Small Business Organization - Roth Law Group - Cook County Small Business Law Firm

Small Business Organizational Structure

At the Roth Law Group, we assist small or closely-held businesses with corporate structure and other business planning decisions. While the idea of forming a business is thrilling for most people, the process must be thoroughly planned in order to ensure that the ultimate goals of the enterprise are met. Accordingly, we assist our clients in establishing partnerships, corporations, Limited Liability Companies (LLCs) and Limited Liability Partnerships (LLPs).

However, before deciding on which business structure best suits their needs, we seek to give our clients sound advice regarding the relative advantages and disadvantages of different corporate forms. Accordingly, when deciding on which corporate structure best suits their needs, we primarily consider the following factors:

1. The need to limit liability of the owners

2. The size, scope, and type of business;

3. Startup costs, including licensing and other fees.

4. Existing capital and the need for outside investors;

5. State licensing and tax requirements;

6. The time commitment necessary to handle regulations and formalities;

The primary consideration of most business owners is the liability they may be subjected to for the debts of the business. Most business owners are aware that an incorporated entity provides shareholders with protection from corporate obligations. However, many business owners are unaware that other business structures, such as Limited Liability Companies and Limited Liability Partnerships offer similar protection while at the same time, providing greater flexibility in the control of the business. Often times, clients who want to solicit large outside capital investments but maintain control over day to day operations prefer these types of organizations. Consequently, the Roth Law Group helps its LLC and LLP clients draft operating agreements consistent with their expectations and desires.

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Business Formation Articles:

Organizational Structure

Taxation and Finance

Federal and State Licenses

Business Liability Insurance

Commercial Litigation

Contract Negotiation and Drafting

Contract Law Articles

Contract Law Introduction

Contract Offer and Acceptance

Contract Consideration

Contract Performance or Delivery

Contract Issues Affecting Validity

Contract Law Conclusion