"[G]et the ball rolling."
That is the advice rendered in a recent business formation-related article authored by the national publication Accounting Today to entrepreneurs and partners who are thinking hard about the optimal legal structure to effect for their businesses.
Dwelling on that consideration is logical for business principals, of course, since business form can be centrally important when it comes to key matters like taxation, the division of profits, liability, credit and financing and many additional concerns.
The above-cited publication sets forth a scenario in which a small business that was created relatively recently and is currently a sole proprietorship or general partnership might now have growing pains and attendant concerns -- as well as potentially attractive opportunities -- that need to be addressed.
For many such entities, changing circumstances and new realities make it necessary for owners to closely consider establishing a new type of business form. Accounting Today logically stresses the reasons why a business might reasonably want to incorporate or form a limited-liability company.
Truly, there are many, which can be candidly and fully discussed with a proven business and commercial law attorney well versed in representing diverse clientele in formation matters and other concerns material to business organizations.
As noted above, lawfully shielding principals from liability is a key benefit that flows from select business forms. As Accounting Today notes, a corporation or LCC that is properly formed can "put a wall … between the owner and the business" that protects business owners' personal assets from creditors.
And both corporations and LLCs confer certain tax advantages that are unavailable with other business forms.
Myriad other advantages can also result from incorporating or forming an LLC, with there additionally being a number of key differences between these business types.
An experienced commercial attorney can provide further information and close assistance geared toward optimally promoting the interests of business clients.