Altus Law Group can assist you with all aspects of business formation, contract negotiation and drafting, as well as provide advice with respect to transactional matters. We will help you devise a business succession plan to ensure that your business either continues, or is properly wound up, in your absence. Competent legal counsel is essential in order for business owners to maximize opportunity and minimize potential liability.
Altus Law Group can negotiate a wide variety of contracts such as partnership agreements, leases, purchase agreements, service agreements, and more. The attorneys at Altus Law Group have vast experience assisting their clients with business law related issues.
Common Business Formations:
Corporation. Altus Law Group can help you properly create a corporate structure for your business. It is imperative ensure that the roles, duties, capital contributions and other administrative matters are properly drafted in the By-Laws. Altus Law Group will first assist with determining whether a corporation is the right type of structure for your business, and then handle all the steps involved with forming and maintaining the corporation so all state and federal laws are satisfied.
Limited Liability Company (LLC). Altus Law Group can help you form a LLC, which is a hybrid that combines the liability protection of a corporation, with the less onerous characteristics of a limited partnership or sole proprietorship. The beauty of this entity is that the LLC’s members cannot be held personally liable for the LLC’s debts or liabilities. The LLC members can flow any taxation onto their personal income tax returns, rather than filing a separate corporate return. Altus Law Group can help you decide if an LLC is the proper entity for your business.
Limited Partnership (LP). A limited partnership exists when two or more partners agree to jointly conduct a business in which one or more of the partners is liable only to the extent of the amount of money that partner has invested. Altus Law Group can advise you on whether this is the proper entity for your business.
Business Succession Planning:
Continuing a business beyond one generation of leaders requires careful planning. Altus Law Group will assist you in planning for the transferring of private shares, transferring leadership or winding up the business. We will help you clearly outline who will own and operate the company once the owner no longer serves in a daily capacity to ensure a minimal impact on long-term business profitability. Although business succession planning is a challenge, if properly developed and implemented, an owner will be rewarded with watching the business grow and succeed well into the future. As all business succession plans will have various legal and tax-related consequences, involving a trusted advisor such as an attorney is a prerequisite to ensure that all applicable considerations are properly addressed. Altus Law Group can assist you with your business succession planning and ensure it is working in conjunction with your estate plan.