Knowledgeable Business Formation Lawyer Building Strong Foundations for Wayzata Companies
Establishing your own business is a fantastic accomplishment that many of us desire. It requires courage and smart planning at the beginning, and good systems in place for the long term. Perhaps the most integral piece of achieving sustained success is forming the company on a rock-solid foundation. That’s where we come in — helping you lay the legal groundwork necessary for reaching your goals.
Why Do I Need a Business Formation Attorney?
When you start a business, you must determine the legal structure of your organization. There are pros and cons for each classification, and they offer different levels of protection of your assets. The delineations are very nuanced and can be missed by the untrained eye. Research alone can give you a good idea of these distinctions, but consulting an experienced business formation attorney is your best bet for truly understanding the choice you must make.
How Do Business Formations Vary?
The structure you choose for your business dictates very important and basic aspects of your business, such as how you’ll pay taxes and who is liable for assets and responsibilities. Common business types include, but are not limited to:
- Sole proprietorship
- General partnership
- Limited partnership
- Limited liability company (LLC)
There are many more types than these, and each has both large and minute characteristics that differ. We can explain these gradations in detail to answer all of your questions.
How We Work With You
When you come to us at Waldron Law Offices, Ltd., we want to know what your goals and dreams are for your future. For example, if you are forming a business you want to pass ownership of on to your children, we can recommend the correct formation and strategies for making that eventual transition easy for everyone involved. We won’t just tell you what to do; we’ll work with you to prepare your business for uninterrupted success.