Law Office of Philip P. Crowley LLC
Schedule a complimentary consultation:
908-336-0795

Entrepreneurs: Choosing a legal structure for a business

Starting a business can be an exciting endeavor, but it can also be a complex process. Entrepreneurs in New York that are seeking to form a new company may need to consider a variety of factors when choosing a legal structure for their business. Since this can be a major decision, a prospective business owner may find it advisable to speak with an attorney for guidance in covering every aspect of business formation.

When it comes to choosing a legal structure for a business, entrepreneurs have several options to choose from, each of which may come with its own potential advantages and disadvantages. One option is a sole proprietorship, which is most common among individuals who wish to start and run a small business on their own. When two or more parties wish to enter a business relationship, a partnership could be the correct structure to pursue.

However, a partnership isn't the only option available for multiple parties, as these parties could also choose to act as members by forming a limited liability company. Entrepreneurs also have the option of choosing to form a corporation. This option is most common for larger and more complex business entities that will take on numerous employees or will consist of multiple shareholders.

Entrepreneurs generally place a high priority on ensuring they cover every crucial aspect upon forming a new business. However, with a variety of aspects to consider, a similar process can be stressful and intimidating. Fortunately, there are attorneys who can provide a person in New York with some much-needed guidance on choosing the correct legal structure for his or her company.

No Comments

Leave a comment
Comment Information
EMAIL US FOR A RESPONSE

Get a complimentary consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Morristown Office
89 Headquarters Plaza
North Tower #1461
Morristown, NJ 07960

Phone: 908-336-0795
Fax: 908-325-0217
Morristown Law Office Map

New York Office
830 Third Avenue
Fifth Floor
New York, NY 10022

Phone: 908-336-0795
Fax: 908-325-0217
Map & Directions