Careful Planning With a Minnesota Business Lawyer
If you have made the decision to start a business, it is important to know that a key element in the success of a business is careful planning from the very beginning. Mistakes that are made during the process of small business formation can lead to internal disputes, legal threats and other problems that can threaten the success and the life of that business.
At the law firm of Patrick Burns & Associates, our lawyers have a thorough comprehension of the important elements in business formation and have assisted many small businesses throughout Minneapolis, the Twin Cities and statewide Minnesota. We will sit down with you to understand your business goals and to help you find the protection you need in the formation process. We can also provide ongoing assistance as your business begins to grow.
Minneapolis Small Business Formation Attorneys
The first decision to make in the formation process is entity selection. There are many pros and cons of various business entities, including LLCs (limited liability companies), LLPs (limited liability partnerships), FLPs (family limited partnerships), S corporations and other options. There are many factors that go into choosing the best entity, including:
- Management structure and investor roles
- Anticipated size
- Revenue streams and tax liability
- Amount of personal liability
- Business exit strategy
Our firm can carefully draft or review your shareholder agreement, operating agreement or partnership agreement to ensure that both personal assets are protected and that the business is protected should disputes arise down the road. We strive to anticipate opportunities and challenges that lie ahead and plan for those potential issues through proper planning.
Learn more about our assistance in the business formation process and our business law counsel for small businesses in Minnesota. Call for an initial consultation at 952-232-5991 or toll free at 866-291-4854 to make an appointment.
