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* Ownership Succession
* Management Succession
Your specific situation dictates which of the above referenced disciplines should be engaged. Too often the business owner buys a solution in the hope that the solution will fit their problem. We are uniquely qualified to uncover the clients specific objectives, facilitate the process, and respond to the legal issues during implementation of a comprehensive plan.
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There are an number of initial questions to be addressed by an entrepreneur contemplating the formation of a business:
What legal form should the business take?
* Corporation (S Corp, C Corp)
* Limited Liability Company (LLC)
* Limited Partnership ((LP)
* General Partnership (GP)
* Sole Proprietorship
What are the creditor protection and asset preservation benefits for each type of entity?
What is the tax treatment to the entity and the owners of each type and how can I minimize taxes?
Which structure is most suitable and flexible from a managerial and governance standpoint?
What assets should be transferred to the business?
How will the business form affect the raising of capital?
How should I properly document the arrangement that I have with co-owners?
Making the right choice depends upon a variety of factors and to be done properly will require the involvement of a business attorney and your accountant. In addition, especially when family members are involved in the business, it is frequently advisable to integrate your business plan with your estate plan.