Whether you’re a prospective business owner just starting out, the proud owner of a business in need of legal advisement, or someone who’s ready to wind their business down, my knowledge and experience are at your disposal. Read on to learn about the service I offer.
If you’re just setting out to start your own business, one of the first things you need to determine is which type of business entity best aligns with your circumstances and long-term goals. Although there is a vast array of options to choose from, I find that the majority of my clients find their fit as either a corporation, limited liability company, or partnership. Choosing between these options involves a fair amount of research, but here’s a simplified breakdown of each to get you started:
Corporations operate on the concept of limited liability, meaning that its shareholders own the business but cannot be held legally liable for it — that is, unless they fail to meet corporate legal standards. Corporations are recognized as separate entities from their owners.
The core advantage of choosing to form a partnership is that these entities are not required to pay income tax. Rather, that money passes through to the business’s partners. However, this entity type can be very risky for startups because all general partners are held personally liable for the company’s debts.
Limited Liability Companies (LLCs)
Limited liability companies contain a mix of qualities found in corporations and partnerships. Like corporations, the LLC entity type protects its owners from being held personally liable for the business’s failures. And, like partnerships, LLCs offer flow-through taxation. Still, LLCs have their disadvantages, so it's best to consult with a knowledgeable attorney before proceeding with your business formation.
Day to Day Operations
Perhaps you already have a business up and running, in which case you’re likely to need legal advisement from time to time. At my firm, you’ll find that my business law experience is rather extensive. To give you an idea of my services, here is a list of the legal matters I regularly handle on behalf of my business clients:
Contract Preparation & Review
Even if your legal matter doesn’t fall perfectly into one of these categories, I invite you to reach out for advisement. As an attorney who’s been practicing in Los Angeles for nearly 35 years, I’m likely to know who can assist you if we determine I’m not the right person for the job.
When you reach the point that you’re ready to dissolve your business, it’s important that you don’t rush through the process. After all, there are many factors to consider. Not only will your dissolution need to be specific to your business entity type, but there are also a number of consequences that could affect you down the line if you don’t handle things properly. To ensure you’re protecting yourself and avoiding potential repercussions, you should look to an experienced attorney for guidance. If your business is in or around the Los Angeles area, feel free to give my office a call.
PUT YOUR BUSINESS IN
You’ve put a lot of working into building your business, and I’d like to help you keep things moving in the right direction. Whether that means coaching you through the business formation process, personally handing a current legal concern, or assisting you with a dissolution, I’m up for the task. Contact me to put more than three decades of experience on your side.