Whether you are looking to start your own business or would like your existing business to get a fresh start, the decisions that you make in the early stages will shape your company’s success. At Winder & Counsel, our attorneys have helped numerous businesses go from concept to reality with great success.
Most people only see the front end of a company, which is merely a fraction of the complex mechanics behind a business. Behind each company, from family-owned start-ups to global mega-corporations, is a calculated strategy based on structure, internal and external agreements, and assets. There is no cookie-cutter method to creating a successful business; each one takes considerable planning and execution.
Business Formation: Starting Your Business From Scratch or Restructuring
Whether you are starting your first business or looking to launch your existing business into a larger arena, the decision you make now will decide the fate of your new venture. Much of what will determine the internal structure and operation of your company is the type of business entity that you choose.
Limited Liability Companies and Partnerships
Limited Liability Companies and partnerships are the simplest way of joining two or more parties who are looking to do business together for profit. With relative ease, our firm can assist you and your “partners” in starting your business, determining liability, and creating the agreement.
The agreement will act as the cornerstone of your business, determining each of the following critical aspects of your business:
- The distribution of profits and losses
- Internal structure
- Each “partners” expected contribution to the company
The creation of your agreement will not only help your business begin with clear, firm operating guidelines, but it will also help you prevent future internal disputes as your company matures.
Corporations can be made up of one person or many, but the advantages of incorporating appeal to many businesses in Utah. A corporation can protect a company from litigation and financial problems, and can also create a way for a business to continue on indefinitely, long after the initial company founders are gone.
Bylaws and articles of incorporations will need to be drawn up to determine:
- Managerial structure
- Operation of the corporation
- Financial details
The structure and agreements outlined in the bylaws will determine how the corporation will operate for many years to come, and it is important that these documents are created with every detail in mind. Too many corporations have experienced problems as a result of poorly designed bylaws.
Commit Your Business to a Successful Future With Corporation, Limited Liability, and Partnership Law Firm
When you are ready to take the next step forward with your business, the corporation, limited liability company, and partnership law attorneys at Winder & Counsel can help. Our firm has helped several businesses achieve a successful start in, and enjoy stable operation from the beginning.
Whether you are an eager new entrepreneur or an established business looking to become something more, call Winder & Counsel today at 801-322-2222 to discuss your exciting options with our attorneys.