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Call an Orlando business law attorney at TK Law for strategic and start-to-finish legal representation in your business formation. Our attorneys are clear on the needs for different types of business structures in Florida. We guide our clients on what process best aligns with their goals.
Knowing which structure to undertake is essential. As our video points out, the business organization you chose will have financial consequences on the future of your company. A lawyer with experience in business law and intellectual property law removes the concerns and mistakes made when an individual or group decides to take on company ownership.
Contact TK Law today for a free, no-obligation consultation for guidance with your startup business: 1-855-Kramer Now (1-855-572-6376).
Speak with an experienced Florida attorney at our firm today.
Call 855-Kramer-Now (855-572-6376).
General Business Types
Each business structure has its own set of legal and tax implications. Determining which structure is most efficient depends on your business needs, such as:
- Cooperative. Usually involving an elected board or officers, owners (or user-owners) operate the business or organization for the benefit of each involved party. They divide profits and earnings as such. Cooperatives are typical within the healthcare, agriculture, art, retail and restaurant trades.
- Corporation. A corporation is typically a larger independent business with employees, and is owned by shareholders. Advantages of incorporating a business include personal asset protection, enhanced credibility, brand protection, some tax benefits and deductible business expenses. Each shareholder is responsible for his or her own actions and incurred debts. Administrative fees are generally costly and the tax and legal requirements can be extensive. A corporation sometimes involves stock offering.
- Limited Liability Company (LLC). LLCs also protect you personally from business liabilities. An LLC combines the benefits and flexibilities of some other business structures to allow owners to serve as “members” in a profit and loss environment. Each member is responsible for his or her own federal tax returns.
- Partnership. Partnerships operate with two or more owners or “partners.” Each partner contributes to every part of the business and subsequently shares in profits and losses.
- Sole Proprietorship. An unincorporated business that is owned and run by only one person, sole proprietorships are the most basic business structure option available. Sole ownership entitles the owner to all assets and liabilities.
Establishment Process
While structuring a business depends on which type you select, there are some aspects synonymous with most business types. TK Law business lawyers guide clients on how to:
- File articles of incorporation
- Establish bylaws or membership applications
- Obtain licenses and permits
- Create operating agreements
- Purchase appropriate business insurance
Acting as your Orlando business law attorney, we will advise on the legal implications for hiring employees, and will assist you with employment agreements, non-disclosure agreements and other applicable employee contracts and guidance.
Contact TK Law today for a comprehensive range of business services. Our attorneys are experienced in multiple areas of the law and are ready to handle any legal issue that a person or business may deal with in their lifetime. We are available at your convenience.
Get Help with Legal Issues Now! - Call 855-Kramer-Now (855-572-6376)
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