Business Startups

In order to start a successful business, you need the right advisors on your team to start you off on the right foot.

The early decision you make about the legal structure of your business will impact you every day of operation all the way through your exit strategy. We have the expertise you are looking for. We consider every factor, such as your liability and personal risk, the need for third-party investors, tax treatment, the size and location of your business, and more to zero in on the proper business entity. Please call us at (301) 251-1180 or submit an online inquiry so we can assist you.

Which type of entity is right for my new business?

It’s a critical question. We regularly help clients determine whether an LLC, S-Corp, C-Corp, LLP or LP provides the right structure, flexibility and protection for your type of business. We will review the pros and cons of the best options, and then create the appropriate business formation documents. We will also assist you proactively to keep your business in compliance with the laws and regulations that govern it.

I’m going into business with my best friend. Do we need an operating or shareholders agreement now?

Absolutely. Today, you have common ground and enthusiasm. Six months or six years from now, your visions and personal interests almost certainly will change. You need to look at who controls the finances, who has the power to hire and fire, and what will happen if your partner becomes disabled or dies. The best time to answer these questions is in the early stages of a business relationship. An operating agreement cannot prevent conflict, but it can lay the groundwork for a faster, less costly resolution if differences arise in the future.

Is it okay to use form contracts I find on the Internet?

No, no and no. It’s virtually guaranteed that a generic form contract won’t adequately protect your interests. Essential terms are often missing; included terms may not even be valid in your jurisdiction. Once in force, the contract can deny or limit your options in case of a later dispute. A few dollars saved up front can cost you dearly in fees and potential litigation later. We will work with you to draft the agreement efficiently – and to cover every base on your behalf.