HOW TO START AN LLC
Feb. 25, 2015
Do I Need an Attorney to Start My LLC?
Starting your own business is an exciting endeavor; however, there are many pitfalls along the way that you will want to be sure to avoid. While there are many tools online to help you get started, there is still a great deal of entrepreneurial risks that a short-cut “do-it-yourself” corporate registration kit will not be able to solve.
Benefits of an Attorney
To ensure that you have the proper tools to starting a successful business, consider speaking with a knowledgeable attorney. Because starting a register LLC requires a lot of work and numerous legal details, an attorney who is experienced with this process will be able to help effectively and efficiently assist you. Planning against future problems through partnerships, shareholder agreements or other transactions, is a benefit that an attorney will discuss with you.
To create a your own business entity that protects your from liability under the state law, the most popular option is a LLC, or limited liability company. Because of its flexibility as a hybrid legal structure, it is one of the most popular options.
There are several steps to follow when you decide to start your LLC. Each state will vary; however, a few of the common principles are listed below.
Picking a Name for Your LLC
When you are ready to become a registrar LLC, you will need to choose a name that is not the same as another LLC or that contains certain prohibited words.
When you find the business name that works, you will need to register the name.
Submit the Articles of Organization
This will include the information about your business that is required by most states, no matter the size of your business. It is filed with Secretary of State’s office. Once approved, it allows for your LLC to become a legally registered business. This article will include your LLC’s address and name, the type of business, name of managers and members of the LLC and the name and address of the registered agent. To ensure that your articles of organization are written effectively, speaking with an experience attorney will be beneficial.
While this step may not be required in many states, it is one to consider, especially for a multi-member LLC. To ensure smooth operation with the structure of finances and organization, this agreement will help clarify and establish those operations. It will also allocate profits and losses, member’s rights and responsibilities and more.
Acquire Permits and Licenses
After your business is registered, this is one of the last steps. You will be required to obtain licenses and permits, which may vary from different states or the industry.
What Happens Next?
When your business is established and up and running, there are several operations that may need the attention of an attorney.
An attorney can also help with:
Employment contracts and personnel policies
Sale, merger or purchase of a business
Regulatory licensing issues
And much more
To ensure that you follow through each step and avoid any legal issues or complications, consulting with an attorney is very beneficial.