Whether you’re just starting out or a seasoned business owner, the odds are, at some point in time, you’re going to need a lawyer to help with legal issues and inquiries. It’s important for any business, big or small, to have an ongoing relationship with a good attorney.
You have to know the different options available to start a new company. Create a Limited Liability Corporation (LLC) for Protection: State laws govern formation of a limited liability company (LLC). Filing requirements may differ from state to state. Forming a LLC for your new business, the structure and advantages are basically the same across all jurisdictions. A LLC is well-suited to smaller businesses, but you can form one for almost any business endeavor other than banking or insurance.
Forming a LLC for your business protects you and any members. If someone sues your business, any court judgment that results can’t affect your personal assets. Your LLC is a separate entity from you. Typically, you’re not personally responsible for its debts or liabilities.
Mergers and acquisitions, also referred to as M&A, are typically complex transactions. In some cases, the contractual documents can be hundreds of pages long, although your agreement may be shorter if your business is small. Mergers and acquisitions are often effective ways for small businesses to gain entry into new markets because the other company involved may already have access to these markets.