We can’t emphasize enough how much you need a Massachusetts business formation attorney for your company. Don’t fly by night with blank forms from the internet. Get customized legal advice about how to form your business, which documents you need, legal compliance requirements, and more.
Business Formation Basics from an Experienced Attorney
If you want to form a business in Massachusetts, you’ll need legal advice on the best entity type to choose. Choosing an entity type is a basic step required before you can submit paperwork to have your business recognized by the state. You have a number of options, such as a corporation, partnership, limited liability company, or sole proprietorship. Each different entity type has pros and cons. For example, some entity types provide better protection from legal liability for owners than others do. Different structures work better for different types of businesses, too. Our firm recommends that you consult an attorney to ensure the entity type you choose best suits your business.
After you pick an entity type, you’ll need to complete required paperwork, including legal formation documents filed with the state. You’ll also need to select a business name and ensure it’s not already in use by someone else. You may need to set up a DBA (“doing business as”) name or file for a trademark. You will need to designate an agent for service of process. These are only a few of the many steps new business owners must complete, and it goes much more smoothly with a business formation attorney’s help.
Common Legal Issues that Arise During Business Formation
While business formation may seem straightforward on the surface, we see common legal issues arise when new owners try to set up a business. For example, business partners may initially think they will all be very involved in the business. However, one partner may take a big step back from responsibilities after realizing how much work it is. This can cause partnership disputes, because another partner has to take on their responsibilities. In a situation like this, a good business formation attorney will have ensured that the partnership agreement accounts for changing responsibilities and allocates compensation appropriately. It may allow removal of a partner for failing to fulfill responsibilities, or designate a “silent partner” for a partner who only contributes financially.
Another common issue we see is failure to complete some of the new business requirements from the start. Maybe you didn’t realize that another local business has a very similar name and trademark. Or you forgot to make an annual filing with the Secretary of State. Or maybe the basic corporate organization documents you downloaded and filled out are missing crucial information. Our firm is here to help when you run into issues like these. We encourage you to reach out for a consultation as soon as you realize that you may not have completed something required.
Frequently Asked Questions
How do I choose between forming an LLC or a corporation?
Great question, and the choice depends a lot on what kind of business you’re forming, who the owners will be, and your plans for funding the business and managing responsibilities. We recommend a consultation with a business formation lawyer to discuss further.
My business wants to open a Massachusetts location – what are the requirements?
We’re happy to help with your legal needs when opening a Massachusetts location of an existing business. There are local and state requirements you must follow, such as filing with the Secretary of State. Give us a call to discuss further!
Business Formation Questions? Start Off on the Right Foot
Are you looking for a dependable, experienced lawyer who can help you form a business? Daigle Law Office’s attorneys help both new and growing businesses meet legal requirements. It’s best to seek professional help to make sure your business starts out on the right foot. We help business clients who need solid, reliable legal advice. To schedule a consultation, call 508-771-7444 or use our convenient Contact Form.
