Construction Law Is All We Do
Call now: 949-751-6389
We are good at what we do, because Construction Law is All We Do
View Our Practice Areas

Things to decide before starting a new business

People who are getting started in the construction industry or want to explore the option of changing their existing business structure might want to start with the basics. The different advantages and disadvantages of the common types of corporations, limited liability companies, partnerships and sole proprietorships are many, and deciding which business structure suits the company's needs is an immensely complex question.

People need to consider how much time and how many resources they want to put into creating and staying on top of the demands of their respective business structure. There are also tax advantages and disadvantages that need to be considered in order for a business startup to optimize their financial success.

Any person can go online and complete and file their own business formation documents, but people who aren't experienced with California business formation and the laws and regulations this subject entails should be careful not to make mistakes before their entrepreneurial dream even begins.

New businesses with a simple structure and few investors or partners might benefit from an equally simple business structure. While it may not be the best choice for potential long-term growth, a limited liability partnership or company may suit the needs of most startup companies who want to preserve their own personal assets from liability.

Startups with multiple employees and multiple investors will probably want to take a look at incorporating. Creating articles of incorporation can be done hastily, but rushing through this step could severely handicap the corporation down the road. Articles of incorporation become and remain an integral part of the business' framework, including granting of various powers, voting rights and the issuance of stock.

New business owners and others considering a change should contact an experienced California construction attorney for more information.

Source: California Secretary of State, "FAQ," accessed May 11, 2015

No Comments

Leave a comment
Comment Information
Email Us For A Response

Tell Us How We Can Help You

Bold labels are required.

Email us to request more information or schedule an appointment.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Firm Location:

19900 MacArthur Blvd., Suite 1150
Irvine, CA 92612

Phone: 949-751-6389
Fax: 949-271-4861
Irvine Office Location

Firm Numbers: