Choice of Entity – Starting a New Business

Are you starting a new business? Before you launch, it is critical that you organize your enterprise so that your personal assets are protected, and so that you and any possible partners or investors have a business structure that shares income and expenses the way you anticipated. The attorneys in KCL’s Business Law Group can help guide you to the best choice of business entity for your situation.

Our corporate lawyers have experience advising clients regarding the following available business structures:

• Sole proprietorship
• General partnership
• Limited partnership
• Limited liability partnership
• Limited liability company
• Business trust
• Professional corporation
• “C” corporation
• “S” corporation

The type of structure you choose will affect your personal liability to company creditors, legal obligations to other owners, and the complexity and cost of creating and maintaining the business entity. You must also consider the tax and compensation issues that will arise. Finally, if the business will have more than one owner, the time when the business is being organized is also the right time to plan for future plans through the use of buy/sell agreements.

At KCL we can help you understand your legal options and how they relate to your objectives. We can help you find a solution that will fit the business, tax, employment and real estate pieces together. Our philosophy is that it all starts with listening to you, your legal needs and your business objectives.