LLC Starter Toolbox
LLC Attorney serving Massachusetts & Washington D.C.
Interested in Opening a Business?
Starting a business can be as straightforward as selling a product or offering a service from your home. However, to operate under a Limited Liability Company (LLC), it's essential to have the right legal documents and filings in place. Forming an LLC is crucial as it protects its owners from the company's debts, ensuring that personal assets remain secure if the business cannot meet its financial obligations.
Without establishing an LLC or another business entity, you may be classified as a Sole Proprietorship or a Partnership. This designation exposes you to personal liability for any debts or legal issues faced by the business, potentially putting your personal finances at risk. Every entrepreneur should prioritize the protection of their personal assets alongside their professional endeavors by creating an LLC or corporation.
A Limited Liability Company (LLC) is a distinctive business entity formed by submitting the appropriate documentation to the Secretary of State or a comparable regulatory office, along with other agreements that may depend on the number of owners involved. The structure of an LLC provides what its name signifies: limited liability.
Limited liability protects the personal assets of the owners, ensuring that they are not personally accountable for the debts and obligations incurred by the business. Liability, in this context, refers to any financial responsibility that a business may not be able to fulfill, such as outstanding credit card balances, loans, court judgments, and other financial commitments. Without the safeguards of an LLC or a corporation, business owners may be compelled to utilize their personal assets to cover the company's liabilities, potentially risking their financial stability. This is a crucial consideration for potential business owners looking to mitigate personal risks while pursuing their entrepreneurial goals.
What is a Limited Liability Company?
Who Uses Limited Liability Companies?
There is a prevalent misconception that establishing formal business entities, such as Limited Liability Companies (LLCs), involves excessive costs and a significant investment of time, often perceived as a process suited exclusively for larger companies rather than small business owners. Contrary to this belief, the reality is quite different.
For entrepreneurs venturing into the business world, forming an LLC should be one of the initial steps taken to safeguard their personal assets as early as possible. An LLC provides a crucial liability shield, which protects the personal finances of the owner from any debts or legal issues incurred by the business. This protection is invaluable, especially in the formative stages of a business when risks may be higher and financial stability less certain.
The Fodera Law Firm offers affordable services to streamline the process of forming an LLC and drafting other necessary agreements. Book a consultation today by calling the number below or email Contact@LLCstarter.com.
What Do You Need to Start a LLC?
Anyone looking to open an LLC will need the following:
Business Name - a unique name for your business. This is the very first step of starting a LLC as you cannot create one without it.
Registered Agent - an individual or business entity designated to receive official documents on behalf of the LLC such as service of process in the event of a lawsuit. The registered agent must have a physical address in the state and be available during normal business hours to accept these important documents. This can be the business owner if they are a resident of the state of organization.
Certificate of Organization - this document is filed with the Secretary of State of other similar office and details the name of the business, its physical address, the name and address of managers, and the registered agent’s name, address, and signature.
Prepare an Operating Agreement - this is an optional but necessary agreement detailing how the company will be run and the roles of each owner and manager. This agreement is highly advisable where the LLC has multiple owners, owners who do not work for the company, or the owner is a Trust.
Obtain an EIN - an Employment Identification Number (EIN) is needed for all LLCs, even if you have no employees. This number is important for filing documents as it is an identifying number from the federal government, specifically the IRS.
This is not an exhaustive list of what is needed to start a LLC as it will depend on your unique situation. The Fodera Law Firm offers affordable services to streamline the process of forming an LLC and drafting other necessary agreements. Book a consultation today by calling the number below or email Contact@LLCstarter.com.
Once Your Started, What’s Next?
Once you have the legal entity created, you are ready to begin operating your business and turning a profit. However, there are many other considerations or items to be completed to start your business. The Fodera Law Firm is proud to provide the full range of business starter services at an affordable value, including:
Creation or updating of a website
Purchasing a unique domain name
Obtaining an email with your domain name
Finding relevant grants in your field to help your business grow
Creation of a formal business plan
Drafting Standard Operating Procedures & Employment Agreements
Logo & brand design
Acquire title to real estate under the LLC
Compliance with annual filing requirements
Contract drafting and negotiations
Book a consultation today by calling the number below or email Contact@LLCstarter.com.
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At The Fodera Law Firm, we are deeply committed to delivering accessible and dependable legal services that empower our clients to focus primarily on their core business operations rather than becoming overwhelmed by legal concerns. Recognizing the inherent stress and uncertainty faced by business owners and entrepreneurs alike, our goal is to provide each client with the invaluable peace of mind that comes from having professional legal support readily available. Businesses should not wait for legal problems to arise before engaging with a qualified attorney. Schedule a consultation today to explore how we can effectively support your unique business needs and aspirations.
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How Can the Fodera Law Firm Help?
The Fodera Law Firm has the expertise needed to assist clients with issues such as:
Business Formation
Development of Company Policies
Operating Agreements
Anti-Discrimination Training
Anti-Sexual Harassment Training
Contract Negotiations and Disputes
Drafting Non-Compete Agreements
Wage Disputes
Navigating Reasonable & Religious Accommodation Requests
EEOC and NLRB Defense
Contact an Attorney Today
The Fodera Law Firm is ready to use it's experience, knowledge, and resources to effectively handle your matter.
Contact us today to book a consultation. Fill out our contact form or give us a call at the number below.
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Meet Ross J. Fodera, Esq.
Ross J. Fodera, Esq. is the founder of the Fodera Law Firm and specializes in small business legal services, including employment disputes, real estate transactions, corporate formation, contract disputes, and risk management. Since becoming an attorney Mr. Fodera has been involved in a number of six-figure settlement negotiations, EEOC proceedings, and real estate litigation. Mr. Fodera takes pride in providing affordable services and effectively communicating with clients so they understand every stage of their representation. Mr. Fodera is barred in the District of Columbia and Massachusetts.
The Fodera Law Firm
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Website was original creation of Ross J. Fodera, Esq.
Locations:
427 Water Street, Wakefield, MA, 01880
Serving Massachusetts & Washington D.C.