One of the most important decisions when starting a business is what type of business organization to form. Do I form a sole proprietorship, a partnership, a limited partnership, a corporation, or a limited liability company? The choice of entity is impacted by the type and nature of the business, the personal financial situation of the owners, the risks associated with the business, the availability of insurance for the business, and the need to continue the life of the business. 

There may be advantages and disadvantages to each type of entity depending on the type of business being formed. The main benefit of incorporation is to limit the liability of the owners. If the business needs capital from non-active investors, the need for limited personal liability is great. Once the business is incorporated, the business must follow the formalities of the corporation and keep appropriate records. 

Donald M. Banman will help you to form your Corporation or Limited Liability Company (LLC) and to maintain your corporate status. Don will also help you with Business Contracts, Buy-Sell Agreements, and Business Litigation.  Call to schedule a consult today, 903-463-0008.