Cooperstown Business Formation Lawyer

Meeting All of Your Business Needs

You’ve got the entrepreneurial spirit and a great business idea. Now, all you need to make your dreams come true is to officially start your own business. Starting a business can be complex, especially for those without a legal background. By consulting a business formation attorney, you can ensure your company is legally sound and that it meets all of your needs.

At Lauren Glynn Law PLLC, we know how much you have on your plate. Being a business owner is hard work, but starting your small business doesn’t have to be. With our attorney on your side, you can focus on what matters most while we do the legal work for you.

If you’re ready to create your own business in Cooperstown, don’t hesitate to reach out. Call us today at 607-303-6554 to book your free discovery call.

What Kinds of Businesses Can You Help With?

Picking the right type of business for your needs is a critical first step. In New York, there are various types of business structures to choose from, all with different benefits. Our lawyer can help you determine which business is suitable for your needs.

The most common types of business formation include:

Sole Proprietorships

A sole proprietorship is a simple type of business. The owner is the sole operator and has total control over all aspects of the business. However, there is no distinction between the owner and the business, so the owner is responsible for any debts and liabilities the business takes on. If you would like to maintain total control over your business and start small, then a sole proprietorship might be right for you.

Partnerships

When two or more people agree to share the profits and debts of a business, it is called a partnership. You can choose a general partnership, where all partners are equally responsible, or a limited partnership, where one or more partners act as investors and have limited liability in the company. If there are multiple individuals who would like to share in the decision-making about your business, then a partnership may be right for you.

Limited Liability Companies (LLCs)

In an LLC, business owners have limited liability protection while still maintaining the flexibility of a partnership. Business owners, also called members, aren’t liable for the company’s liabilities or debts. Many small business owners choose to form an LLC, as it offers tax flexibility and is relatively easy to start.

Corporations

Corporations are separate legal entities that offer limited liability protection to the business owner. Corporations can issue stock, which means they have more complex regulations and tax requirements. C-corporations are taxed separately from their owners, while S-corporations pass income, credits, and deductions to shareholders. If you are planning to raise capital through investors or go public, then a corporation might be for you.

Nonprofits

Businesses that engage in educational, charitable, or religious activities often form nonprofit organizations. These organizations are exempt from federal income tax (and, in some cases, state taxes). However, business owners must adhere to strict regulations to maintain their tax-exempt status.

What Legal Documents Are Involved in Business Formation?

Picking the right type of business is essential, but picking the right kind of business documents can be even more challenging. The type of business you’re interested in will impact the documents you must use to create it. When you work with our law firm, we’ll create and customize business documents to meet your specific needs.

Business documents often include the following:

Shareholder Agreements

Shareholder agreements set the responsibilities and obligations of all shareholders. A buy-sell agreement, which is often included in a shareholder agreement, creates the termination protocol for a shareholder’s interest if they pass away or transfer ownership.

Operating Agreements

Operating agreements establish the ownership structure of your business and define how corporate actions are to be taken. They also create the termination guidelines for any member’s interest if they pass away or transfer ownership.

Corporate Management

Corporate formalities are essential if you are establishing a corporation. A detailed corporate governance and corporate management document will help you limit liability and meet the requirements to maintain your business.

Structuring of Equity Compensation

Tax-efficient equity participation programs help you reach your goals and meet your capitalization structure. We’ll help you explore a variety of programs that meet your business needs.

What Does a Business Formation Lawyer Do?

As a future business owner, you know how important it is to create your business correctly. By consulting with our business formation attorney, you can get valuable insight and information about creating your business to ensure you’re set up for success.

Our law firm can do the following:

• Help you choose the right business structure to meet your needs. Depending on what your goals are, there may be a business structure that’s more suitable than the others. We can discuss your current situation and your future goals to help you make a choice
• Prepare and file legal documents. Creating a business involves many legal documents, all of which must be error-free and filed on time. We’ll draft and file all the documentation required for your business
•  Review and negotiate all contracts and agreements. Shareholders, partners, and other interested parties must sign agreements that meet your needs. We can review all contracts and negotiate for your best interests before you sign
• Offer advice and insights using our extensive experience. Any questions or concerns you have will be addressed immediately by our experienced business formation attorney

Do You Need a Business Formation Attorney in Cooperstown?

When it comes to following your dream of being a business owner, the best thing you can do for yourself is to work with our business formation attorney. We’ll help you strategically create documents and agreements to meet your goals and objectives for years to come.

Lauren Glynn Law PLLC has helped clients just like you in Cooperstown and around the state. Whether you’re ready to create your business today or you simply want to learn more about our services, don’t hesitate to reach out. Contact our law firm by calling 607-303-6554 today.