Practices
Business Start-Ups and Reorganization
One of the first decisions you must make when starting a new business is which legal form to use. Key issues include potential exposure to liability, future capital needs and tax issues. The selection of which state to organize in is also a critical decision you will have to make. If your business will be owned by more than one person, relationship issues will also need to be addressed.
Fraser Trebilcock’s business attorneys will help you identify which issues you need to consider, explain the pros and cons of each type of business organization in light of your issues, and draft the documents needed for the type of entity you choose.
Why use a lawyer instead of forms you can get from a book, a corporation services company, or a computer software package? The best reason is that your needs and circumstances deserve individual attention. A set of forms or computer program cannot match our attorneys' years of experience in helping clients tailor the structure of their businesses to protect their individual interests. Commercially available forms and software packages also often fail to address specific state law requirements or benefits. In the United States, business organizations are governed by laws which vary from state to state. Finally, while helping you determine which choice of entity is best for your situation, we may identify other important legal issues about which you may have been unaware.
Depending on your choice of entity, one of our experienced attorneys will prepare documents for the organization of one of the following entities, together with governance documents and, in many cases, a buy-sell agreement, either separately or within the governance documents:
- Corporation
- Professional Corporation
- Limited Liability Company
- Professional Limited Liability Company
- Limited Partnership
- General Partnership (also known as a co-partnership)
- Limited Liability Partnership
Does your existing entity need to be reorganized or restructured? A reorganization may involve the creation of subsidiaries or a holding company, a spin-off, or a reorganization under the laws of a different state. Our attorneys can counsel you about alternatives that are available and what liability and tax implications are associated with these alternatives. They will also help you determine whether a reorganization can be accomplished tax-free, and if not, how much tax liability is involved.
