Professionals may also consider professional corporations (PC), professional associations (PA), or professional limited liability companies (PLLC).
Generally, clients want to minimize their potential personal liability and tax effects; however, depending on the business contemplated, the needs and desires of the parties and the types of parties involved, one form of business entity may be more desirable than another form. Additionally, if there are multiple business owners, then ownership issues and transferability of ownership interests in the business entity should be considered, along with non-competition and confidentiality issues.
For a free choice of entity selection chart, please click here.
Tri Nguyen Law Office PC counsels and educates our clients as to the benefits and drawbacks of each form of entity and helps them determine which entity is most suitable and beneficial. Once the client decides on the proper entity form, we then draft the formation and governance documents (such as bylaws, limited partnership agreements, limited liability company agreements, etc.) tailored to the contemplated entity form, transaction, business or venture. We also assist our clients in obtaining the proper license and permit to operate their business or venture in the desired geographic area. It is also vital to maintain the existence of such business entity and to follow the proper formalities so as to enjoy the benefits that such business entity provides. Thus, we also prepare minutes and resolutions and attend meetings to help maintain these formalities.
Please contact Tri Nguyen Law Office PC to discuss your start-up business and the business entity that best meets your needs.
