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Business Formation Advice a Wise Investment for a New Business’ Success

When you are a starting a new business or forming a new entity from a recent merger and acquisition transaction, it is important to get the best legal advice to ensure the structure is the most beneficial for your long-term success. Individually owned companies with doing-business-as (DBA) designations can seem attractive due to the limited amount of paperwork involved, but this structure offers limited tax breaks and and exposes you to personal liability for debts and business obligations . LLCs, S or C-corporations can provide owners with tax savings and a structure that protects an individual business owner from personal liability.

After providing advice about the right business structure for your needs, an Ohio business attorney can assist with the drafting and/or review of your business plan, operating agreements, and contracts so that your business begins with a solid foundation. An experienced business attorney stays abreast of the evolving regulations on the local, state, and federal level that impact your business. This is vital to ensure that your governance documents and business operations are compliant with the ever-changing laws and disclosure requirements.

Proper planning during the initial business formation stage is essential to provide the necessary framework for business expansion on a national and international level. These business formation principles also apply to individuals and entities that want to form non-profit businesses and organizations. A knowledgeable and experienced business attorney will make sure that you know and understand the choices you have when forming a business and the consequences of those choices.

Obtaining the advice of an attorney when you start a business to help draft and review contracts and agreements related to the sale of your products or services, employment agreements, and the protection of your intellectual property assets, will ensure a successful start and help minimize disputes and liabilities in the future.

Onda, LaBuhn, Rankin & Boggs, Co. LPA has been serving clients throughout Ohio since 1991. OLRB’s partners have more than 85 years of combined experience and developed a unique and diverse practice to meet the various needs of our business and individual clients. OLRB practice areas include but are not limited to: Corporate, Finance and Business Services; Commercial Litigation; Real Estate; Construction; Trusts, Estates, and Wealth Transfers; Taxation; Labor & Employment and Government Relations & Administrative Law.

OLRB would be pleased to discuss your legal representation needs. Contact Onda, LaBuhn, Rankin & Boggs Co., LPA at 614-716-0500.

Posted on Monday, May 14th, 2012 at 8:29 pm and filed under Corporate & Business Services.

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