Corporate Formation and Corporate Governance
Corporate formation refers to the creation of a business entity for the purpose of operating a new business enterprise. There are many reasons why a person or persons starting a new business venture would choose to create a separate entity through which to operate the business. The most important factors that determine the type of entity that will be formed to operate a business include limiting liability to individuals, minimizing taxes, and providing flexibility for raising funds from investors. Every new business is unique and must assign its own weight to these various considerations to determine the best corporate structure to adopt. The most common types of entities formed for purpose of starting a new business are general partnerships, limited partnerships, limited liability companies, S-corporations and C-corporations. In addition to choosing the type of entity that will best suit a new business, the persons forming the business must also consider whether to form the entity under the laws of the state in which they will operate, or under the laws of a different state, such as Delaware or Nevada, for example.
The corporate attorneys at Older, Lundy & Alvarez provide legal expertise to help determine the best corporate structure for your new business, taking all of the relevant factors into consideration, specifically tailored for your business. In addition to helping you choose the corporate structure and jurisdiction best suited for your business, the corporate attorneys at Older, Lundy & Alvarez will prepare all of the documents necessary to ensure that the new entity is properly formed and is in compliance with the laws of the state of formation.
The proper legal formation of a business entity is only the beginning of a new entity’s journey. In order to maintain the privileges and advantages that are often associated with the various types of entitles—partnerships, corporations, limited liability companies, etc.—a business entity must conduct its business consistent with the laws under which it was formed. Depending on the type of entity, this may mean the creation of corporate bylaws and/or operating agreements, the election of a board of directors, the issuance of stock or membership interests, the facilitation of annual meetings of managers, directors, members, and/or shareholders, and the following of various other corporate formalities necessary to maintain the privileges and advantages that come with these forms of corporate structure. The corporate attorneys at Older, Lundy & Alvarez are committed to guiding your business through these requirements, and helping to ensure that the decisions made by your business are legally recognized and legally effective.
There are a myriad of other corporate governance issues that may arise during the life of a corporate entity, including issues voting corporate stock, disagreements and deadlock among the managers or directors of an entity, and issues concerning the fiduciary obligations of managers, directors, officers and directors. The corporate attorneys at Older, Lundy & Alvarez have the legal and business acumen necessary to help a business entity to navigate these sometimes-complicated issues.
No matter what the issue, the corporate attorneys at Older Lundy & Alvarez are available to meet your needs with integrity, diligence and attention to detail. Just as every business is unique, every case and every client has their own unique needs. Let us help you solve your problems or reach your goals regarding your corporate formation and corporate governance issues. Call 813-254-8998 to schedule your consultation today.