York, PA Business Attorneys Will Help You Explore Every Entity Choice

One of the first decisions a business must make is choosing a business structure. This legal framework defines who owns your company, how it is organized, how profits are distributed and tax obligations.

Navigating through the entity selection process can be daunting for first-timers. An adept LLC and entity formation lawyer can simplify the process by guiding you through a range of available choices.

Sole Proprietorship

The simplest and least expensive business type for a one-person operation. Drawbacks include unlimited personal liability, which could put personal assets at risk.

Limited Liability Company (LLC)

An LLC combines the operations efficiency and tax advantages of a partnership with the reduced personal liability of a corporation. However, it may not safeguard personal assets from creditors.

General Partnership

Two or more individuals share ownership in this type of business. General partnerships have relatively easy formation and dissolution procedures but hold partners jointly liable for debts.

Limited Liability Partnership (LLP)

An LLP is a more formal version of a general partnership. It offers increased liability protection and simpler compliance requirements.

C-Corporation

This is the most common incorporated business type. Owners are liable only to the extent of their investments. It has a separate legal and tax life.

S-Corporation

Differing from a C-corporation, an S-corporation undergoes taxation of shareholder income at the personal level. Operational procedures are strict and the number of shareholders is limited.

Professional Corporation (PC)

Primarily for professionals like engineers, accountants and health care professionals, a PC may also prove beneficial for unincorporated businesses seeking tax breaks.

Form Your Business With Experienced Guidance Every Step of the Way

Business formation lawyers, like the attorneys at MPL Law, provide the knowledge and experience to help your company navigate the complex legal landscape of forming a business. Once you have selected your entity structure, our lawyers can help you start your business, guiding you through each step to save time, protect your interests and prevent costly mistakes.

1. Register Your Business Name

A business name defines your brand and the services you provide. While picking a name sounds simple, it involves thoroughly searching for existing trademarks to avoid future legal concerns. A business lawyer will ensure the new name is not already in use and adheres to state regulations. They can then help you register your legal business name and a DBA or “doing business as” registration if you want to operate under a different name.

2. Prepare and File Formation Documents

Formation documents, such as Articles of Incorporation or Articles of Organization for an LLC, must be accurate and complete. Our lawyers will review these documents and ensure they are correctly drafted and filed to meet all state requirements, reducing your risk of rejection or delay. If you are considering trademarks, copyrights or patents to protect your business’s intellectual property, MPL Law Firm can assist in filing for these protections.

3. Obtain Licenses and Permits

Before opening your business, you will need all the necessary licenses and permits to operate in your location or industry. Our lawyers will help you determine which licenses and permit requirements you need. We can then walk you through the application process in compliance with all local, state and federal regulations.

4. Draft an Operating Agreement or Bylaws

For LLCs and corporations, well-drafted operating agreements or bylaws clearly define operation procedures, management roles and responsibilities. These agreements help prevent disputes among stakeholders and outline processes for decision-making. The lawyers at MPL Law can provide guidance on best practices to ensure these documents reflect your business’s unique needs.

5. Employment Matters

If you have employees, then employment contracts or agreements spell out the terms of the working relationship. Our business attorneys can help you draft clear and enforceable contracts that protect your business and ensure compliance. An MPL Law representative can also help you understand federal and state employment laws, including benefits and workplace regulations.

Our Business Formation Services Extend To Business Restructuring

Our business entity attorneys can assist existing companies in meeting their operational objectives. We can help create a special-purpose entity for certain transactions, like acquisitions. Or, if you’re looking to restructure, we ensure all legal and financial concerns are addressed.

Why Trust Us as Your Entity Choice and Business Formation Lawyers?

At MPL Law Firm, you are much more than just another case file. When you partner with our business formation attorneys, you are assured of personalized attention as we develop an effective legal solution tailored for you. 

With years of experience and a successful track record advising companies of all kinds, we understand the importance of thorough analysis. We do not rush headlong down any path. We take great care to provide guidance that is customized to the needs of each business we represent.

Forming a business is a collaborative process. Our professional team can help you overcome the most daunting legal challenges in business formation, building a solid foundation that sets your company up for future success. 

Ready to Launch? Contact MPL Law Firm for Experienced Guidance

If you need an attorney for LLC formation or guidance through the entity selection process, contact the professional business attorneys at MPL Law. Call us at 717-845-1524 or reach out to us online to schedule an initial consultation today.