The primary advantage of opening any type of corporate structure is to protect the assets of the business owners. We accomplish this by keeping the corporation’s assets and liabilities separate from the owners’ assets and liabilities, and by utilizing all tax incentives available to business owners. Opening a corporation is a time for identifying the exact purpose, structure, ownership, management, and basic functions of a business. If there are two or more people opening a business together, using the corporate structure to examine and define the relationship may help prevent future confusion or conflicts.
There are several types of corporate structures available to protect business owners. While we recommend consulting with your tax advisor if there is a question as to which type of corporation is right for you, here is brief list of some of the corporate structures we can help you form: Corporation (commonly signified by Inc. at the end of a company’s name), Sub-S Corporation (also signified by Inc.), Limited Liability Corporation (LLC), Not for profit Corporation, Professional Corporation (P.C.), Partnership, or Limited Partnership.
For initial set-up of a corporation, we consult with the client about best practices, corporate form and maintenance, any contracts or other binding documents used or necessary for the performance of the purpose of the business, and then we prepare by-laws, operating agreements, partnership agreements, stock certificates, and all necessary documents for application and approval by the Secretary of State, plus order and assemble your corporate book.
Call Before You Sign®: In this era of electronic advances, it has become less common for people to use pens as part of their daily lives. We transact business, pay bills, correspond with friends and relatives, give ourselves reminders, draft and edit entire contracts without ever putting ink to paper. If you are holding a pen, chances are that you are about to sign something – a contract, a lease, or an agreement. If you are about to sign something, you should be contacting an attorney first.
Each time you touch a pen, consider calling your lawyer first.
If you have questions about the various laws that affect your business,The Law Offices of Gary Oberst, PC can help. We are experienced attorneys who understand the laws and rules of business entities and the protections afforded with Connecticut. We are prepared to help you negotiate, draft and understand your contracts and legal documents. For more information or to schedule a consultation, call 203.866.4646 or email: Sharon@OberstLaw.Com.