Forming a Business
Many small business owners start their businesses as sole proprietorships in which they and their businesses are essentially one and the same. However, organizing or incorporating your small business as a legal entity can offer a range of advantages for entrepreneurs. Most notable is that a corporation or LLC protects entrepreneurs' personal assets in case debts or legal judgments are claimed against the business and protects against personal liability.
What services are provided?
The advantages of incorporating a small business include:
- Personal asset protection
- Additional credibility and name protection
- Perpetual existence
- Tax flexibility
Attorney Joseph M. Cirillo will draft all necessary documents required for the formation of the business entity, and will advise you on the legal effect of all proposed terms and conditions within those documents.
Why do I need a lawyer?
There are a myriad of websites that offer discount “do-it-yourself” services online to form your business, but they cannot provide the much needed legal advice and support that an attorney can. Attorney Cirillo can counsel and advise you throughout the formation process ensuring that you know what you are doing and why.
What is the typical process?
During the initial consultation, Attorney Cirillo will consult with you to determine the best structure for your business. He will then execute the various initial documents required, including but not limited to a starting operating agreement, articles of organization, and notice of formation. The notice of formation will then be published for a period of 6 weeks, after which the final documents can be filed with the Department of State.
The formation process can take several months, due to publication requirements and filing times, but the Cirillo Law Firm will keep you apprised of any developments during the process.
What can I do to prepare?
An initial consultation will be necessary to determine the exact needs for your business, but preparing the following can expedite the process:
- Names and addresses for all members of the business
- Physical location of business
- List of ideally 3 business name ideas; restrictions on availability may apply