Leesburg Business Formation Attorney
If you are considering starting a business, or better aligning your business to insulate it from hard times, Simms Showers LLP can provide insight and planning. Our goal is to provide you the greatest prognosis for a successful future for your business. Our services include shareholder agreements, buy sell agreements, operating agreements, corporate formation, LLC formation, partnership agreements and compliance with corporate law. Contact the Leesburg business formation attorneys at Simms Showers LLP for more information.
Choosing A Leesburg Business Formation Attorney
If you are starting a business, or hoping to assure the success of your business, would you not be comforted by having a firm who has specialized in detecting and resolving problems for the business in financial distress? Who would be better suited to understanding what it would take to avoid financial problems for a business, than a law firm who has spent much time addressing those problems?
Any lawyer can form a business. The questions you should seek when choosing a lawyer are:
- Does the lawyer understand the intricacies of and bring creative thinking to shareholder agreements, operating agreements, and proper corporate formality?
- Does the lawyer consider the measures necessary to protect the individual owners, directors and shareholders from liability arising from the business?
- Does the lawyer help instill in management an understanding of the necessary safeguards and danger signals to recognize, and address, financial problems?
Ask those questions before deciding on counsel to help you start, or protect the health of, your business.
We Specialize In All Types Of Business Entities
- Corporate formation
- LLC formation
- Management Agreements
- Operating Agreements
- Shareholder Agreements
- Partnership Agreements
- Owner Disputes
- Buy-Sell Agreements
Business Formation FAQs
What factors govern the type of entity I should use for my business?
The basic types of business ownership are partnerships, corporations or LLC’s, or sole proprietorships. If you are starting a business with little liability exposure and no clear revenues, it may make sense to start as a sole proprietorship. You can still register and use a “trade name” (also known as a “fictitious name”). Once the dollars start flowing, things change. There may be tax advantages to using one form of entity versus another. There are differing levels of exposure to the individual owners’ personal financial problems and this may govern the type of entity. Businesses with high potential internal liability may want to form various entities to operate the different divisions, thereby spreading the risk. Finally, there are differences in administrative burdens and costs depending on the entity. Simms Showers LLP will do all we can to understand your goals, your exposure, and your financial resources to help devise the proper structure for your business.
What must I do to maintain my corporate “shield”?
Many people form corporations or LLC’s to insulate themselves from personal exposure if things go wrong inside the business. If the entity has not observed and complied with all of the ongoing formalities required under law for that type of entity, that is the ammunition that creditors can use to break through the protective wall and to pursue the owners individually. And these obligations are ongoing. Simms Showers LLP offers monitors all of our clients’ periodic compliance and reporting to help assure that the entity is doing the job it was designed to do.
Contact A Leesburg Business Formation Attorney
With offices in Leesburg and Winchester, we are perfectly situated to represent clients throughout Northern Virginia, including Sterling and the surrounding areas of Loudoun County as well as Arlington County, Clarke County, Frederick County, Fairfax County and Prince William County. Let the Leesburg business formation lawyers at Simms Showers LLP help you today.