Choosing the right business structure is a critical decision that can have significant legal and financial implications.
At Atkinson Crehan Law, we provide expert advice and guidance to help you select the most appropriate structure for your business needs. Whether you’re starting a new business or expanding an existing one, our experienced legal team is here to assist you every step of the way.
Understanding Different Business Structures
There are a variety of business structures to choose from, each with its own advantages and disadvantages. Our team can discuss and explain simply the distinctions between different structures, including:
Partnerships: Ideal for businesses with multiple owners, partnerships allow shared responsibility and profits. However, partners are also jointly liable for debts and obligations.
Companies: Incorporating as a company provides limited liability protection, meaning your personal assets are safeguarded. This structure can also offer tax benefits and easier access to capital.
Trusts: Trusts can be used to protect assets and provide flexibility in managing and distributing income. They are often used for estate planning and managing family businesses.
Sole Proprietorships: The simplest and most straightforward structure, sole proprietorships are ideal for single-owner businesses. However, the owner is personally liable for all business debts and obligations.
Customised Legal Advice
Selecting the right business structure is not a one-size-fits-all decision. We take the time to understand your business goals, financial situation, and risk tolerance to provide customized legal advice. Our goal is to ensure you have the correct and appropriate structure in place, preferably before you establish or expand your business.
Formation and Compliance
Once you’ve chosen the right business structure, we assist with all aspects of formation and compliance. This includes preparing and filing necessary documents, drafting agreements, and ensuring adherence to legal requirements. Our comprehensive services ensure your business is set up correctly from the start, reducing the risk of future legal issues.
Resolving Disputes
Disputes can arise in any business, particularly regarding partnerships or shareholding. Our team is experienced in resolving such conflicts efficiently and effectively. We provide advice on resolving partnership disputes, shareholding disagreements, and other internal conflicts, aiming to achieve a favourable outcome for all parties involved.
Ongoing Legal Support
Business structures may need to be reviewed and adjusted over time as your business grows and evolves. We offer ongoing legal support to help you adapt to changes, whether it’s restructuring for tax efficiency, merging with another business, or expanding into new markets. Our proactive approach ensures your business remains legally sound and well-positioned for future success.
Strategic Planning and Growth
Beyond just selecting a business structure, we assist with strategic planning to support your business growth. This includes advice on funding options, risk management, and succession planning. Our holistic approach ensures your business is not only structured correctly but also primed for long-term success.
Expertise You Can Trust
With extensive experience in business law, our firm offers valuable insights and practical advice. We are committed to providing high-quality legal services that meet your specific needs and help you achieve your business objectives.
Ensure your business structure is set up for success with expert legal guidance. Contact Atkinson Crehan Law, today to schedule a consultation and secure the legal expertise you need for your business.
