Business Organizations, Acquisitions & Dispositions Attorneys in Rockford
Assistance You Need When You Create, Buy, or Sell a Company
The attorneys at Reno & Zahm LLP are creative business advisors who enjoy excellent reputations as business law counselors. We understand the issues and opportunities facing businesses of all sizes or at any stage of a company’s life cycle. Our clients are corporations, non-profits, newly formed businesses, limited liability companies, partnerships, joint ventures, and other types of companies existing in various industries.
We offer proactive advice and solutions to help business owners address matters concerning formation, acquisition, and selling that apply to their companies. Such matters can amount to the nature of contractual obligations (including hold harmless provisions), insurance coverage, employment, warranties, trade secret protection, and hold harmless provisions.
Business Formation for Your New Company
When you create a company, there are many types of business organizations to choose from, but four basic types are most commonly used. You may know from the beginning which type you want to go with, but a Rockford attorney for business organizations, acquisitions, and dispositions can help you determine which may be best for your preferences.
The four main types of businesses are:
- Sole Proprietorships: These companies are indistinguishable from their owners. All of your company’s profits are yours and you can make any decision without fear of conflict from a partner. You are, however, entirely liable for the business’ debts and ownership is difficult to transfer if you decide to sell the business after all.
- Partnerships: This type of company allows two or more partners to invest their assets, property, and work into a business. Partners are often 100-percent liable for business debts unless the company is organized as a limited liability partnership. Partnership agreements typically govern how these businesses are run and plan for events like dissolution or the retirement or death of a partner.
- Limited Liability Company: LLCs can look like partnerships because members share in the ownership of them and benefit as partners do from profit. Members are also limited in their liability for debts and losses, which is a key reason for this common business structure to be chosen.
- Corporations: These companies limit their owners’ liability for debts because profits and losses are the responsibility as the corporation as an entity, no individual person. Ownership can be easily transferred, even if setting up a corporation is costly and complicated in many cases.
Helping Clients With Acquisitions & Dispositions
If you’re a business owner looking to expand your company or sell one, Reno & Zahm LLP can assist you. Our business organizations, acquisitions, and dispositions attorney in Rockford works with clients who want to purchase or sell their company.
We’ll work with you every step of the way – from seeking buyers or sellers to business valuation and closing, we’re the lawyers who understand what to keep an eye on during the process. We’ll act as your legal representation to protect your rights and interests whenever you decide it’s time to buy or sell a company.
Contact Reno & Zahm LLP online to schedule a free consultation with one of our attorneys today.
“He advised us as to our options, providing support and expertise and guiding us through the process we went through.”
“I find this firm easy to work with, and the people I work with to have integrity.”
“I worked with Michael Schultz during the process of purchasing a home. He was extremely thorough and professional.”