Starting one's own business can be very rewarding, personally and financially. Whether your business will be a partnership, sole proprietorship, corporation, a limited partnership, or a limited liability corporation (LLC) depends upon many factors such as the nature of the business, the number of individuals who will have ownership, how profit and liability will be shared and tax considerations. Too much deliberation on the legalities of business formation can derail your initiative. Understanding the details of business formation is the job of legal counsel. We can advise you about the benefits and drawbacks of the various types of formations and how to best achieve your goal.

Businesses often need to lease space. Commercial leases can be fraught with traps for the unwary. No commercial lease should be entered into without review by counsel. Escalator clauses, pass through costs, common area charges, rights of mortgagees, rights of termination, personal guarantees, conditions of subletting, obligations for repair, obligations to pay rent if the property is damaged or destroyed, obligations for insuring are examples of subject areas that can make the difference between business success and personal bankruptcy.

Employment agreements, service contracts, and collection of invoices are all matters that businesses, large and small, contend with. The law of the Uniform Commercial Code will often apply to commercial transactions. The law views claims between commercial entities differently than claims by or against consumers and other non-commercial entities. Success in any endeavor can depend on knowing what law applies to particular transactions. Business planning requires knowledge about the business's liability and potential liability for the owners. Success in collecting money owed to your business and whether you are entitled to interest or the cost of collection on overdue accounts depends on factors that you can control. All businesses, at some point, end up dealing with customers or clients filing bankruptcy or seeking other protections from creditors. Acting fast and appropriately can sometimes make the difference between collecting debts and writing them off. We have handled thousands of collection matters and know how to maximize your recovery.
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This information should not be considered legal advice and is not intended as a substitute for consultation with an attorney