Biletsky Law - Entity FormationOnce the type of entity that your business will be has been decided, the next step is entity formation. When setting up your business it is important that your business meet the criteria and follow the requirements for the specific entity that the business will be.

 

  • Sole proprietorship – Businesses which are owned by a single person and are labeled as a sole proprietorship have certain advantages and disadvantages that need to be considered.

  • Limited Liability Company – A limited liability company is emerging as one of the most popular types of entities that new businesses are utilizing.

    • LLC Formation

    • LLC Operating Agreement

  • Partnership – Having a precise and detailed partnership agreement is essential to ensuring the stability and success of a partnership.

    • General Partnership

    • Limited Partnership

    • Limited Liability Partnership

    • Limited Liability Limited Partnership

  • Corporations – Incorporating your business in the correct manner helps avoid issues with tax and liability that an incorrectly incorporated business may suffer.

    • Corporation Formation

    • Articles of Incorporation

    • Shareholder Agreements

    • Corporate Bylaws

    • Minutes

    • S-Corp Designation

    • C-Corp Designation

  • Non-profit organization – Businesses that are non-profit have both a positive impact on society as well as numerous tax advantages. Before forming a non-profit organization, it is important to determine whether your business plans will be eligible to considered a non-profit.

  • Joint Ventures – Joint ventures can be uniquely advantageous due to the combination of resources that often come with such endeavors.