Incorporating your business is one of the best ways you can protect your personal assets. When you incorporate, you create a separate legal entity to run your business. After entity formation, one of the first decisions you make will be how the company should be structured. The structure you choose will impact your personal liability, partnerships, investments into your business, the amount of paperwork you need to file, and the taxes you need to pay.
There are several types of entities you can form, each with a different purpose. They include:
- Sole proprietorship (DBA or “doing business as”)
- Limited liability company (LLC)
- Limited partnership (LP)
- Limited liability partnership (LLP)
- Family limited partnership (FLP)
- Professional corporations
- Non-profits (including 501[c])
- Investment vehicles (LLC or corp.)
- Joint venture
- And more
Entity formation can be risky – anyone can fill out the basic paperwork, but that paperwork does not necessarily protect you from anything without an operating agreement and bylaws. Because there are so many laws and regulations, an entity formation lawyer can be a necessary ally, helping you through such legal paperwork as business and employment contracts, issuing stock (buy/sell agreements), license and permit applications, researching and registering a corporate name, and preparing and filing your articles of incorporation.
When you form your small business, you’re taking a chance that entity formation will tangibly improve your business and protect your personal assets. The Law Offices of Steven Brian Davis have over 35 years of experience as a small business attorney. As both an attorney who helps with small businesses, but also an attorney running his own small business (our offices) in San Diego County, no one knows better than us how much you are gambling on your small business. Our offices provide personal support to help you succeed in all of your entity formation endeavors.
Call The Law Offices Of Steven Brian Davis today: (858) 451-1004