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Business Law: Formation & Litigation
If you are a business owner and want to protect your personal assets from potential creditors who may target you or your business, it is in your best interests to incorporate your business or establish your business as a LLC. Regardless of how carefully you operate your business, there will likely come a time where human error, or pure chance, causes a potential creditor to go after your business or personal assets. By propertly incorporating your business or becoming an LLC, you are taking the first measure to protect your personal assets. The dynamics or your business dictate whether you should choose to incorporate or become an LLC, and the choice you make will have different tax implications. For these reasons alone, hiring an attorney experienced in business formation is necessary to forming your business in a way that makes the most sense and creates the most benefits for you and your business.
Another important aspect of forming your business is structuring how the business will operate from a legal perspective. If you are incorporating your business, you will need to draft Articles of Incorporation and Bylaws which will become your corporation's "laws", which guide your the day to day operations as well as large decisions that your corporation will face. If you establish your business as a LLC, you will similarly need to draft Articles of Organization and and Operating Agreement to guide your LLC. You will also need to file various documents with your state's Secretary of State to register your business entity.
Once you have formed and structured your business entity, to successfully protect your company, you must carry out business in such a way to demonstrate that your company exists entirely independent from your personal affairs. The attorneys at William B. Cherry and Associates are experienced in business formation in California and Nevada.
Contact William B. Cherry & Associates today to schedule a consultation regarding your business formation and litigation needs.