Step One: Should We Incorporate?
Deciding which type of business entity will work best for your business is one of the most important decisions a business person will make. Because there are so many issues to consider when making this decision, it is a good idea to work with a seasoned business attorney. We can help you evaluate and weigh the long-term risks and benefits of each option.
The lawyers at Mayfield & Associates have more than 20 years of business experience in addition to our legal experience. That means we know how to put together solutions for your business that work in the real world. To speak with an attorney, please contact our Solana Beach office at 858-345-5474.
Getting Started With Business Formation
We begin each business formation discussion by asking our clients what their goals are and what they want to accomplish. With this in mind, we can determine what will work best for your company. We also take a long-term view of each situation, looking ahead to what may help your business grow in the future.
After learning about your business goals, we will discuss the risks, benefits and liabilities of the various business entities, including:
- Corporations
- Limited liability companies (LLC)
- Subchapter S corporations
- Professional corporations
- Sole proprietorships
- General partnerships
- Limited partnerships
- Limited liability partnerships (LLP)
Important Points for Privately-Held Companies
Privately-held companies must set up ownership in a manner that provides for an orderly transition of business if one of the principals leaves or dies. We can draft buy-sell agreements that will accomplish this for your company and prevent interrupting business in the future. We also often recommend that privately-held companies have key-person insurance to cover potential losses.
Business Formation and Funding
While we do not help businesses find sources of funding, we do draft and review legal documents relating to it. We can draft private placement memoranda for stock or debt, handle securities exemptions and registration, and take care of getting the business qualified with state of California.
For business formation assistance, please call 858-345-5474 to make an appointment or send us an e-mail for a free consultation.
