So, you have decided to start your own business. Congratulations! Many people love the hard work and enjoyment that comes from running their own business and being their own boss. Having the ability to form your own business is one that many people dream of, and once that dream is about to become a reality, it is important that your business formation is done correctly to protect that dream. While there are many different ways to make your business formation legally binding, the best way is to ensure that your business formation is done with the help of a business law expert.
Because a business lawyer understands fully the differences and implications between LLCs, partnerships, corporations, PLLCs and other business formations, they can give you the best advice on which type of business formation would be most advantageous for your business. Furthermore, they will be able to explain why one version would be better than others for tax advantages or other reasons.
Not only is a business lawyer essential in giving you the best options when it comes to business formation, but they can also help to draw up the appropriate paperwork for future changes. For example, if one person wants to be included in a business partnership, but also knows they want to strike out on their own someday, a business lawyer can include options for that person to either take a portion of the profits as payment, buy out the other partners, or other choices to dissolve their part of the partnership.
Business formation can be complicated, but at Bennett Guthrie PLLC, we make business formation understandable and possible. Let us know how we can help you today.