02. Business Law
Establishing a new business venture presents a great number of risks. There is no guarantee of return on investment. The best that any entrepreneur can do is to take advantage of all available means of reducing the risks that threaten the business.
One of the key means of reducing those risks is choosing the proper legal structure for your business. Doing so can create tax advantages and shield an owner from personal liability for the business.
The structures you can choose for your small business include:
Sole proprietorship — The simplest form of business ownership. You and your business are treated as one entity.
Partnership — Ownership involving two or more partners, similar to a sole proprietorship.
Incorporation — Creates a legal entity separate from yourself. Offers protection for your personal assets from liability incurred by the business.
Limited liability company (LLC) — Similar to a corporation in the protection from personal liability.
Contact Us Today
At The Craddock Law Firm, LLC, we are committed to helping entrepreneurs get their new businesses off the ground. We understand the value that can be added by starting a business in the legal format that best suits your goals for the business. Attorney MyEsha Craddock spent a decade in the business world as an accountant before beginning her law career. She understands the realities of the business world and what it takes to succeed.