START A BUSINESS
Build Your New Business on a Solid Legal Foundation
Starting a business requires careful planning and understanding of your vision and goals. Depending on the type of business formation in question, various tax, liability and financing issues must be considered. Mr. Lebow will guide you through the advantages and drawbacks of the various types of business entities, and ensure that your business is secured by a solid legal foundation in order to maximize your business creation. Furthermore, if you wish, Mr. Lebow will continue to work with your new company, providing legal counsel for other matters that may arise as you move forward with your business.
Business Formation Services are offered in the following areas:
BUSINESS and CORPORATE
The Law Offices of Ronald M. Lebow have advised a wide range of entrepreneurs, up start companies and established companies regarding the formation and management of their businesses. Many times, you will need to make decisions regarding the formation of the company at the outset of formation of the company.
FORMATION
A business has several choices of what form in which to operate. Common ones are general partnerships, sole proprietorships, corporations, limited partnerships and limited liability companies. The options available may depend on the country or jurisdiction in which the business will operate.
SOLE PROPRIETORSHIP
Most individuals who run their own businesses are "sole proprietors". With some exceptions (for example, taxes), sole proprietors do not have to file any forms with the government to start and operate their businesses except a fictitious business name filing.
PARTNERSHIPS
Partnerships are formed every day (sometimes without the partners realizing it), and some jurisdictions require that partnerships file documentation to register their existence.
CORPORATIONS
Whether it is to limit the potential liability exposure that exists in doing business, for purposes of tax planning or financing (such as filing for production tax credits), or because they are required to do so for other reasons, sooner or later businesses consider incorporation.
Incorporation involves choosing an available name (not to be confused with a trademark) and filing a formation document with the Secretary of State’s office. Some file in California, Nevada or Delaware, depending upon a number of factors. Where more than one shareholder (owner) is involved, frequently a shareholder agreement is prepared to deal with common issues that arise in operating and owning a company.
OTHER FORMS OF ORGANIZATIONS
Most other forms of business organization, such as limited liability companies, have similarities with partnerships or corporations, including the requirement to file a formation document with the Secretary of State. The benefit of an LLC is that the members are protected from individual liability as in a corporation, but the profits and losses flow through to the individual members as if it were a partnership. In addition, the rules relating to the functioning of an LLC are more relaxed than the formalities required for a corporation
