Business & Corporate Formation Lawyers in Pittsburgh, PA Help Build Your Company from the Ground Up
Advice for all types of business formations
If you want to start your own business, it is essential to seek the advice of a skilled business law attorney to determine the most suitable legal entity for you. At Feldstein Grinberg Lang & McKee, P.C., we know that each type of business has its own advantages and requirements, which we fully explain to you. It is our goal to get your business off to a strong start by maximizing benefits and minimizing liabilities.
Types of business entities
When you partner with us, we listen to your business goals and help you understand which type of entity can best achieve those goals. Whether your business is new or the result of a merger and acquisition, we offer sound advice backed by years of experience. Examples of business types we can assist you with include:
- Sole proprietorships. A sole proprietorship is not a legal entity. It is nothing more than a person starting a business under another name, or DBA (doing business as). There are no protections available under a sole proprietorship, so you are legally liable for any lawsuits against you. Before you establish a sole proprietorship, seek legal services for other options that may be more beneficial.
- Limited liability company (LLC). A limited liability company can have one or more owners referred to as members, and it provides all owners with a certain degree of limited liability. An LLC, which often has flexibility with income allocation, is governed by an operating agreement that defines the basic rights and obligations of its members. Small businesses oftentimes use an LLC.
- Limited liability partnership (LLP). An LLP provides all of its owners with limited personal liability. LLPs are commonly established by professional groups, such as physicians, lawyers and accountants, because the partners don’t want to be personally liable for another partner’s legal problems. An LLP protects each partner from debts against the partnership arising from professional liabilities such as malpractice lawsuits against another partner.
- Corporations. A corporation is typically formed for larger businesses. The corporate structure involves shareholders, a board of directors and officers. It is the type of entity that most major companies favor because it provides owners with limited liability and very defined rights and privileges.
Our family business lawyers fully explain the pros and cons of each type of entity, including the potential impact on your personal liability, which is very important when creating a family business.
What about trademarks?
Many entities create a trade name to go with their business. It is important to determine whether this action requires a trademark or “symbol” to market you as a business or a brand. We can help you research your trademark to ensure you’re not accidentally copying another business’s trademark that is similar. That could result in legal repercussions leading to commercial litigation.
If you have questions about forming a business, contact us
Feldstein Grinberg Lang & McKee, P.C. can help determine which entity formation option best suits your needs. Call us at 412-436-5788 or visit our website to schedule a personal and confidential consultation. Our office hours are from 8:30 a.m. to 5 p.m. Let us handle your business needs.