Business Formation Attorneys
Although many new businesses are the result of a great idea and lofty ambitions, the reality is that a business is first and foremost a legal entity. It is critical to the short-term and long-term success of your business to work with an experienced San Jose business lawyer who can oversee the legal aspects of your business’s beginning.
At SAC Attorneys LLP, our business law team brings decades of combined legal experience representing clients in all aspects of business and corporate law, including business formation.The Steps to Starting a New Business
We help clients with all aspects of starting new businesses, including:
- Business planning: Starting a new business requires more than just a great idea; it requires a plan. With experience and dedication, our attorneys can help you take your initial idea and formulate a winning strategy for a successful business.
- Entity selection: Choosing to operate as an LLC, a sole proprietorship or other business entity will have a significant impact on your exposure to legal liability, your taxes and other factors. Our lawyers can give you sound legal advice and consultation to choose the business model that best fits your long-term objectives.
- Operating documents: We help clients draft their initial operating documents, shareholder agreements, mission statements and other essential documents to begin their businesses.
- Filing with the secretary of state: Our attorneys can help you get all of the appropriate documentation organized, prepared, and timely filed with the secretary of state to start your business.
- Contracts: We help clients with negotiation, and drafting and review of the initial contracts at the beginning of their businesses including vendor agreements, partnership agreements, and lease and rental agreements.
- Financing: We can guide you through how to obtain capital and manage budgeting constraints as well as advise clients on venture financing.
- Real estate: We can assist with buy/sell agreements as well as resolve disputes involving real estate, land rights, etc.
One of the most important steps when establishing a new business is selecting the right legal structure and entity. The type of structure you choose can affect your taxes, type of paperwork, and potential liability issues that your company may face. It is not a decision that entrepreneurs should take lightly since it can have broad financial and legal implications for your business.
The different types of business entities include:
- Sole proprietorship: As one of the most basic of business entities, this is the simplest structure to establish. You can be the sole owner of the business and maintain complete control – at the same time, this also means you are held personally liable for any debts and liabilities.
- Limited Liability Company (LLC): This is a popular choice for many business owners because an LLC is comprised of several members, all of whom can be protected from liability. Each of the LLC’s members can share in the profits and losses similar to that of a partnership.
- C Corporation: A corporation is established as an independent legal entity that is owned by shareholders, who are legally liable for the business’ debts and actions. This type of entity can have more complex legal and tax requirements, which is why it should be reserved for larger companies.
- Partnership: There are three different types of partnerships: General Partnerships, Limited Partnerships, and Joint Ventures. In a partnership, a single business is usually owned by two or more partners. All the owners contribute to the operation and funding of the business, including decision making and the profits/losses.
Our business attorneys can help you evaluate all issues that go into choosing the right business entity, including complexity, risk, tax implications, ability to transfer ownership, and capital. We have helped numerous businesses establish the right entity and lay the foundation for their success.Contact an Experienced San Francisco Attorney
Before you embark on your new business, discuss your plans and find out what you’ll need to move forward. Contact us online or call us at (408) 436-0789. We serve clients in Cupertino, Campbell, Silicon Valley, San Francisco, and throughout California.