The Importance of Solid Business Planning


All forms of business contracts, including Business Partnerships, Limited Partnership Agreements should be carefully drafted to ensure protection of the rights of all parties.  Incorporating a business presents different elements to be clarified and steps to follow to ensure compliance with state laws.

Whether you are forming a corporation or establishing a sole proprietorship, it is always advisable to have contracts and agreements written and reviewed by a qualified attorney.  It is important to find an attorney with experience in drafting durable and comprehensive agreements including: Limited and General Partnership Agreements, Limited Liability Corporation Agreements, as well as the legal process of forming a corporation.

Working with an attorney with a strong background in contract law gives you the professional assistance needed to determine if the elements of your contract are valid and expressed appropriately in a legal context.  An attorney will also have the ability to recognize unclear or ambiguous language, protecting you from future issues.

Another area where seeking the assistance of an qualified attorney is when selecting the form of entity for your business, especially with regard to potential tax implications.  Whether you form a Sole Partnership, General Partnership, Limited Liability Corporation or a Corporation, it is essential to have a deep understanding of both short- and long-term implications for each scenario.  Corporate maintenance and managing your business, while ensuring continuous compliance with rules and regulations surrounding your chosen industry also require sound counsel.