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New Company Formation

Midland Business Litigation Attorneys for Your Business Needs- (432) 214-8125

Forming a new business can take a considerable amount of work and legal knowledge. One of the first steps you will need to take is to determine the structure of your business, which will require you to evaluate the differences in liability, taxation, management, and ownership. An experienced Midland business formation lawyer can help you understand the intricacies of forming a new company and can guide you through every step of the process.

Contact the Dean Law Firm to learn more. Call (432) 214-8125 to schedule a free consultation.

Things to Consider During Business Formation

There are many ways to organize your new business, and each structure has its benefits and drawbacks. Among the many factors to consider, two stand out as critically important. Liability protection and taxes often are driving factors behind the choice to choose one type of structure over another.

Certain types of entities provide more protection from liability for you as a business owner. This can shield your personal assets from lawsuits against your company, as well as protect your company from your personal debts. Certain types of entities can also affect the way you pay taxes. Traditional corporations are subject to double taxation at both the personal and corporate level. LLCs an S-Corporations can offer pass-through taxation, which can reduce the amount of taxes you are responsible to pay.

Other considerations include the number of owners the company will have, the management structure, the ability to take on investors, or plans to sell the company in the future. A business formation lawyer can help you assess business issues and develop a formation strategy to minimize liability risks and maximize operational efficiency.

Types of Business Entities

There are many different structures that your business can use, each with their own merits. These types of entities include:

  • Non-profit
  • Sole Proprietorship
  • General Partnership
  • Limited Partnership
  • Limited Liability Partnership (LLP)
  • Limited Liability Company (LLC)
  • Professional Corporation (PC)
  • Close Corporation
  • S-Corporation
  • C-Corporation

Document Filing

Once the entity has been chosen and the appropriate documents have been filed with the state, there are a number of other documents that will need to be prepared, including bylaws, operating agreements, governing documents, and documents detailing the purchase or sale of company equity. In addition to transactional law documents, business formation also will require other services, such as:

  • Business name assessment
  • Business name reservation
  • Prepare and file formation documents
  • Draft operating agreements, such as corporate by-laws
  • Draft shareholder agreements
  • Obtain Agent for Process
  • Obtain EIN

Starting a New Business? Let Our Midland Business Litigation Attorneys Help - (432) 214-8125

At the Dean Law Firm, we have been helping business owners start their own business since 1995. We are dedicated to helping our clients successfully tackle the challenges of business formation, and our experienced Midland business litigation attorneys are ready to provide guidance and advice for every step of the process.

Get in touch with our offices to schedule a free consultation. Call (432) 214-8125 today.

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