If you are planning on establishing a new business, Connolly & Rooney can assist you in the following ways:
• Determining just what type of business entity should be created (limited liability company, C or “regular” corporation, S corporation, general partnership, limited partnership, non-profit);
• Determining the best structure for management and operation:
• Determining the optimal method for funding and/or investing in the business entity;
• Determining the type of relationship which the co-owners should establish and maintain; and
• Providing all documents necessary to accomplish any of these tasks.
Once your new business is established or if you are currently operating a business, we provide day-to-day support in routine operational concerns. We can also assist you with business succession planning, whether such planning is intergenerational within a family or a retirement focused analysis of options which are available to the owner.
Other strategies and documents that may be involved include:
Organization and Creation –
— Selection of type of entity – sole proprietorship, LLC, corporation.
— Limited liability benefit analysis.
— Continuity of existence and operational considerations.
— Founders investments, involvement, rights.
— Public creation documents – Certificate of Formation or Articles of Incorporation.
— Tradenames and similar intellectual property rights considerations.
Lifetime of the Business –
— Creation and initial funding.
— Internal management documents – LLC Agreement and By-Laws.
— Records of management decisions – Records of Action and Minutes.
— Annual Reports to maintain charters.
Owner Related Aspects –
— Internal management agreements – Members Agreements and Shareholders Agreements.
— Redemption and cross purchase agreements.
— Options and similar arrangements.
— Life insurance acquisition and funding.Z
— Succession planning of all types.
Winding Up –
— Closing down operations, in all respects.
— Formal dissolution procedures and results.
— Post-closing exposures and considerations.