Business owners deal with many different issues, such as raising the initial capital to start the company, hiring and managing employees, and negotiating contracts. Many of the legal aspects of running a business can be difficult to navigate without a skilled professional.
At Sparks Law, an Alpharetta business lawyer can help you preserve and grow your company by drafting important contracts, ensuring the company is compliant with local laws, and advising you on how to handle certain transactions. Wherever you are in the process of running your company, you should hire a skilled corporate law attorney today.
There are several types of legal entities you can choose from when you’re forming your business, each with distinct tax benefits and levels of personal liability protection. The different types of legal entities you can choose for your business are:
If you’re just starting out, you should talk to an experienced lawyer before making any decisions on what type of legal entity your business should be. At Sparks Law, we work with many business owners who have a variety of different legal structures for their companies.
Limited Liability Companies are more flexible than Corporations, as owners can choose between a pass-through tax structure or a traditional corporate tax structure. On the other hand, it can be easier to raise capital with a Corporation because owners can designate how much stock to issue, unlike an LLC, in which memberships are limited.
A corporation is owned by its shareholders and governed by a Board of Directors and officers. This structure offers supervision of those running the company day to day. Recordkeeping is more stringent than with an LLC, and the Securities and Exchange Commission (SEC) strictly governs any private placement agreement to sell stock as a tool to raise capital. As you can see, there are many factors to consider when choosing between an LLC, Corporation, or any other entity, so discuss your options with an attorney in Alpharetta right away.
Certain legal entities, like sole proprietorships and general partnerships, aren’t required to file any paperwork, but there are still important steps you need to take before you start operating your organization.
You’ll need to choose a trade name and register it with the Clerk of Superior Court in Fulton County. To avoid any infringement disputes, you should check all your prospective brand names on the Georgia Secretary of State website to make sure a name isn’t already in use.
Any good business owner needs employees to help them make a profit. To protect yourself and your workers’ rights, you need to draft solid employment contracts. If you’re in business with another person, you should also adopt a partnership agreement to protect each of your interests and define everyone’s rights and responsibilities within the company.
If you’re operating your business in Alpharetta, you’ll probably need some type of license or permit. Depending on what industry you’re in, you might be able to get these documents issued by the Georgia Secretary of State Licensing Board.
Additionally, most business are required to secure an Employment Identification Number (EIN) from the Internal Revenue Service (IRS) for tax purposes. Even if you don’t plan on hiring employees, most banks require business owners to provide this number when opening accounts. Handling all of this can seem overwhelming, which is why you should retain a qualified attorney to help you manage the legal aspects of staring your company.
Once your business is up and running, we recommend that you hire in-house counsel to handle the numerous legal issues that will come up on a daily basis. Our firm offers premium services such as business litigation and trust and estate management. We also handle legal situations involving:
Our legal team can help you find a solution to any legal issues and disputes concerning your company.
Whether you are in the planning stages before opening a business and need some guidance or you are operational and have questions about employment law compliance, we are here to address your legal needs.
Our Alpharetta business lawyers are available to map a comprehensive course for your business or provide the contract you may need to seal a deal. Call today for your initial consultation.