A business’s structure and organization can affect its taxes and the amount of liability its owner or board is exposed to. Additionally, the bylaws and articles of incorporation of a business are important for providing transparency in accounting matters, reporting duties, and procedural issues. At the law offices of Benckendorf & Benckendorf, P.C., our attorneys work closely with small- and medium-sized businesses to evaluate and determine how best to organize the company.
We also work with clients who are just starting out and are interested in establishing a firm legal foundation for their restaurant, real estate business, retail store, or subcontracting company, or other type of company. Our office consults tax experts, accountants, and financial planners for assistance in determining how to position your company for tax, financial, and legal purposes.
Establishing a Firm Legal Foundation For Your Business
The business organization attorneys at Benckendorf & Benckendorf, P.C., advise and represent clients in regard to the following:
- Limited Liability Company, Individually and Series (LLC)
- Limited Liability Partnerships (LLP)
- C Corporations
- S Corporations
- Incorporating a new or existing business
- Preparing documents for a partnership or LLC
- Negotiating and preparing documents for the sale or purchase of businesses
- Drafting redemption, buy-sell, employment, non-compete, and other agreements and contracts
- Drafting annual and special minutes and informal actions, as well as annual reports
- Litigating business-related matters
- Handling business dissolutions
- LLCs vs. Corporations
Why By laws Matter – Protecting Yourself From Liability
Many businesses start as ventures between friends or family members. Consequently, money and bank accounts are managed with little formal reporting structure or accountability. Once a partnership or corporation is established, however, it’s essential that financial accountability and transparency in regard to bank accounts and company funds be provided for in your bylaws or partnership agreement.
If your business partner decides to “borrow” company funds to pay for a child’s college tuition, you could be held legally liable to investors, shareholders, or vendors if your bylaws don’t indemnify you in certain situations. Our attorneys explain how to put protections and checks and balances in place, so you don’t find yourself facing legal difficulties or criminal charges later.
Contact Business Law Attorneys at Benckendorf & Benckendorf, P.C.
We understand how to organize a business while avoiding different kinds of liability. To schedule an appointment to discuss your business matter, contact the law offices of Benckendorf & Benckendorf, P.C., today.