Guiding You Through Forming a Business in Ohio
Turning your startup idea into a reality involves many legal issues and key decisions. Reliable guidance on such matters can help pave the way to a smooth start for your company. At Mallory Law Office, LLC, our Columbus-based attorneys assist entrepreneurs throughout Ohio with business formation and structuring agreements. We are a small firm that is proud to provide clients with big-firm-level legal support. Come to us for your startup legal needs.
Understanding the Formation Process
There are numerous steps for starting a new business, including:
- Crafting a business plan
- Choosing a business entity
- Meeting the legal requirements of forming your chosen entity
- Creating ownership agreements
- Addressing funding issues
- Acquiring all necessary permits and licenses
- Securing a location for your business
- Hiring employees
- Forming contracts related to ramping up operations
Our lawyers stand ready to help you with every part of the business formation process.
What Business Entity Types Are Available?
The business entity type you choose dictates the legal structure of your company. It has big impacts on your operations, tax exposure and personal liability. Common entity types include:
- Sole proprietorship: A simple structure for businesses with one owner
- General partnership: A basic entity type for businesses owned by multiple individuals, in which each partner has personal liability for the company’s actions
- Limited partnership: A partnership in which certain partners have a more limited role but also limited liability
- Limited liability company (LLC): This type offers owners a liability shield and a flexible management structure
- Corporation: This complex structure provides its owners (shareholders) with liability protection and has its own set of rules related to operations and taxes
We can assist you in determining what entity type is the right fit for your business, given your situation and goals.
Important Considerations When Structuring Ownership Agreements
Ownership agreements address key issues regarding how a business will operate. Common types include:
- Partnership agreements (for partnerships)
- Operating agreements (for LLCs)
- Shareholder agreements and corporate bylaws (for corporations)
Well-crafted ownership agreements can set a business up for a good start and help it address future challenges. Important things to consider when forming such agreements include:
- How key company decisions will be made
- How roles and responsibilities are divided
- How profits will be distributed
- How conflicts will be addressed
- What exit strategies will be put in place
Our attorneys can help you structure agreements for you that are comprehensive and tailored to your business’s needs.
Why Have a Corporate Law Attorney Help You Launch Your Business?
Trying to form a business without skilled legal support can lead to pitfalls such as compliance issues, tax complications and disputes among partners. A business law attorney can:
- Explain the process
- Answer your questions
- Guide you through every step
- Help you avoid mistakes
- Ensure your interests are protected
- Align your business’s structures and agreements with your goals
When starting your business, get the advantage of our team’s experience, knowledge and resources.
Contact Us Today for Dependable Business Formation Guidance
How things go at the beginning for your business can have big impacts on its chances for long-term success. Let us help you get your company started right. Schedule a consultation with us by calling 614-362-0107 or reaching out via our contact form.