The firm is now handling a limited number of immigration cases on a select basis. Please see the Practice Areas page for more information about this development.
Choice of Entity, Business Formation, Succession of Family Businesses, Business Termination
Choice of Entity
This is not the part of starting a business that gets people excited. You want to get started making product or selling services, you aren't necessarily thinking about how you should legally structure your business. That's why you need us.
You can open a Sole Proprietorship, a Partnership, an LLC, a Corporation- this firm is here to help you choose between the options. A large part of the decision has to do with tax consequences, as everyone wants to pay the fewest taxes possible. But there are also liability considerations. Your choice of entity impacts your business a great deal.
Whatever form of business you decide is best for you, the right documents need to be in place to back it up. The State and the IRS have certain requirements for each business entity, some of which have to be fulfilled every year. This doesn't mean you have to come back to the attorney every year, but a good attorney will show you in advance what you need to do in order to make your new business function legally.
In addition, you need to make sure that your formation documents cover enough about the actual "business" of your business. For instance, if you have two equal partners- what if you disagree? Who makes the final call? All of these decisions need to be made in advance of any problems, and are very individualized to your business. There are some times in life when you can take a simple form, fill it in, and be done with it. But this business formation document is something you will need to turn to again and again, through good times and bad. You need it to be individualized, thorough, and complete.
Family Business Succession
Planning business succession is often uplifting for everyone involved. You've built a successful business and now you want to pass it on to your heirs or sell it to another party. How does your business structure envision you doing that? Do you need new documents in place? These are the sorts of questions your attorney can answer.
Closing a Business
Planning the beginning of a business is often great fun for everyone involved. The excitement of possibilities is palpable, and all businesses begin with both the potential for and the belief in great success. It is often the business planning attorney's job to make new partners think ahead to the worst possible outcome- what if things go wrong? You need to create a business escape plan from the very beginning just in case. If you ever wondered why all lawyers seem like Eeyore, this is it. We are all trained to see the worst case scenario coming from a mile away.
If you have a good business formation document in place, this can be an easy scenario. Unfortunately, many businesses skimp on the legalities at the beginning of their journey and pay for it dearly at the end.
We can negotiate who gets the remaining profits, debts, capital, or other assets of your business if you decide to close it. However, the interests of the partners or owners in the business are likely to collide during this process. It is best if each seeks their own counsel. This is not so attorneys make more money on the process. It is to protect your best interests. The closing of a business (profitable or not) is not a time to trust. It is a time to verify.
No Legal Advice or Attorney Client Relationship. The content of this website is for informational purposes only. It does not constitute the rendering of legal advice or other professional services. Your use of this website does not create an attorney-client or confidential relationship between yourself and Amanda Johnson or this firm. Information on this site should not be relied upon or used as a substitute for consultation with an attorney.