The question of which form of business would be “best” for a client most often arises during the start-up phase. However, whether a business should be conducted as a proprietorship, a general partnership, a limited partnership, a limited liability company, or even perhaps as a non-profit or mutual benefit corporation, the question may arise at any phase of the company’s development especially at a time when ownership or control is in transition or when extraordinary transactions are being contemplated. Since there are advantages and disadvantages of every form in which business may be conducted, there is none that can be considered “best” for every circumstance.
Instead, we work closely with each of our clients to develop an optimal solution designed to meet their priorities and objectives while addressing the needs of as many constituents of the business as possible. The solution may be the creation of a single entity as a form of business, or multiple entities, or even simplifying a business structure by eliminating unnecessary or productive units.
Whether working with established businesses or ones that are newly created, we are able to provide services to ensure that the organization’s internal governance documents are current and in order, including bylaws, minutes of actions and meetings, operating agreements, partnership agreements, shareholder agreements, stock option plans, and employment handbooks, policies and procedures, and employment agreements.