Business Formation Attorney

As premier business attorneys in the Denver area, we’re intimately familiar with the challenges that entrepreneurs face when they’re first getting started. We can help you establish a strong legal foundation so that nothing stands in your way. Contact us to get started.  Some people were born to be entrepreneurs—everything has been leading up to that moment when they can finally establish their own business. However, this is when some of them make a critical mistake. Rather than partnering with a business formation attorney, they decide to set up their business on their own. And because they’re not experts in business law, they end up making foundational mistakes that cost them for years to come. A word of advice: Don’t let that be you! Unless you have an intimate knowledge of business law, there’s a good chance you won’t understand all of the ramifications of your decisions. Before you’ve had time to grow your business into what it could be, you’ll be facing unforeseen tax consequences, liability issues and other setbacks. Luckily, this scenario is entirely avoidable. When you choose to hire a business formation attorney, you’re doing due diligence and seeing your dream to the finish line. You’re ensuring that your company gets started the right way and has a sustainable growth plan. Just as importantly, you’re giving yourself some much-needed peace of mind. Starting your own business can be exhilarating or it can also be a nightmare. One of the best ways to make sure you’re moving in the right direction is to consult one of the business formation specialists at The Hermele Law Firm. Keep reading to learn how our passionate attorneys can help you achieve your goals. At The Hermele Law Firm, we know there’s nothing more exciting than the birth of a new business! That’s why we offer every possible service to guarantee its success. Questions? Give us a call at (720) 740-0889 today.

Why Do I Need a Business Formation Lawyer?

Technically, you don’t need a business formation attorney to start your company. However, that’s kind of like saying you don’t need a doctor to deliver your baby or an architect to design your house. The bottom line is that the benefits of hiring a lawyer far outweigh any perceived cons. From helping you choose the right business model to drafting crucial legal documents, your lawyer will be there to ensure you’re legally protected.

Choosing The Correct Business Entity

There is no one-size-fits-all business model. The way you set up your business will depend on your specific goals and needs. We can help you establish any of the following business entities:

• Sole proprietorship, a style of individual entrepreneurship in which there is no legal distinction between the owner and entity.
• Partnership, a business model where partners agree to advance their mutual interests.
• Corporation, an organization that also exists as a singular entity and has a separate legal existence from its directors and shareholders.
• Limited liability company (LLC), a business structure that allows each owner to be a member who has the protections of a corporation, as well as the ability to pass business losses or profits to their personal income tax return.
• Limited liability partnerships (LLPs), a model that combines aspects of both partnerships and corporations, and in which business partners are not liable for each other’s misconduct or negligence. 
• S-corps, a corporation that chooses to pass income, losses, deductions and credits through their shareholders for tax purposes.
• C-corps, a legal entity in which owners are taxed separately from the entity.

Each type of business entity has advantages and disadvantages, depending on your goals. Although myriad factors will go into your choice, you can use the following three questions to point you in the right direction:

1. Who will own the business?
2. How will the business distribute profits to its owners?
3. Do I expect the business to generate losses or profits in the early stages?

Identifying the answers to these questions will help you determine the ideal management structure, tax considerations and personal liability protection.

Liability Reduction

Operating a brick-and-mortar business comes with more responsibilities—and risks—than you may realize. As the business owner, you are responsible for what happens on your property, and that includes incidents like slip-and-fall accidents, claims for defective products, actions of negligent employees and more. Any of these situations could result in a lawsuit that breaks you financially. Fortunately, a business formation attorney can help you avoid unnecessary risk.

Tax Considerations

If you’ve got a mind for business, you already know that there are legal ways to minimize your tax burden, and it’s often as easy as talking to a professional. Because each business model offers distinct tax advantages and disadvantages, consulting a business formation attorney can help you make the best decision for your specific situation.

Business Contracts

As a new entrepreneur, you’re going to be dealing with a lot of contracts. Whether they’re for space, services, supplies, partners, investors or employees, you’re going to need professionally drafted business contracts from the very beginning. As they’re already familiar with the legal ins-and-outs of your company and its structure, your business formation attorney will be able to tailor contracts around your individual needs.

Other Advantages

Business entities, liability, taxes and contracts aren’t the only areas in which it will benefit you to work with a lawyer from the get-go. A business attorney can also help you with registration, licensing and permits, and can help you figure out how to raise capital and make distributions in a fiscally responsible way.

The Hermele Law Firm: Top Business Formation Attorneys in Denver, Colorado

When you choose a business formation lawyer, you’re choosing someone to invest in your company’s growth, from infancy to maturity. They end up being more like a business partner than a contractor, so it’s important to make the right choice. At The Hermele Law Firm, nothing makes us happier than seeing local businesses grow and thrive. If you’re searching for a passionate, expert business lawyer, don’t waste your time Googling “business formation lawyer near me”—contact our firm instead. Ready to get started? Visit us online or give us a call at (720) 740-0889 to schedule an appointment.