There are various types of business entities that have varying benefits for any business. The needs of the business will determine what entity is the best fit.
In Arizona a business may choose to operate as any one of the following: Sole proprietor, C-Corporation, S-Corporation, Non-profit Corporation, Benefit Corporation, Professional Corporation, Partnership, Limited Partnership, Limited Liability Company, and Professional Limited Liability Company. When forming your business you have options let us help you decide what meets the needs of the business.
Plan and prepare against future liability. While the main purpose of forming a business entity should be to limit your individual liability, we want to help you plan and prepare for the worst case scenario, which will prevent liability to the business and especially to you individually. Internal agreements such as operating agreements, employment contracts, non-disclosure agreements, and non-compete agreements can help limit liability to the business and you individually.
The greatest benefit that a legal entity offers is a legal shield from personal or individual liability for the owners of the entity. By creating this legal shield owners of the business provide themselves with the necessary barrier to prevent liability for accidents that may occur. The business shield also offers the owners a separation from personal liability for debts that are incurred by the business in the event that the business fails. Some businesses can be operated without the formal legal structure of a corporate entity, however this is advised against due to the many pitfalls that can occur that will automatically find the owners of the business on a fictitious island by themselves.
At Peterson Law Offices we are here to make sure all of your business needs are met. We want to help you with the preventative care that will ensure that your business is protected from liability and that you individually are shielded from any and all liability.
Business Formation- naming, entity selection, filing and public notice;
Drafting of Internal Agreements i.e. Employment contract, non-disclosure agreements, non-compete agreements etc;
Leasing and Purchase of Real Estate;
Compliance with relevant law.
Need help with your business?
Peterson Law Offices PLLC