A business has many legal obligations whether they recognize it or not. From the time that a business is started legal obligations arise and continue unitl the business ceases and beyond. A small sample of the these types of legal obligations would include:
Corporations are especially obligated as they are created by the law. A corporation must file articles of incorporation with the state in order of the corporation to come into existence as a legal person. The corporation must file tax returns and is required to have an annual shareholders meeting of some form. The corporation needs to maintain minutes of the meetings of the shareholders and of the board of directors and its committees. As a corporation is a legal person but is incapable of taking actions on its own right it must empower individuals to act on its behalf. Ownership records of the shareholders interests in the corporation need to be maintained.
Limited liability companies as with corporations are created by the filing of articles and desirably by the creation and signing of an operating agreement by all of the members of the limited liability company. It too is required to file tax returns and provide for indiviuals to carry out the actions of the company. It also needs to keep minutes of the meetings of the members and its managers. Ownership records of the limited liability company members and their respective membership interests need to be maintained.
Depending on the type of partnership being created their is less of a legal obligation imposed on the creation of a partnership than on either a corporation or a limited liability company. A general partnership may be formed by two or more individuals without the need to file any documents while a limited partnership or a limited liability limited partnership does require filing of documents similarly to a corporation or a limited liability company. Even in the case of a general partnership the creation and execution of a partnership agreement will prove to be a good idea in order to provide for the smooth operation of the business operations, provide for proper distribution of income, provide for the buy-out of partners, provide for the orderly liquidation of the business if needed as weill as many other concerns.
Services offered to businesses include:
- Starting a new business
- Buying, Selling or Merging a Business
- Vendor Contracts
- Employment Contracts