Asheville Business Lawyers Assisting Business Owners in Western North Carolina and Surrounding Areas
Whether you are starting a small business or running an existing business, there are many legal issues to deal with. Deciding what kind of business entity would serve you best, dealing with licensing agreements, employment agreements, and corporate litigation while managing a host of other issues of business law can be overwhelming. You just want to run your business, provide your product or service, and serve your customers. You don’t have time to study all the ins and outs of business and corporate law, do mountains of legal paperwork, or spend hours in court. A skilled and knowledgeable business law attorney from Craig Associates can take the burden off your shoulders and leave you free to run your business while we take care of the legal aspects.
Call the Asheville offices of Craig Associates, PC at 828-258-2888to get the sound legal counsel you need to run and grow your business.
What Are My Options for Structuring a Medium or Small Business in North Carolina?
One of the most important decisions you can make as a new business owner (or an established business owner looking for a change) is how to structure your business. This decision can impact tax liability, record-keeping practices, legal and financial liability, and decision-making processes.
Which kind of business entity will serve your new business venture best will depend on your individual circumstances, but here are a few you have to choose from:
- Sole Proprietorship—In this model, the business has one owner, and the finances of the business and the owner are not kept separate. Income for the business is reported on the owner’s personal income tax forms.
- General Partnership—A general partnership works just like a sole proprietorship, except that profits and losses are divided among two or more partners.
- Limited Liability Corporation (LLC)—In an LLC, the owner’s personal property is protected against the liabilities of the business. The finances are handled separately.
- C Corporation—A C Corporation is also a separate legal and financial entity, and can offer a limit on the liability of the owner(s) for corporate debts.
- S Corporation—An S Corporation isa corporation that passes corporate income, losses, deductions, and credits through to its shareholders for federal tax purposes.
Consult one of the experienced business law attorneys at Craig Associates to determine your best avenue for success.
What Does it Mean for My Business to be an LLC?
Limited liability companies (LLCs) separate the finances of a business from the personal finances of the owner(s) and serve to protect the owner’s personal property from being seized to pay company liabilities. If a client sues your LLC, for example, and wins a judgment, your personal property, such as your home, your investment accounts, or your savings, will not be used to pay those costs. This can be particularly important protection if you own a business that carries a higher risk of liability claims, such as a business that disposes of hazardous waste or serves alcohol, for example, an LLC can be a good business structure to choose to ensure that your company liability does not become your personal liability and potentially rob you of your personal and family possessions and investments. C Corporations can also limit personal liability. Whether a limited liability company or a C Corporation is the best choice for your business depends on a shifting kaleidoscope of factors best assessed by a knowledgeable business law attorney.
What Kinds of Things Can a Business Law Attorney Help With?
Running a business can require all kinds of legal contracts and documents, including employment agreements, confidentiality agreements, non-compete clauses, licensing agreements, employment termination practices, compensation packages, fair labor practices, and corporate structure documents, to name just a few. Seeking out legal services to help with this mountain of paperwork can help ensure that your business does not run into issues of commercial litigation, employee lawsuits, or government sanctions in the future. You need to be free to focus on running your business. Let our corporate lawyers take care of the rest.
Need Help With Your Medium or Small Business? Talk to Our Asheville Business Lawyers Today!
At Craig Associates, we have the experience and knowledge of business law that you need to get your startup off on the right foot, run your business according to all necessary laws and regulations, and keep yourself and your business out of court. Our experienced business attorneys can provide the legal services you need to keep business running smoothly and stress at a minimum. Our business lawyers work night and day to keep on top of any changes or updates to business laws in North Carolina, and we put our knowledge to good use in keeping your business in compliance at all times. Call Craig Associates today to talk with one of our skilled business lawyers about how we can help you at 828-258-2888 today!