Business Formation for LLCs and Limited Liability Partnerships

Limited liability companies (LLCs) and limited liability partnerships (LLPs) are business entities that have become increasingly popular among new business owners and offer several unique benefits for many companies. The formation of an LLC or LLP, like any business entity, requires thorough planning for many legal and financial issues, including plans for the succession or dissolution of the business.

At the law firm of Farrell & Martin, in St. Peters, Missouri, our attorneys can help you with the formation of your business and will ensure that your interests are fully protected. Our firm builds on-going relationships with clients and advise them on a variety of issues throughout the life span of their business ventures. Our lawyers are also seasoned litigators who can handle any contract and business disputes that may arise down the road.

Start your business off on the right track. Contact us at Farrell & Martin, and get the experienced help you need for the formation of your business.
Benefits of LLCs and LLPs

LLCs and LLPs each offer their own benefits in comparison to corporations, partnerships and sole proprietorships.

A limited liability company combines certain characteristics of a corporation and a partnership. Like a corporation, its members receive ownership interests in exchange for property, money or services. Also like a corporation, an LLC limits the liability of its members by forming as a separate business entity. LLCs, however, have many of the tax benefits of a partnership. LLCs also do not have many of the requirements that corporations have, such as annual meeting, shareholder requirements or the election of a boards of directors.

An LLP is like a general partnership with some personal liability protection for each of the partners. Additionally, greater flexibility is allowed in splitting profits and losses and the management structure is much simpler than that of a corporation.

At Farrell & Martin, we will analyze your situation and your business goals to determine what business entity is right for your situation. We can help you draft Articles of Organization, buy/sell agreements, operating agreements, membership agreements, employment contracts and other necessary documents for your business. When necessary, we can also handle business acquisitions and business dissolution or liquidation matters.

Contact Us to Learn More About Small Business Formation

If you are starting a new business and would like more information about business formation and entity selection, contact us at the law firm of Farrell & Martin. Schedule a consultation and learn how our firm can help you meet your business goals. We offer a flat rate fee for many of our business formation service plans.

Call us at our office in St. Peters at 636-397-2600 to schedule an appointment. We offer free initial consultations.