Steps to Form a Business Entity

When you start a business, there are a number of steps that you must take to form the necessary legal architecture. It is always better to seek the help of an experienced business law attorney to ensure that they are done correctly.

First, you would need to select a name for your business. Preferably, it should be your own distinct name because you could potentially encroach on someone else’s intellectual property rights. You would need to make a DBA filing to ensure that someone else does not operate under your name.

One of the most important things is selecting the actual business entity. The business form that you choose should match your own needs. For example, you may want to protect yourself from liability and give yourself enough flexibility to run your business. Then, you would choose a limited liability corporation. If you want to share equally in the profits and losses, you would consider a partnership.

A business needs to be registered with the Internal Revenue Service, and you must obtain a taxpayer identification number. Then, you would need to fill out the necessary paperwork and draft the appropriate documents. Depending on the type of business, you may need articles of incorporation and bylaws. If you opt for an LLC, you must have an operating agreement that states how the business is to be run and the roles and responsibilities of each member. If you have shareholders, you would need an agreement that gives them certain rights.

The amount of work that you do can help your business get off to a stronger start and make it easier to raise capital.

Contact a Boca Raton Business Law Attorney Today

The attorneys at Rubino Findley can guide you through the business formation process. You can schedule an appointment to speak with a lawyer by calling us at 561.220.8464 or messaging us online.