Now that 2017 has arrived, many new companies will be launched throughout Florida, some with proper planning and others more haphazardly. If you plan on launching a new business soon, it is always a good idea to meet with a South Florida business formation attorney as soon as possible for advice on the best business structure to use, to draft any legal agreements that you may need for your operation, for assistance with legal filings and anything else you may need to get started.
Below are a few tips to help start your new business off with the greatest chance of success in 2017.
Make sure you properly format your Articles of Incorporation
If you choose a corporate structure for your business, then it is essential that your Articles of Incorporation (or Articles of Organization for LLCs) are filed with the proper format for the state of Florida.
Although it may be tempting, it is essential to avoid using any kind of premade document for your Articles of Incorporation. Doing so can result in your filing being rejected due to an improper format, irrelevant information or missing requirements. Hiring an experienced attorney to draft your Articles of Incorporation will guarantee that they are accepted the first time around, and the cost is lower than what you might think.
Determine the best business structure
Your choice of business structure will have massive ramifications on your taxes, personal liability, meeting requirements, business duration and a host of other issues. Because of this, you will almost always want to meet with a business formation lawyer in South Florida for advice on the best business structure for your venture. For example, although a sole proprietorship may seem like a simple option to start with, this structure puts the owner’s assets at major risk if the company is ever sued and is usually not a good idea.
Consider your unique liability concerns
Almost every business has some associated risk, and an experienced business attorney can help explain what your biggest risks are and how to mitigate against them to the highest possible degree. This may include adding sections to your company bylaws and Articles of Incorporation that indemnify the owner from certain future circumstances, purchasing the appropriate insurance, drafting contractor agreements that protect your business and much more.
Mark Schecter is a veteran South Florida business formation lawyer who can answer any questions you may have about starting your new business and assist you with your filings. Contact Schecter Law today for a consultation at (954)-779-7009.