One of the biggest concerns for any business is protecting its principals as well as its assets—and keeping personal and business assets separate is paramount. Forming a legal entity is one of the best ways to create a separation of personal and business assets.
A limited liability company (“LLC”) is a type of corporate entity in the U.S. Compared to the traditional C-Corp, LLC’s are a relatively young legal entity. First started in 1977 in Wyoming, the LLC has, in many cases, surpassed the traditional Corporation as the go-to entity for small businesses. Benefits of an LLC include pass-through taxation, looser corporate structure, and generally easier to manage.
Early in their life cycles, startups are often strapped for cash, and you may think that you can take on the legal work yourself rather than hiring a lawyer for your start. An experienced startup attorney is a valuable asset to your business.
A C-Corp is the preferred entity for startups because it allows you to raise capital better than an LLC, has fewer restrictions than an S-Corp, provides you with tax benefits, and gives you personal liability protection.
Quality legal representation means that you can focus less on startup legal matters and more on the day-to-day running of your business. Call the Law Office of Elliott J. Brown today.