Protecting Your Business And Yourself From Liability
Choosing the right type of corporate entity is crucial to the success of your business. The attorneys at Patel & Dalrymple have extensive experience in assisting both new and on-going businesses in business formation, restructuring and transactions. Call 434-338-7080 to schedule a consultation. Our law office is in Lynchburg and we serve business owners throughout central Virginia.
Why You Need A Business Entity
A business entity is a shield against the potential liabilities of a business. Without a corporate shield, you could be personally liable for lawsuits, debts and other liabilities associated with your business. The right business entity can also help you secure desired tax treatment.
The following are examples of the business entities our attorneys create:
- Limited liability companies and limited liability partnerships (LLCs and LLPs)
- S- and C-corporations
- Business trusts for real estate investments
- Family limited partnerships
Our lawyers seek out innovative ways to achieve your objectives. For example, if you own multiple real estate properties, you may want to consider placing all of your properties in a business trust rather than multiple LLCs. A business trust provides liability protection without the costs, tax and administrative headaches associated with multiple LLCs.