On behalf of Chandler and Brown, Ltd. posted in business planning on Thursday, November 9, 2017.
Many people in Saint Paul have a moment of brilliance, in which they come up with a great idea for a business. While they may be excited to make their dreams a reality, business planning should be done with care. After all, improper planning could lead to liability issues, unwanted tax consequences and expensive litigation.
There are a lot of aspects of business planning to consider. Potential business owners will want to make sure they understand applicable taxes. They will also want to make plans to protect their hard-earned assets and shield themselves from liability, as much as possible. It can also help to have a plan for passing your business on to others in the future should you decide to exit it.
At our law firm, we assist business owners who are just starting out as well as those with established businesses. We can assist a potential business owner in determining which business entity to choose, whether it is a corporation, a limited liability company or something else. We can also provide assistance in drafting restriction agreements. Also, businesses often need to either draft or revise a contract. When doing so, it is important to consult with an attorney to ensure the final document is legally sound. These are only a few of the many ways we assist business owners in the Twin Cities.
Starting a new business is exciting, but it should not be rushed into. Also, making sure an established business continues to run smoothly takes care and planning. To learn more about how an attorney can assist business owners in reaching their goals, feel free to visit our business planning website.