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Hello Jeffrey,
Many people dream of owning their own business. The prospect can be both exciting and intimidating, and most people simply do not know where to start. Consulting an attorney experienced in business law, tax, and estate planning is a great place to begin that journey. Our attorneys here at The Cohen Law Firm have the expertise to guide you through the entire life cycle of your business, from start-up or purchase, all the way through its lifetime operations, and its eventual dissolution, sale, or succession.
If you are starting a new venture, the first step is deciding on an appropriate business entity. There are a number of options, including corporations, limited liability companies (LLCs), partnerships, and sole proprietorships. Many factors impact the choice of entity, such as the type of business, whether you anticipate having employees (and if so, how many of them), whether you intend to have investors, the location of your business, tax considerations, and capital, among other things. It is important to have competent business and tax counsel to assist in this decision and to draft the appropriate entity formation documents.
If you are purchasing an existing business, the process usually is more complex. There are many questions that need to be asked before acquisition. You may be acquiring debts and a customer base or you may need assistance with a due diligence review before purchase. An attorney experienced in business and tax law is essential in this case. Our attorneys can provide document review and assistance with purchase negotiations, as needed.
Once you have established your new business or purchased an existing business, you need to make sure your business’s governing documents are in order and that they accomplish all of your business goals. You will need to maintain bylaws or an operating agreement, conduct annual meetings, and keep minutes of company actions. Our attorneys draft and review these types of documents on a regular basis and are available to assist and advise you.
In addition, if you have employees, there are myriad other considerations. Your business may have important trade secrets or other confidential information that you need to protect upon an employee’s separation of employment. In such cases, it is critical that you have the appropriate legal documents in place to protect your business. Our attorneys have experience reviewing and drafting shareholder or partnership agreements, buy-sell agreements, confidentiality agreements, non-disclosure agreements (NDAs), non-competition agreements, and other employment contracts.
Finally, business succession planning is essential throughout the life of your business. At some point, you may have to consider the dissolution or sale of the business. Our attorneys can provide advice regarding the proper course of action for your unique situation, as well as review or draft contracts such as asset purchase agreements, equity purchase agreements, personal goodwill agreements, promissory notes, and bills of sale. Also, you may want to consider passing your business interests to family members, friends, or employees. Our attorneys have many years of estate planning experience and can provide guidance in this regard, as well.
We understand that every business is distinct and has its own unique needs. We have 25 years of experience in advising business owners, providing sound legal and tax advice, and drafting contracts. We are here to give you the personal attention you need, and to help you every step of the way. Call us today for a free initial consultation.
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