The Process of Forming a Company

When forming a business, there are a ton of legal hoops to jump through. There are federal and state business laws to which new businesses must adhere. Attorneys can help those wanting to start a business with first choosing the right business organization form.

With many different business entities to choose from, it can be hard to determine which one is best. An experienced attorney can recommend the right path and make sure all legal bases are covered.

Each business entity has different tax requirements, business liability, management, and start-up costs associated with it. Depending on the nature of the business, the size and the financial state of those starting, they will fit best in one category over the others. 

Depending on which is decided upon, the next step is to draft the correct documents. Partnerships will need a partnership agreement, while corporations will need articles of incorporation and bylaws. After drafting all of the documents, they must be filed correctly. Lastly, the necessary business start-up permits and licenses from local, state, and federal governments need to be procured.

For those who have never started a business before, the process might seem daunting. Finding an attorney who is educated in company formation, such as those at InnovaCounsel, can take the stress out of business start-ups.  


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