Formation and Corporate Dissolutions

Rockville, Maryland, Formation and Corporate Dissolution Attorney

Corporate Formation

Individuals who conduct business under a sole-proprietorship or general partnership place unnecessary risk on personal assets. Most of this risk can be limited by conducting business through a separate entity, a corporation. In addition, some states allow individuals to conduct business pursuant to a statutory Limited Liability Company. This has all of the benefits of a corporation, but without the strict requirements of the corporate housekeeping formalities.

Prior to finalizing your incorporation, you must consider the means in which your business ownership will be transferable. Ownership shares of corporations may transfer either voluntarily or involuntarily.

Corporate Dissolutions

Many businesses, including corporations, partnerships and limited liability companies, have been successfully formed and conduct operations solely by means of an oral agreement and a handshake. However, when disputes arise, more companies would have rather been formed by a formal written agreement which has been reviewed by each party’s attorney. These agreements can be either straightforward transactions involving as little as two owners, issuance of stock certificates, and preparation of buy, sell agreements which can be finalized within a matter of days, or highly sophisticated written agreements which have taken upwards to a year to finalize. Both of the above agreements can be equally binding. Problems usually arise when investments in time and money are not evenly balanced between the various owners.

For more information, contact an employment lawyer at Farber Legal. We offer an initial consultation at a discounted fee. We represent clients in Maryland and the Washington, D.C., area, including Rockville and North Bethesda.