Long Island Business Formation Lawyers Looking Out for Your Interests
Whether this is your first attempt at starting a new business or you already have several business entities, business formation is an exciting time. It can mean stepping out into a new career path and presenting your ideas and products to a new audience, but it also comes with a lot of logistical considerations, such as business debts, how to handle personal liability, and whether you want to work with a partner.
No matter what your unique situation is, a business formation attorney is a key part of starting any business entity and should be your first call when you are ready to move forward. We have seen firsthand some of the issues that can come up when your business formation isn’t handled correctly, and that’s why we strive to deliver excellent service to our clients.
If you are hoping to be a New York business owner, it’s a good idea to talk to a business formation attorney as soon as possible in the process. You can email or call MontanaroLaw P.C. to find out more about our services and how we can provide effective counsel through the business formation process.
How Do I Form a Business Entity?
To form a business entity in New York, there is a specific process to follow. The first step is to determine what type of entity you want to establish and what role you want to play as a business owner. If this is going to be a solo venture, a sole proprietorship may make the most sense. If you want to ensure that personal liability isn’t an issue when it comes to business dealings, a limited liability corporation may be an option.
Once you know what kind of entity you want to establish, all you have to do is take care of the necessary paperwork and file the business with the New York Secretary of State. The exact paperwork required may vary based on the type of entity, but common documents include:
- Articles of Organization
- A partnership agreement
- A business plan
- A business license
- Various permits
- Incorporation documents
What Role Does an Attorney Play in Helping to Form a Business?
A business formation attorney plays an important role when you are trying to form a business. They can provide counsel on whether a sole proprietorship, limited liability partnership, or other model is the best fit, and they can create and file all of the paperwork directly for you, so you know everything is done properly. They can also advise you on the pros and cons of each entity option, so you know why you are using a specific model and what to expect as your business continues to grow.
Do I Need a Lawyer to Form a Limited Liability Company?
If you want to start a limited liability company in New York to protect yourself from personal liability, you do not have to have an attorney. All that is required is that you file the limited liability company’s articles of organization with the New York Secretary of State and pay the corresponding fee. However, just because you can form an LLC without an attorney doesn’t mean you should. First, it is important to ensure that an LLC is a proper setup for the business you want to create. Second, everything has to be filled out properly and exactly according to the instructions to be valid. Third, you will probably find that you have a lot of questions and uncertainties along the way, and a business formation attorney can be an excellent resource to ensure that you understand everything you are doing and that it is the right choice for you.
What Are the Benefits of Using a Business Formation Attorney?
When you want to ensure that your business interests are kept as a separate legal entity, a business formation attorney can help you make sure that everything is created and filed correctly. However, a business formation attorney isn’t only valuable in terms of the paperwork they can take off your plate. They can also offer other benefits, such as creating thorough contracts that protect your interests, advising you on how to protect your intellectual property, and ensuring you are actually creating the business entity that meets your needs. Find out more details on each of these below.
Ensure Your Intellectual Property Is Protected
Often when you are looking at creating a new business, one of the most important parts is protecting your intellectual property. This could be content, business practices, models, technology, and patented items. Without the proper legal protections, you risk having your competitors steal your best ideas and present them as your own. A business formation attorney can help you protect your intellectual property from the beginning and help you litigate any infringements that may happen later on.
Get Counsel on the Right Business Model
Starting a business is a big step, and it is important that you choose the right business model for your needs. Depending on your vision, you may choose to set up:
- A corporation
- A partnership
- A sole proprietorship
- An S corporation
- An LLC
A knowledgeable business attorney can explain all of your options to you and help you select the one that fits your needs now and any anticipated growth needs in the future.
Be Sure Your Contracts Are Thorough
Contracts are the crux of all businesses, but they aren’t something that most people know how to do well. Having a New York business attorney go create your contracts from scratch or look over and adjust any existing ones can make it easier to spot potential loopholes others could take advantage of. They can also ensure that the contracts meet the requirements according to the New York state law and federal laws so that you can have peace of mind knowing they are correctly set up and enforceable.
Work With an Experienced Business Formation Lawyer
If you are ready to set up your business entity, you want a New York law firm that has the knowledge and experience to handle its creation. At MontanaroLaw P.C., we know how these businesses should look on paper and how to counsel you on the right option for your particular needs. We have helped clients from small sole proprietorships to large corporations, so we know what to look for and how to ensure that everything is done the first time correctly.
To find out more about our New York business formation services and what our attorney-client relationship looks like, call our office at (516) 809-7735 to talk to a member of our team. We serve clients in Massapequa, Long Island, New York City, and the surrounding counties.