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Protecting your business and it’s interests.
Business Law Attorney In Lawrenceville, GA
How We
Help Your Business In Georgia
Whether you own a small business or a large one. At Hurban Law, LLC we work with all kinds businesses to help them start or stay in the business. We handle their business estate concerns and other legal challenges they have.
We work with all business owners to help them start or stay in the business.
Different Types Business Entities In Georgia
Customizing formation documents is also important to maximizing benefits for you and your business. Here are some of the most common business entities we work with and are used in the state of Georgia:
Corporation
A corporation is a business entity legally distinct from its owners. A board of directors governs it, with officers managing day-to-day operations.
S Corporation
Sometimes referred as an “S corp”, is a special type of corporation that’s designed to avoid the double taxation drawback of regular C corps. S corps allow profits, and some losses, to be passed through directly to owners’ personal income without ever being subject to corporate tax rates.
Professional Corporation
Professional corporations or professional service corporations (abbreviated as PC or PSC) are those corporate entities for which many corporation statutes make special provision, regulating the use of the corporate form by licensed professionals.
Limited Liability Company
It is a business structure that offers limited liability protection and pass-through taxation. As with corporations, the LLC legally exists as a separate entity from its owners. Therefore, owners cannot typically be held personally responsible for the business debts and liabilities.
Series Limited Liability Company
It is a group of LLCs which are owned in a tiered-down structure. The top tier LLC owns the lower-tiered LLCs. Each LLC has assets separate from the others, while the main LLC controls all the LLCs in the series.
Limited Partnership
(LP) is a business entity that requires at least one general partner and one or more limited partners. The general partner has unlimited financial liability. LPs are pass-through entities that have little or no reporting requirements.
Family Limited Partnership
A family limited partnership (FLP) is an arrangement in which family members pool money to run a business project. Each family member buys units or shares of the business and can profit in proportion to the number of shares they own, as outlined in the partnership operating agreement.
“In order to achieve the maximum liability shield, tax benefits, and business efficiencies, selecting the appropriate entity according to the business and owners & specific needs is critical.”
– Tim Hurban
Contract Drafting & Negotiating Services In Georgia
Hurban Law understands the importance of contracts for documenting business relationships, managing liability risks, and preventing business litigation. You can save time and money by utilizing our comprehensive contract drafting and negotiation services. Below is the list of contracts we work with:
- Directors’ and Officers Liability
- Franchise agreements
- LLC and partnership agreements
- Supply agreements
- Software agreements
- Employment contracts
- Stock option, profits interests, and incentive compensation plans
- Non-compete agreements
- Licensing and distribution agreements
- Service agreements
- Manufacturing contracts
- Real estate agreements
Limited Liability Company Formation
The Georgia Limited Liability Company is currently the most common entity formed by small businesses. Benefits to performing business functions through a LLC include minimizing personal liability, flow through taxation, some degree of anonymity, greater asset protection, and business credibility.
An LLC should be formed through a business attorney according to the specifics of the owners and business to maximize liability shield, tax benefits, and business efficiency. An LLC can be formed with the help of a lawyer for the following reasons:
- Advice on Maximizing Asset Protection
- Attorney Service as Organizer
- Customized Company Agreement
- Advice on Transferring Assets to LLC
- Advice on Structuring Accounts and Finances
- Follow Up Consultation After LLC Formation
Business Law Entity Agreements
Generally, business entities with multiple owners will want to put in place an agreement that memorializes their structure and operation. There must be parties able to contract, a consideration moving to the contract, the assent of the parties to the terms of the contract, and a subject matter upon which the contract can operate.
The following list are typically addressed in multiple business ownership agreements:
- Structure of corporation, partnership or LLC
- Shareholder, partner or member Involvement
- Elimination of undesirable owners
- Buy outs and dissolution
- Change of Control
- Minority Owner rights
protect your business today!
In spite of the fact that consumers may be able to use form websites to create LLCs that will be approved by the Secretary of State, not consulting with a business attorney about customized formation documents can have severe negative consequences.
Our office is available during normal business hours or you can use the form below to contact a lawyer for a free consultation.
Having A Well-Drafted Ownership Agreement Will Minimize Potential Disputes And Ensure Clear Expectations.
We are happy to provide a free 15-minute consultation session if you need quick guidance on whether a more in-depth meeting is needed. The free 15-minute sessions can be done either through a phone call or virtually.
