Business Formation Attorney Columbus, Ohio

Forming a business can be exciting but also stressful and time-consuming. You may be an expert in your field or industry, but business law and how to form a business may be completely foreign concepts. Rest assured, you’re not alone. Our Columbus business formation attorneys have helped countless individuals, entrepreneurs, and companies launch new businesses locally, regionally, nationally, and internationally. We have assisted in forming limited liability companies (LLCs), corporations, and non-profit corporations in Ohio and across the United States.

Why you should form a business entity

If you’re researching how to form a business, you probably have come across the sole proprietorship or seen the option for a doing business as or DBA filing. Clients new to business law often ask why they need an LLC or corporation if they are the sole owner of the company or if their business is not very complex. There are a number of benefits to forming a legal business entity, including minimization of liability and reducing your exposure to risk. In the eyes of the law, a limited liability company or a corporation is an actual person. An LLC or a corporation can sign contracts, own assets, including real estate, and sue and be sued in court. Most importantly, owners of an LLC or corporation are generally not personally liable for the debts of the company. Thus, except in limited circumstances, someone suing your LLC or corporation can only go after the assets of the business entity, rather than the personal assets of its owners.

If a business owner does not form a legal entity the result could be disastrous for the individual. Being a sole proprietorship or only having a DBA name does not provide personal liability protection. Meaning, the individual running the business is personally responsible for debts of the business and can be sued for business issues. Personal assets such as your personal bank accounts, your house, and your car could be exposed to liability and could be used to satisfy debts or judgments against you.

Choosing the entity that is best for you

Working with a Columbus business formation lawyer at our firm means that we will take the time to get to know you and your business. We want to fully understand your goals for your business, what your business will offer, where you see your business going, and what challenges we can help you overcome. Once we understand your company, we can best advise you as to which legal entity will offer the most advantages and be the best fit.

Forming a limited liability company

Setting up a limited lability company can be as simple or complex depending on the needs of the client. Our lawyers can quickly put together the basic documents you need to form an LLC – the articles of organization, an EIN, and an operating agreement.

If you are forming a partnership and need a multiple member LLC, our Columbus business attorneys can also walk you through the major structuring concerns associated with having a more complex LLC. This includes assessing how to structure member, manager, and officer powers and authority, specifying how the members will make decisions, whether the LLC needs a board of managers, whether the LLC will make distributions to the members, and how the LLC will approve being sold, acquired, or dissolved.

Forming a corporation

Forming a corporation can involve more steps and paperwork but can often be the preferred business entity for certain companies. With a corporation, our lawyers will walk your through key structuring concerns including issuing and valuing stock, defining shareholder actions and power, structuring the corporation’s board of directors, and drafting the necessary corporate records and documents such as the articles of incorporation, bylaws or code of regulations, and all necessary written actions by the directors and shareholders.

Choosing the right business entity and properly structuring your company can be challenging. Contact our Columbus, Ohio business formation lawyers today to see how we can help you.


latest thinking at stevens randol

See All News >>