Chicago Corporate Formation Attorneys
What Is Corporate Formation?
The complexities of corporate law and entity formation mean that only experienced and knowledgeable legal professionals are qualified to provide effective guidance in this area. When forming a business entity, you must carefully consider the advantages and disadvantages of each entity type and how these factors align with your objectives.
Our Chicago corporate formation lawyers at Regas & Dallas P.C. can assist you in selecting and forming the appropriate entity for your business.
Our team has over 100 years of collective experience and has helped numerous clients create:
- Partnerships
- Limited liability companies
- And corporations
We can provide efficient and professional guidance through the formation process and ensure your new entity is appropriately registered and meets all other regulatory requirements.
To learn more about our formation services, call (312) 702-1809 or contact us online to request your consultation.
Over a Century of Combined Experience
At Regas & Dallas P.C., we do not take on more cases than our team can handle. We carefully limit our clients so that each can receive the highest levels of professional service. Our firm is invested in your new venture’s long-term success and is committed to carefully evaluating your circumstances to determine the best path forward.
When choosing a business entity, you will need to consider:
- Tax efficiency
- Personal liability
- Regulatory requirements
- And organizational structure
Some entity types, including corporations, are subject to more regulatory oversight than others. We have a full knowledge of corporate law and can assess your unique needs when providing guidance with entity selection.
Cases We Handle
Our Chicago corporate formation attorneys can assist you with:
Incorporation Documents
Articles of incorporation outline the management structure of a corporation. Incorporation documents will generally cover the name of the corporation, its location, its type, the partners involved, the number and types of shares that will be used, how decisions will be made, and how disputes will be managed.
Incorporation documents must be registered with the Secretary of State and represent one of several mandatory steps when forming any type of corporation. There are many categories of corporations, each with its own organizational, regulatory, and tax implications.
We can assist in selecting the corporation type that will support your goals, prepare the incorporation documents, and file them with the appropriate regulatory authorities.
Partnership Agreements
Partnerships involve two more individuals who work together to manage a commercial venture. They are often ideal for small businesses, and each partner shares in the arrangement’s profits, losses, and liabilities.
Partnerships can vary wildly in complexity depending on the scale and nature of the underlying business. To avoid ambiguity and future conflict, a partnership agreement defines each individual’s stake in the business and divisions for profits and losses.
A robust agreement will also state the length and conditions of the partnership as well as mechanisms for making decisions and resolving disputes between partners. We can assist with drafting partnership agreements that will protect your interests.
We can also assist with the dissolution of partnerships if a dispute becomes irreconcilable or if the arrangement has run its course.
LLC Agreements
A limited liability company, or LLC, is a business classification that limits its members’ personal responsibilities to the entity’s liabilities and losses.
LLCs are popular with small businesses thanks to their flexible management structure and relatively minimal regulatory reporting requirements. LLCs can involve a sole business owner or be made up of multiple members.
An LLC agreement should outline the business’s organizational structure and each member’s rights and obligations to the entity. Our team can prepare and register single-member LLC and multi-member LLC agreements.
Shareholder Agreements
Shareholder agreements govern how a corporation will be overseen and operated by stockholders. The document should address financing, management, dividends, dispute resolution, protections for minority shareholders, regulations for selling shares, and other decision-making mechanisms. We can assess your corporation’s needs and prepare shareholder agreements.
Business Entity Conversions
As your business grows and evolves, you may wish to convert your company into a different type of business entity. This can typically be accomplished without dissolving your current entity and creating a new one. Our team can advise on conversion options and assist you with preparing plans of conversion, articles of incorporation, and certificates of conversion.
Business Continuation Planning
What would happen if the leaders of your business were to suddenly pass away, become incapacitated, or otherwise be unavailable? Business continuation planning allows you to proactively prepare for every contingency and establish mechanisms for who will assume key leadership positions in times of crisis or when you or your partners retire. We can help you understand the contingencies and scenarios you should prepare for and assist in establishing continuance and succession protocols that are consistent with your goals.
LLC Creation in Chicago: Navigating Local Regulations and Resources
Starting an LLC in Chicago comes with its unique set of challenges and opportunities. As a business owner, you need to be aware of the local regulations and resources available to you. The City of Chicago and Cook County offer various resources to help new businesses thrive, including the Chicago Department of Business Affairs and Consumer Protection (BACP) and the Illinois Secretary of State's office. These entities provide essential information and support for business registration, licensing, and compliance.
One common pain point for new LLC owners in Chicago is understanding the local tax obligations and regulatory requirements. Chicago's business landscape is dynamic, and staying compliant with local laws is crucial for your LLC's success. Our team at Regas & Dallas P.C. is well-versed in the intricacies of Chicago's business environment and can guide you through the process of forming and maintaining your LLC.
Another challenge is navigating the city's zoning laws and obtaining the necessary permits. Whether you're setting up a storefront in Lincoln Park or an office in the Loop, understanding the local zoning regulations is essential. We can help you ensure that your business location complies with all local ordinances, saving you time and potential legal headaches down the road.
At Regas & Dallas P.C., we understand the unique needs of Chicago business owners. Our deep knowledge of the local market and regulatory landscape allows us to provide tailored advice and support. From drafting your LLC agreement to ensuring compliance with local laws, we are here to help you every step of the way.
A Complete Suite of Business and Corporate Transaction Services
Our Chicago corporate formation lawyers are committed to providing your business with exemplary representation in all areas.
In addition to our formation services, we can assist you with:
We can also aggressively advocate for you with leadership and shareholder disputes and all form of commercial litigation.
To speak to a member of our team about our formation services, call (312) 702-1809 or contact us online.
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