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Business Formation is an essential step in starting any company. One of the first decisions a business owner will face is what type of business entity to choose.
The most common types of business entities are LLC, S-Corp, C-Corp and LLP. The choice of entity affects many different aspects of the business such as tax implications, expenses associated with incorporating, limiting of obligations and limiting of liability. It is very important to have the help and guidance of someone who forms businesses every day and provides advice and counsel to clients who have started their own business.
Small Business Formation
Along with forming a business and choosing the correct type of entity, there are many other aspects of starting a business that a owner must take into consideration. One very important aspect is the structure of the business.
Whether the business is a Corp or an LLC there must be an operating agreement or a shareholders agreement. This very important document will establish the structure of the company, the roles of all officers and the liabilities that the owners take on.
It is extremely important not only to have this document in place but it is essential to make sure that this document is drafted and reviewed by an attorney who understands what the mission of the business is and what the goal and purpose of its officers are in achieving the company's objectives.
Contracts Drafting and Review
Contract Drafting and Review is an essential and crucial part to any successful business. Small business owners face many different challenges when running their business. One common mistake that small business owners make is making agreements that are not in writing. Although oral agreements are enforceable, when dealing in business it is often easier to understand when an agreement is made in writing and the terms are clear.
It is important for any business to have the confidence to know that any agreement they enter into has been either reviewed or drafted by their attorney. Having an attorney review or draft a contract for your business can give you peace of mind to know that the agreement is clear and that your company's interest is properly protected.
TAVAREZ LAW, P.A.