We work closely with new and existing business owners to help them choose and establish the business entity structure that best meets their needs. In recent years in Colorado, more than 100,000 limited liability companies have been formed annually as compared to approximately 11,000 corporations.
If a corporation best meets a client’s needs, we assist in preparing the articles of incorporation, bylaws, and shareholder agreements by which the corporation will be governed. We also assist clients and their accountants with important decisions such as whether an election for Subchapter S treatment under the Internal Revenue Code is appropriate.
If an LLC is the preferred entity, we assist in preparing the operating agreement and related documents. The operating agreement defines both the voting and the economic interests of the members, and requires discussion of buy-sell provisions, non-compete language, priority of distributions as well as voting rights. By assisting in preparing the operating agreement, we help clients avoid disputes among members over the life of the business. As the LLC matures, we assist in refining the agreement to reflect changes in structure, management and ownership. We also assist clients and their accountants in making decisions applicable to the LLC’s tax circumstances.
Business ventures often begin as partnerships between individuals or companies. We help our clients choose which partnership structure – general partnership, limited partnership or limited liability partnership – is most advantageous in terms of taxation, financing and risk minimization. Additionally, we assist in preparing the partnership agreement that defines how the partnership will operate and be governed.
When business entities mature or need to change, we help with restructuring, dissolution, and resolution of disputes.
