For clients who are starting a new business, I advise them on their choice of the appropriate entity for that new business.  Depending upon my client's business and objectives, I will recommend the formation of a limited liability company (LLC), S-corporation or C-corporation. 

To make the appropriate determination, some of the considerations include

(1) protecting the owners from personal liability;

(2) the nature, assets and liabilities of the business;

(3) the states and countries of operation;

(4) projected financial information;

(5) federal, state and local income, sales and other taxes; and

(6) the client's objectives for wealth accumulation and transfer, which may include an exit strategy or business succession plan.

Once an appropriate entity is chosen, I complete all of the necessary legal requirements for the formation of that entity.  Some of these requirements include

(1) filing of all necessary documents;

(2) drafting of resolutions and certificates; and

(3) drafting of bylaws, operating agreements and partnership agreements. 

I walk my clients through each step of the process so that they fully understand their rights and obligations as owners as well as agents of the business. I draft LLC operating agreements, bylaws and partnership agreements in accordance with the interests of my clients.  Some of the considerations for these documents include matters involving management, indemnification, insurance, taxation, contributions, distributions, transfer of ownership, and events terminating the business relationship between the owners or requiring the liquidation of the business.  The agreements are always extremely important because they provide a clear platform for the successful operation of the business as expressed by agreement of the owners.  Without an effective agreement, disputes and confusion are more likely to, and often do, arise between the owners that can cause expensive litigation.