Business entities are the legal foundation for growth. They ensure that knowledge-based business owners can protect their personal assets, attract larger clients, expand to multiple partners, or sell the business when they’re ready to move on.
But many business professionals don’t realize that entities are not a one-and-done matter. Like a good garden, they require regular care and attention. All corporations and limited liability companies are required by law to hold annual meetings, maintain minutes, and record key business decisions. It’s also key that your legal documents don’t conflict with one another.
This isn’t only a legal requirement – it’s good business practice. Good housekeeping increases your chances of getting financing, attaining M/WBE certification, keeping your liability shield intact, growing thoughtfully, and attracting buyers.
A Path to Progress
In a rush to get off the ground, the owner of a NY consulting company formed a Delaware LLC with an online service. A year later she came to us, overwhelmed with the entity details yet brimming with expansion plans. Turns out the online service didn’t know the quirks of forming in New York. The penny-wise decision to file online was a pound-foolish mistake, costing her thousands of dollars more in additional expenses than she anticipated
So we helped her get in compliance. Cleaned up her entity records. Established systems for good legal hygiene. This allowed her to get WBE certification, which primed her for growth opportunities and business partners.
What We Do
With more than 25 years of experience in small business law, we know the documentation and business structures required to succeed and grow. We guide our clients through issues with the legal form of business they’ve chosen – whether a company has one or multiple owners. And we “play nicely” with your other advisors so you have a holistic, well-rounded perspective for your future business success.