Minneapolis Attorney Eric Prindle
If you are starting a business, it is important to carefully consider which type of business entity is right for you. If you do business without registering an entity, you could be exposed to personal liability for lawsuits, and you may be missing out on tax advantages. On the other hand, if you register the wrong type of entity, you could get stuck with high maintenance costs or an inflexible structure that does not meet your needs.
This is where the advice of an attorney can play a crucial role. I am familiar with the advantages and disadvantages of the various types of business entities that can be created under Minnesota law, and I can advise you on the approach that is right for your business. I am available to assist clients with the formation of entities such as:
- Corporations
- Limited liability companies (LLCs)
- Limited liability partnerships (LLPs)
- Professional corporations, LLCs and LLPs
For each type of business entity in Minnesota, there are specific record-keeping, procedural, and filing requirements that must be followed in order to keep an entity active and preserve the protections of limited liability. If I handle the formation of your business entity, I will remain available to assist you with the ongoing requirements of maintaining that entity.
I also assist clients with the drafting of shareholder agreements, operating agreements, partnership agreements, and other agreements between business owners. Even if your business only has a single owner, it is generally advisable to put one of these agreements in place, and for any business with two or more owners, a well-drafted agreement can prove crucial in the event of a future disagreement or unexpected circumstance such as the death of one of the owners.
Whatever type of business you are establishing, whether on your own or with partners, I will take the time to understand your goals so I can advise you on your business formation options. To discuss how I can assist you, please contact me to schedule a consultation.