- Basic Considerations in Forming a Limited Liability Company
- Take Steps to Solve Problems Before Your Business Ends Up in Court
- Keeping Your Business's Legal Bills Under Control
- Are Mediation and Arbitration a Viable Alternative for Business?
- Consider Zoning When You Choose Your Business Location
- Don't Forget Licensing Requirements When Your Starting Your Business
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Popular Business Law Articles
- Limited Liability Partnership Businesses - A limited liability partnership business (LLP) is a very common type of business structure. It consists of partners who run the business, only some of all therein have limited liability.
- Alternative Forms of Incorporation - Not every corporation is a C-Corporation or an S-Corporation.
- Choosing Between Corporation and Limited Liability Company - LLCs allow a business to have the limited personal liability of a corporation as provided by state law, while being treated as a partnership for purposes of Federal tax laws.
- Choosing The Best Structure For Your Business - There are four basic types of business entities: sole-proprietorships, partnerships, corporations, and limited liability companies, each with its own advantages and disadvantages.
- Identity Theft Can Devastate YOUR Business - We've all heard of the problem, we've all seen the ads, but few have recognized how the theft of the identity of an owner or key manager can wreck your entire business.
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Bankruptcy & Debt
- Bankruptcy Law - Learn about the ultimate weapon when you're overburdened with debt.
- Wage Garnishment & Other Debt Issues - Understand your rights with regards to wage garnishments, credit card debt, and other types of debt.
Business Forms & Contracts
- Bill Of Sale Of Business
- Grant of Right To Use Name
- Shareholders Agreement
- Business Conduction By Partners
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What is Business and Corporate Law?
Running your own business demands a lot of perseverance and determination. This often leaves little time to deal with the legal issues that constantly plague small businesses. Having a business law attorney on your side can make a huge difference in the day-to-day operations of your business, helping you deal with a wide range of issues related to taxes, finance, business formations, acquisitions, mergers, employment/labor laws, contract negotiations, and litigation.
Types of Business Structures
There are many different ways that you can structure your business. If you are just starting out and aren't sure what structure would be best for your circumstances, or have been in business for awhile and need to restructure your business, an experienced business law attorney can help. Major types of business structures in the United States include:
- Sole proprietorship: A sole proprietorship is a simple business structure that allows a person to conduct business as his or her self. Under this structure the owner and his or her company are viewed as one and the same. While this is an easy way to start doing business, it is important to be aware that a sole proprietorship does not protect the owner from any business liabilities.
- Partnership: A partnership is a simple business structure for businesses with more than one owner. There are two types of partnerships: general partnerships and limited partnerships. When considering this business structure, understand that owners maintain personal liability for the business. Owners with limited partnerships may face limited liability.
- Corporation: Forming a corporation establishes a business as a separate legal entity, providing owners with limited liability protection. There are two types of corporations: C-corporations and S-corporations. There are several key differences between these two types of corporations, including tax issues and shareholder restrictions.
- Limited Liability Company: Limited liability companies establish businesses as separate legal entities from their owners, but allows owners to report business gains and losses on their own personal tax returns. Owners are shielded from business liabilities under this structure; however, LLCs are not available in all states.
Contact a Business Law Lawyer
Build your business on a solid foundation with the help of an experienced business law lawyer. A lawyer can not only help you determine what business structure is the best way to organize your business, but a good business lawyer can provide you with the legal advice you need to protect your interests and grow or maintain your business. (Find a Business Law Attorney in your area.)
- Bureau of Labor Statistics Statistical information and other sites
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- Legal Information Institute - Corporations Federal and State material, other references, an overview of corporations
- Legal Information Institute - Categorized Topics Enterprise law
- The Faculty of Law Centre for corporate law and securities regulation
- EDGAR Database of corporate information
- U.S. Small Business Administration Financial, technical and management assistance for small businesses