Starting your own business can be a rewarding and lucrative venture. However, turning a good business idea into a successful operation can be a complicated matter. You should never risk making mistakes that can threaten the success of a valuable startup idea. Instead, discuss your options and seek counsel from the startup and business formation lawyers at Randick O’Dea & Tooliatos, LLP.
Choosing the Right Entity
Anyone can start doing business as a sole proprietor or general partnership without taking any formal steps with the California Secretary of State. However, doing so can open you up to personal liability for business debts and may not be right for the type of funding that’s best for your new company. It is often beneficial to consider which business entity is truly right for you, and our attorneys can evaluate your situation and provide advice.
Two common entities that we regularly form for startup owners include:
- Limited liability Company (LLC) – When properly formed and maintained, an LLC can provide liability protections while still giving you the tax benefits of a sole proprietorship or partnership. An LLC also has fewer requirements than a corporation.
- Corporation – Incorporating can allow you to raise funds by selling shares and can provide strong liability protections. Corporate formation requires extensive paperwork and maintenance, however, and it is important to have the assistance of a knowledgeable attorney.
In addition to entity choice and formation, our team can help with many other legal considerations of startup owners.
Consult with Our Pleasanton Business Lawyers Today
If you’re considering a new business venture, do not hesitate to contact the law office of Randick O’Dea & Tooliatos, LLP. We regularly help business owners succeed in and around Alameda County, so please call 925.460.3700 or contact us online for more information.