Bonahoom & Bobilya has significant experience in creating and organizing partnerships, corporations, and LLC’s uniquely designed to fit the individual needs of each client and their business.
The vast majority of businesses in the U.S. are small to medium-sized companies. Whenever one or more individuals start or restructure a business, they must evaluate the type of entity to select, the tax ramifications with respect to that entity, the estate planning and business succession planning consequences for the owners, personal liability concerns, and the consequences of their selection on the day to day management of the business. While often times people believe they can properly organize their own entity, failure to understand the ramifications of entity selection is critical in the life cycle of the business and its ultimate success.
Simply creating an entity is one step in the process of properly organizing the corporate governance of your company. If the entity is owned by multiple people or other entities, operating agreements, by-laws, shareholder agreements, and buy/sell agreements must also be considered, negotiated, and implemented.
At Bonahoom & Bobilya, we understand the differences, the pros and cons, and the pitfalls of proper entity selection and organization. We also routinely prepare the related agreements needed to govern the relationships between the owners.