Business Formation

Selecting the proper type of company entity is a critical part of starting and operating a business.

While there are several good options to choose from, we find that the proper starting point concerns the protection of the business owners from personal liability, to the greatest extent possible. Usually, this means setting up a Limited Liability Company (LLC) or an S-Corp. From there, a contract between the owners should be executed in the form of either an operating agreement or by-laws.

That agreement, in either form, is critical to provide the owners and managers a framework upon which to operate their business. However, we always implore our clients to view this agreement as one not just of the business operations, but also to plan for the business transition, whether it be a future sale or break up of the owners. While this can sometimes be a difficult subject to explore, we find that our attorneys excel at taking the stigma out of exploring worst-case scenarios in order to do future planning that helps provide some peace of mind for difficult situations.