Business Organization & Restructuring
Support for operating, running and sustaining companies
Choosing the right structure can have a substantial effect on the operation of your business and exit strategies. Each type of business organization provides a different form of management and tax and liability implications. No one entity type is suitable for every kind of business or every situation, so you must thoroughly evaluate your business model, management style and goals before choosing a structure. As a client of our firm, our attorneys provide the guidance you need to get your business started. We can evaluate your business model and help you choose the structure that is right for you.
Organizing a business in Ohio
State law has created numerous business organizations available to businesses that make Ohio their home:
Each type of entity offers unique benefits and drawbacks. Corporations provide limited liability and allow companies to raise capital by issuing stock, but require strict adherence to corporate formalities and may subject profits to double taxation. General partnerships have tax benefits but do not offer limited liability, can be difficult to sell and can be hard to manage if the partners stop cooperating. LLCs provide limited liability but are taxed differently from corporations. We can help you make sense of these choices and make an informed decision.
Reorganization and other fundamental corporate changes
Businesses change over time. Just because a certain structure or management style worked for you when you first started out does not mean it provides the benefits your company needs now or in the future. The law allows you to alter the structure of your business to fit your new situation. However, like mergers and other fundamental corporate changes, doing so requires you to follow a very specific process.
As a client, you can expect to work with attorneys who know your business and are familiar with your needs. We can help you understand the benefits and drawbacks that reorganization of your company can provide, enabling you to make an informed decision. We can draft the required documents, make the necessary filings and, if necessary, negotiate with other stakeholders to facilitate the timely and efficient reorganization of your business.