Business

• Formation

• Organization

• Restructuring

Owning a business is often the realization of dreams, intense planning and unrivaled hard work. Yet where there’s a reward, there’s also risk.

Starting and maintaining a business is difficult, and entrepreneurs who don’t approach the formation of their businesses with the most current, accurate and relevant legal advice in addition to a properly researched and well thought out strategy will end up facing serious problems which can lead to severe financial consequences and/or the loss or destruction of their business. Legal advice and assistance are essential in the formation and maintenance of every type of business.

Understanding Business Structures

Among the most important and preliminary decisions necessary to your Business is the selection of which of the many alternatives is the best organizational structure to suit your specific concerns, goals and positioning. There is a significant buzz among lay persons about forming an S-Corp, although misinformation about this federal tax designation is rampant. Many business owners don’t understand the difference between organizational structure and tax designations, much less those newly entering the arena. ICEE Law, LLC, will explain in easy-to-understand language the benefits and drawbacks of selecting one particular business structure and tax designation over another.

Each business structure offers unique advantages and disadvantages dependent upon many factors specific to each business, such as; geographical location, anticipated revenue, number and types of co-owners or investors and many others. Corporations, for example, are separate legal entities from owners. As a result, corporations can accrue debt and directly take on liabilities which can provide protection for owners.

If a company accrues too much debt and is forced into bankruptcy, the owner of a sole proprietorship, is often directly liable. They will likely have to pay for the debt out of their own personal finances and or property. However, properly structured, maintained and operated a corporation can legally shift the financial liability company.

Corporate structures also allow owners to attain assistance with start-up and operational costs utilizing share allocation to investors.

Benefits of Hiring a Business Lawyer

The attorneys at ICEE Law, LLC, provide crucial advice regarding selecting your organizational structure and the necessary steps to protect your vision. It’s crucial to have the correct supporting documentation, such as bylaws, operational agreements, registration documents, federal and state tax recognition, DBAs, and roadmaps for ongoing maintenance and required renewal filings among other things.

Navigating the nuances of business law can be difficult. As the Business owner you are the Expert when it comes to the products and services you offer, however, many failed businesses realized too late that they were lacking and in need of the expertise provided by business attorneys. The assumption of simplicity in preparing and filing the initial formation documents is dangerously misleading, overlooked errors and improperly completed responses can and do result in timely and costly consequences.

In addition to forming new entities, ICEE Law LLC, also provides expertise in business restructuring, dissolutions, and mergers.

While you focus on the daily operations of your business you can and should rely on ICEE Law, LLC, to provide the necessary legal counsel and services to support your long-term success.

ICEE Law, LLC also assists with acquiring and registering domains, obtaining and setting up branded email systems, securing business communications systems including direct phone lines, sms/mms texting capabilities, facsimile services, virtual and business mailing addresses. When you are ready to start the process of launching your idea into your business, ICEE Law, LLC, will help you with every step, from formation/restructuring to maintenance and dissolutions. Get in touch with us today to set up a consultation.