Protect your Business with its Legal Structure

Every business is registered with the government as a business entity. It's like getting a birth certificate for your business. This separation between you and your business is a must for a host of reasons, with the main one being protection.

You can further protect yourself and your business by choosing the appropriate legal structure. The different structures available have pros and cons dependent on the type of business you run, the employees you have, and the risk level of your business. That decision affects everything : ownership, decision-making, liability, funding, hiring, financing, taxes, and more.

The 3 Types of Structures

Partnerships : Protect your personal assets & partnership.

No two businesses are identical. Maybe you would like a general partnership, where the partners have direct management in the company and are equally (and personally) liable in the event of lawsuit. (That means each partner's personal assets can be tapped to settle any company debts or lawsuits.) More likely, you are interested in a limited liability partnership, where each partner is only responsible for paying the amount he or she invests in the business.

Whether you are forming a general or a limited liability partnership, we can help.

We can advise you on how best to operate your company and we can draft your partnership agreement.

Remember, this is a professional marriage. You want to be clear and set all expectations in writing.

LLC : Protect your business with structure.

A limited liability company structure can help you protect your personal assets from business losses. Instead of being personally liable (like in a general partnership), an LLC can protect your personal assets. Our law firm offers flat rate services to help you establish and operate a California LLC, whether it is with one member or multiple people. We will take care of the formation, draft the required Articles of Organization & Operating Agreements. Consult with us to determine if an LLC is right for you.

Corporation : YourDream, Inc.

A corporation can be the right choice for your business if you want to issue shares and you have investors who don't want to be involved in the direct day-to-day operations of your company. We can help you establish your corporation, issue shares, create by-laws and help you understand how best to operate your corporation. We can even help you understand how to file for an S-Corp election, where appropriate. We can also take care of your Shareholders Agreement and help you figure out how many initial shares to issue (remember: the amount you pay in corporate taxes may change based on how many shares you want to issue).

Feeling confused? Don't worry, we can help! Click here to contact us today.