Entrepreneurs are in charge of multiple tasks and should be able to juggle a variety of tasks before making their business public. This includes establishing a legal structure for the business as well – also known as business formation. Business formation is a necessary step in the early parts of establishing a business. Whether you’re trying to register a simple DBA or form a partnership, the legal procedures are essential to make sure the business falls into state guidelines to ensure proper business formation.
The way a business is formed would be able to determine the founder’s personal liabilities, how taxes are paid, and other important details about the business. For instance, a sole trader normally makes decisions on his/her own, whereas in a partnership, a partner must get the approval of the other partners to make any major decisions for the company.
The main legal structures for a business are:
- Sole trader.
- Limited Liability Companies.
- Non-profit organizations.
Since Orlando business formation is the first major step in establishing new companies, a proper business structure can be used to help secure financing, executives, and other essential pillars to hold up a business.
For entrepreneurs to decide on the major decisions of the company, they should first be able to determine the legal structure to go ahead with. Deciding on the legal structure is an integral part of establishing a business which would, in turn, be the result of many business law related factors in the future.
Starting a Partnership.
The first thing to do when starting a partnership is to analyze and gather a list of information needed to form the partnership. The next thing would be to create a partnership agreement. The partnership agreement is necessary as it would define the business relationship. Finally, establishing a proper agreement between the partners while gathering various resources pertaining to a partnership should be done. The help of an attorney can be used to make sure all things are in order.
Incorporating a Small Business.
There is a list of crucial steps to start a corporation. Gaining in-depth knowledge and information about the processes of the incorporation would be able to help establish the business in an orderly manner. Since forming a small business can be tricky, the best thing to do would be to hire an Orlando business formation attorney to help with all the necessary procedures.
Forming an LLC.
Establishing a Limited Liability Company isn’t as hard as most people perceive. First and foremost, the entrepreneurs should have done their research regarding the formation of the business. Additionally, the necessary paperwork should be gathered. The best thing to do would be to hire an attorney to provide legal advice regarding the business while being made sure the paperwork has been completed efficiently.
Forming a Non-Profit.
There are important steps when forming a non-profit organization. In fact, in-depth knowledge is needed to establish the business. Additionally, there are a set of guidelines and government resources that are required for the establishment. An Orlando business formation attorney could be able to help things fall in line with the formation.
While there are many procedures that entrepreneurs can do themselves,
the formation of most businesses may benefit from the help of an experienced attorney in the area of Orlando business formation.
That’s where The Law Offices of Gretchen Ortiz comes in. Gretchen Ortiz Law Firm is one of the best law firms in town specializing in different areas of law including business formation as well. We guarantee all clients are provided with the legal help they need to ensure that they get the right legal assistance they are looking for.
So, call us,
we are the right choice!
Contact us today for wise counsel in matters of Business Formation. Our law firm proudly serves clients in all of Central Florida, including Orlando and the surrounding cities.