Business Entity Formation
Forming and Running a New Business in the State of Ohio
People looking to start their own business are often confused by the advantages and disadvantages of forming a business entity to protect their personal assets and/or to manage the new venture. There are many disadvantages to operating a business as a sole proprietorship and forming a separate business entity can help:
limit personal liability of business debts
allow for the assignment of managerial powers and responsibilities
form a voting structure for the operation of an existing or new business venture
allow for the sale of stock and other ownership interests to raise capital from potential investors if additional investors are sought.
These issues and others can be addressed in a variety of different ways through the formation of a proper business entity, such as a general partnership, limited partnership, corporation, S-corporation, limited liability company, or a professional limited liability company.
The Law Offices of Robert J. Simon, LLC can help you determine what business entity best suits your needs and how to properly file that entity with the State of Ohio. In addition, as your business grows we can assist in explaining how to maintain proper record-keeping procedures and provide unique documents tailored to your business needs, such as employee agreements, employee non-compete agreements, trade secret/confidentiality agreements, and walk you through the trademark process.
Whether forming or operating a new business in Ohio, do not hesitate to contact us to discuss what our firm can do to meet your needs in an effective and efficient manner.