When forming a company, it is important to make smart decisions both for the immediate needs of the business, as well as for the long-term. In addition to ensuring you comply with all laws for licensing and zoning, you also need to choose the right corporate structure so your interests are protected and so you can accomplish your business goals.
The Law Offices of Mike Ross is here to help your business. Mike Ross not only has represented startups, large and small businesses for the past three decades, but he has also worked as CFO and General Counsel for major multi-national companies. This allowed him to develop an in-depth understanding of the legal issues that you need to consider when starting your business.
The Law Offices of Mike Ross can provide you with the representation you need to make decisions that will benefit your company as you grow and become a success. Call today to speak with a member of our legal team and learn more.
Your Business Will Benefit From Advice on Company Formation
When forming a company, one of the most important decisions you will need to make is how to structure your business. You have multiple options including:
- Sole proprietorship: The simplest type of business venture, but the riskiest. You and your business are the same legal entity and you are personally responsible for debts and judgments in litigation. If your business goes bankrupt, you go bankrupt. If you start your own company and do not take affirmative steps to give the business its own corporate entity, you will operate as a sole proprietorship.
- Partnerships: A simple business structure that allows two or more parties to co-own a business. Partners will be taxed on profits and losses of the business on their personal returns, and will be personally liable for debts and judgments. Partnerships provide no more protection than sole proprietorships in terms of debts and liability, but you can create partnership agreements that govern your working relationship with co-owners. Limited Liability Partnerships (LLPs) are an alternative to basic partnerships that provide more protection but that have more complicated paperwork requirements.
- Corporations: Both S-corporations and C-corporations involve a business creating a separate legal identity. Paperwork and annual filing requirements are more complex than other types of business structures but you get the greatest protection from liability. There are many fundamental differences between S and C corps related to taxation and ownership restrictions.
An attorney at the Law Offices of Mike Ross will assist you in understanding your choices for company formation and can take appropriate steps to help get your business started with the right legal structure.
Getting Help from our Company Formation Attorneys in Silicon Valley
In addition to forming the legal entity that is your company, you have a myriad of other obligations when starting your business. From securing financing or investors to buying real estate, to hiring employees and obtaining business licenses necessary to operate, there are legal requirements that you must understand every step of the way. The wrong choices or a failure to understand your legal obligations could jeopardize your success before your company even begins.
The Law Offices of Mike Ross aim to minimize the risks of a new business venture by providing you with comprehensive legal advice. Our company formation attorneys in Silicon Valley understand that many new businesses are price-conscious and have limited budgets, so we also work to find cost effective solutions to represent you. Call today to speak with a member of our legal team and learn how we can help.