, it demands a lot of persistence and diligence. This may leave you with little time to deal with any legal issue that may plague your small business. You need to have an experienced business law attorney by your side to make a difference in the day-to-day operations of your business. You will receive help dealing with a wide range of issues that relate to taxes, finance, business formations, acquisitions, mergers, employment and labor laws, contract and lease negotiations, and litigation.
An experienced attorney can help you build your business on a solid foundation.
You can structure your business in many different ways. If you are just starting your business and you are not sure what structure would best suit your circumstances, an experienced business law attorney can help. If you have been in business for a while and want to restructure your business, an experienced attorney can guide you.
The major types of business structures found in the United States include:
• Sole Proprietorship: A simple business structure that allows a person to conduct business as an
individual is a sole proprietorship. A business owner and their company are viewed as one and
the same. It is important to know that a sole proprietorship does not protect the owner from any
business liabilities even though it is an easy way to start doing business.
• Partnership: A simple business structure for businesses with more than one owner is called a
partnership. The two types of partnerships are general partnerships and limited partnerships.
Owners maintain personal liability for the business in a partnership. Owners in a limited
partnership may face limited liabilities.
• Corporation: If you form a corporation, you establish a business as a separate entity and provide
the owners with limited liability protection. The types of corporations that are available are C-
corporations and S-corporations. These two types of corporations have several key differences,
which include tax issues and shareholder restrictions.
• Limited Liability Company: A limited liability company establishes a business as a separate entity
from the owners but allows the owners to report the business gains and losses on their personal
tax returns. The owners are protected from business liabilities. Limited liability companies are not
available in all states.
An experienced business law attorney can help you build your business on a solid foundation. You need assistance to determine the best business structure for your business and guidance and advice to protect your interest and grow or maintain your business.
Corporate and Business Law
Formation and Operation of LLCs and LLPs