Create Your Legal Business Identity
You've heard you need to give your business a legal identity but there are so many options. It's hard to know which one is for you. And what's the difference anyway? Is it really that important? After all, you're doing just fine without making it all more complicated.
Protecting your business from the unexpected is important but it doesn't have to be complicated.
You may want to become a limited liability company, a C corporation, a sole proprietor, a nonprofit corporation or a partnership. Some of my clients know exactly what they want their business entity and structure to be. But often they're not sure. It can feel so confusing sorting through all the advice they've gotten from their friends and family. I help business owners figure out which is best for them and their business.
Then, we create the legal documents that give birth to their new legal business identity. Sometimes, it's a new business being born. Sometimes it's a business that's been around for a while just now getting recognized with a new legal identity.
Once the business' legal identity is created, continued record keeping is vital to protecting the future of your business.
Businesses prove their existence as separate legal entities by the records that are created and kept for it. There are serious consequences to failing to keep proper records. Without the necessary paperwork, a business can be at risk of being taken away from it's owner if the unexpected were to occur.
Protect Your Business and Your Family
Legal documents are necessary to enhance and protect the many relationships every business has. Those documents include things like buy-sell agreements, confidentiality agreements, contracts for independent contractors, consulting agreements, employer-employee contracts and handbooks. I help my clients decide what contracts and documents they need. I write documents you can use with confidence.
Have you ever tried to read a legal document only to find yourself completely confused and frustrated? The business documents I create are readable and understandable. Because business owners who understand their documents, use them more confidently, those documents protect my clients while creating harmonious business relationships.
Business contracts represent the business owner. A business contract sets the tone between a business owner and her customer. How contracts are written is important. Business contracts tell a potential client so very much about the business: how the business owner wants to be paid, what they will do for the customer, and how any potential conflicts will be resolved. A business contract is the most important marketing piece a business owner can create. A poorly written business contract can lose a sale. Or leave a business owner unprotected.
A business contract is Exhibit A in a law suit if a customer fails to pay. In a law suit, the business contract must be understood by a judge. To win a law suit, a business contract must have all of the legal elements required by the controlling court.
Well written, easy to use and understand legal documents can protect a business owner and his family from the nightmares of legal liability. An unexpected tragedy followed by a devastating lawsuit... These are not things an entrepreneur expects when they start their own business. Take the time to plan ahead. Being in business is a dream come true. No one wants to see it turn into a nightmare.
Some of my clients decide they will take their last breath owning their business. Some decide to sell their business while they are healthy and able to enjoy their retirement. But whatever they decide, having a succession plan in place is important. Some succession plans may be simple and simply expressed. Others may need more attention. If an owner can speak their plan, it can be put into writing to be accomplished.
Call 646-448-1748 today for your free 30 minute consultation!