Starting a Business

How Can Our Sioux Falls Business Lawyers Help?

We can provide efficient and professional guidance when forming your business to ensure you are appropriately registered, organized and meeting with all other regulatory requirements.  When choosing a business entity, you should consider tax efficiency, asset protection, regulatory requirements and organizational structure.  Our Sioux Falls business attorneys have full knowledge of corporate law and can assess your unique needs and help you with your business entity selection.  

• Corporations:  We can help with incorporating documents and filings to create your corporation.  While the articles of incorporation are the first step, there are many steps thereafter that need to be taken in order to make sure you are protected and your corporation is setup correctly and operating correctly in the future.  Having by-laws and structuring things like a buy-sell agreement if you have multiple shareholders are critical.  Our Sioux Falls business lawyers help guide clients through governing law provisions, tax options, and asset protection planning.  It is important to startup a business correctly as often it is much harder to cleanup things after something has gone wrong. 
• Partnerships:  Partnerships involve two or more individuals who have ownership stake in a business.  Partnerships can vary wildly in complexity depending on scale and underlying business.  Having a robust partnership agreement will help all partners govern transparently and fairly.  Your partnership agreement should include mechanisms for making decisions and resolving disputes.  A general partnership does not offer any liability protection.  In today’s world, it is smart for business owners to create limited liability partnerships or limited liability limited partnerships for asset protection.  
• Limited Liability Companies:  A limited liability company is often a preeminent business entity to select for asset protection purposes and ease of administration.  An LLC is a business classification that limits its members’ personal responsibility to the entity’s liabilities and losses. LLCs are also a popular choice of business entities thanks to their flexible management structure and relatively minimal administrative requirements.  LLCs can have one business owner or can have multiple business owners.  An LLC operating agreement is the governing document that outlines the business’ organization structure, each member’s rights and obligations, and include the governing terms for the members.  Our Sioux Falls business attorneys can help you create an LLC that still can have the tax benefits of an s-corporation and the limited liability benefits of an LLC.
• Business Entity Conversions:  Our Sioux Falls business lawyers can help you convert your business entity.  As your business evolves, you may wish to convert your company into a different type of business entity.  This can typically be done without dissolving your current entity and creating a new one.  Our business lawyers can advise on conversion options and assist you with creating a plan of conversion, articles, and certificates of conversion.