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Business Formation

The vehicle for your commercial venture is as important as the ideas, people and capital behind it. Failure to plan carefully in starting or reorganizing a business almost inevitably leads to unnecessary internal disputes and external legal threats that can sap profits or bring the whole enterprise crashing down.

The business law attorneys of Burns & Hansen, P.A., provide astute counsel for entity selection and the myriad other considerations of business formation. Based in Minneapolis, we provide startup and ongoing consulting to small and midsize businesses throughout Minneapolis and Hennepin County, the Metro area and statewide Minnesota.

Building A Solid Foundation For Success

Our lawyers sit down with organizers to determine the best choice of entity for a new business or work to restructure an existing business or partnership. We walk clients through the pros and cons of business organization as an LLC (limited liability company), S-corporation, LLP (limited liability partnership), FLP (family limited partnership) or other option.

Selecting the best entity depends on management structure and investor roles, anticipated size, revenue streams and tax treatment, tolerance for personal liability, succession or exit strategy, and many other factors. We typically involve your accountant in business organization discussions.

We carefully draft or review the shareholder agreement, operating agreement, partnership agreement or buy-sell agreement. It is important for all owners/partners and voting investors to be on the same page at startup, and critical to protect your personal assets and the business itself should disputes arise down the road.

Strategic Business Planning For What Lies Ahead

In business organization, our legal team strives for a stable structure that is flexible for the opportunities and challenges ahead. We work closely with you to plan for likely events and the unforeseeable: a partner who wants out, a sudden death or divorce, bringing on new partners, acquiring another business, cashing in your stake or transferring control to the next generation. More importantly, we seek to minimize your risk as well as to protect your legal interests.

We also provide ongoing business law counsel for every facet of operations: contracts and leases, transactions, employee matters, intellectual property rights and legal disputes.

At Burns & Hansen, P.A., you have direct access to senior attorneys who understand the business side and the legal issues of business organization. Call 952-219-7897 or contact us online for a free initial discussion.