Business Structuring and Setup
Why Hire a Business Formation Lawyer?
Lapin Law Firm will approach each business setup and structuring project with an eye towards the client’s particular corporate needs and business objectives.
We will provide the legal advice and legal structure needed to protect your personal assets and help you form the appropriate tax conscious entity. There are many different considerations when choosing the appropriate business entity and corresponding tax classification for a successful business venture.
Because every business presents unique circumstances, a one-size-fits-all approach to entity formation and reorganization is ineffective and often costly when structural changes become necessary. Our first task in any business setup or reorganization project is to understand the client’s short and long term objectives.
This enables us to save our aspiring business owners significant post-formation expense and aggravation by customizing a corporate structure that affords necessary liability protection and sufficient built-in flexibility.
Our entity formation and business startup services include:
- Entity Selection and Structuring Consultation
- LLC, Corporation and Limited Partnership Formation Services
- Customized Articles of Incorporation/Organization
- Customized Bylaws, Operating Agreements and Partnership Agreements
- Partnerships and Deal Structuring
- Shareholders’ Agreements
- Restricted Stock Purchase Agreements and 83(b) Election Counseling
- Stock Option Agreements
- Buy-Sell Agreements
- Entity Mergers and Conversions
- Investment Documents, Term Sheets, Convertible Debt/Equity Agreements, Stock Sales and Subscription Agreements
- Board Resolutions and Minutes
- Corporate Maintenance Filings
- Contract Review and Drafting Services
- Family Limited Partnerships
- Limited Liability Partnerships
- Sole Proprietorship
You will not only be saving yourself a lot of time and hassle by hiring a business attorney, but you’ll also know that you are doing everything right from the beginning and avoiding future business disputes.
When forming your business, you have to make sure that you have filed all the correct paperwork, obtained a tax ID number, and paid any required fees for registration. You should also verify your company’s name and be sure that it hasn’t been used before by another company in your state or country.
Business Formation Law
Business formation law deals with how businesses are started and registered with relevant governing agencies like local, city or county governments as well as state-level authorities.
Business formation includes deciding what kind of legal entity a company should be (such as an LLC or corporation), whether it should apply for special tax treatment, determining where profits earned by the company should go (such as to the owners or shareholders, to a trust for the benefit of families, etc), and whether you want investors in your company.
Business structuring is a process that applies both at the time of business formation and also on an ongoing manner. In fact, most corporations and LLCs need to be re-structured after they have been formed because companies are often started with structures that do not last long term.
Our business structuring lawyers can help you with updates so that your business continues to run smoothly. We also assist businesses in preparing operating agreements when needed. Some common types of organizations we advise include LLC’s, corporations, non-profits, and partnerships.
Companies often need several types of contracts to ensure that the owners are protected in a variety of ways. Our business agreements lawyers can help you draft contracts for things like buying or selling goods or services between separate companies, entering into joint ventures with other companies, partnering with other companies on projects, sharing ownership rights in any intellectual property created by your company (such as software programs), etc.
Forming a business and starting it up can be a major undertaking. At Lapin Law Firm, we’re here to help you with all of the steps involved in forming your company from start to finish, whether it’s an LLC or a corporation.
We will walk you through every step, including choosing the appropriate form of organization for your business, drafting its articles of organization/incorporation and bylaws, reviewing documents involved and completing post-formation filings.
We also offer startup services such as corporate formation consultation, entity formation documents and contract review at competitive prices.
Limited Liability Companies
A limited liability company is a type of company that allows owner(s) limited personal liability exposure to business debts and obligations. To become one, you need to complete the appropriate filing requirements with the secretary of state (or a similar agency) depending on where your business is headquartered.
LLC’s are not always the best option for everyone, but they can be an attractive choice when there’s even some possibility of future lawsuits or creditors coming after you personally.
A corporation is a for-profit legal entity owned by shareholders. Shareholders own the corporation, which means that they have interests in its profits and losses. Corporations can offer their owners limited liability protection from business debts and obligations. To create a corporation, you will need to meet certain requirements set forth by your state’s “statutes of incorporation.” This includes registering the name of your corporation with your secretary of state (or similar governing body), submitting articles of incorporation/organization drafted by an attorney on behalf of the company seeking to incorporate, obtaining a tax identification number and paying any required fees.
Choosing A Business Entity
Most often, business owners choose LLCs for small companies that would like to be taxed as a “pass-through” entity and corporations for large companies.
In general, in order to avoid personal liability when starting a company, the structure of the company should closely mirror the kind of liability you want.
Business Structuring and Setup
Business structuring is the process by which a new business (or an existing one) decides how to best set up its operations, including what type of legal entity it will be (such as a corporation or LLC), how it should be registered with various governing agencies, which owners will be responsible for various business operations, where profits earned from those operations will go, how people who investors came into the company can exit the company in case they want to sell their shares, etc.
New businesses are often formed so that the owners can enjoy limited liability protection. Once your business has been established, you’ll likely also need to have other documents professionally drafted and filed with state and local governing bodies to clearly define how the company will be structured and run, which owners are responsible for various aspects of running the company, how profits will be allocated among owners (and if there are expenses that must be paid before any profit is received by shareholders), etc. In order to do this you’ll need to hire business setup lawyers in your city or state who can assist you in properly structuring your new business.
Why Hire Us As Your Formation Lawyer?
Lapin Law Firm will cover all legal aspects and advise clients of any potential business formation issues. Our attorney client relationship comes first and our priority is seeking on going relationships. During our initial consultation, we will discuss your business formation goals and help you choose the best business structure for your new business entity.
Let Us Help You!
We are always open to growth and discussing future viable business opportunities or other business structure as your business grows. With decades of experience advising clients on business formations, liability protections, double taxation and the best legal structure for your corporate formation, Lapin Law Firm can help you establish a strong legal foundation to meet your business formation goals.
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