Business Formation and Governance
Our firm represents business clients ranging from start-ups to long-established businesses.
We explain to clients the various legal business forms available, which in Colorado include:
- Sole Proprietorships,
- Corporations (including those taxed as “C-corporations” and “S-corporations”),
- Partnerships (including General Partnerships, Limited Partnerships, Limited Liability Partnerships, and Limited Liability Limited Partnerships),
- Limited Liability companies, and
- Professional corporations.
What is the best legal form for your new business?
When we meet with you, we’ll ask you questions about matters such as who will be involved in the ownership of the business, your likely revenues for the first few years, your need or plans for raising capital, and how many employees you are likely to have for the near future. Once we learn about these and similar matters, we can advise you as to the advantages of the different legal forms of business organization based upon your business.
Business Ownership and Continuity Planning
At the outset of the new company, it is often extremely valuable to discuss potential issues that could arise during a company’s life, such as:
- What should happen if one owner desires to sell his or her interest in the company — should the other owners have a right to purchase this interest?
- What happens if an owner dies unexpectedly? Should the company purchase the deceased owner’s interest, and if so, what should the terms of the purchase be, and how can a company secure insurance to make sure that such funds are available?
- What happens if there is a significant deadlock between owners concerning the ongoing management of the company which cannot be resolved?
These and many related issues are best addressed at the outset of a new company. Then, if these issues arise, there will already be in place an agreement that specifically addresses how these matters will be resolved.
These agreements are often referred to as “shareholder agreements” or “buy-sell agreements.” With new companies, we provide advice concerning these issues, and we prepare agreements concerning how such matters will be handled based on the desires of our clients.
We Provide the Targeted Business Advice You Need, When You Need It
Whether you are starting a new business or are an executive of a long-established company, we are here to provide advice and legal representation when needed. We would welcome the opportunity to meet with you and learn about your business. Please feel free to call us so that we can schedule a time to meet that is convenient with your schedule.