Starting or Expanding a Small Business in Chicago?
Our Business Lawyers Can Serve All Your Professional Needs
Starting, running and expanding your own company can be incredibly rewarding, but the legal aspects of doing business leave many entrepreneurs feeling confused. Hiring an experienced business lawyer can not only alleviate this confusion, but it can also help you thrive. A business attorney can assist you in starting your own company and can offer legal advice on all your small business issues: from choosing what kind of business entity is best for you, to adding employees and interacting with customers.
LAD Law Group, P.C., founded by attorney Jemelle Cunningham in 2010, assists small business owners and entrepreneurs throughout the Chicago area with our employment and business law practice. We can work with you on incorporating your business as well as drafting contracts and documents or reviewing agreements on your behalf. We also offer representation in business litigation and have experience with alternative dispute resolution.
What Can a Business Transactional Lawyer Do for Me?
For most people who own a small business in Chicago, an attorney is essential to keeping operations running. A trusted, experienced business lawyer can help you at every stage of the process, including filing the necessary paperwork to get your company up and running, hiring staff, licensing your products and even resolving disputes. At LAD Law Group, our attorneys can assist you with:
- Starting a business, including choosing an entity form
- Writing and reviewing documents and agreements
- Vendor contracts, customer agreements and more
- Operating agreements
- Lease and rental agreements
- Employee contracts, including hiring and termination
- Independent contractor agreements
- Non-compete and non-solicitation agreements
- Drafting employee handbooks, as well as company policies and procedures
- Business litigation, including alternative dispute resolution such as arbitration, negotiation and mediation
- Registering trademarks, patents and copyrights
Your business attorney can also ensure that your company follows all applicable laws and regulations. Working with a lawyer thus helps minimize the risk of future lawsuits and disputes, both internal and external.
What Kind of Business Entity Should I Start in Chicago?
For many entrepreneurs and start-ups, the first step in actually founding your business is choosing a form of business entity. This choice determines your personal liability as well as what other documents, contracts and tax arrangements will relate to your business. A business transactional lawyer can explain what type of entity is best for you.
The general types of business structures you may consider are:
- Limited Liability Company (LLC). These are independent entities in which the owners have no personal liability for the business.
- Sole Proprietorship. This type of business is owned by just one individual, who remains personally liable for lawsuits and other legal matters pertaining to the company. This type of entity is usually best for small operations.
- Partnership. A partnership is similar to a sole proprietorship, except the business may be owned by more than one person. There are different kinds of partnerships, depending on liability:
- General Partnership. In a general partnership, all partners assume equal responsibility and liability, unless otherwise documented.
- Limited Liability Partnership (LLP). An LLP allows some partners (â€ślimitedâ€ť partners) to avoid personal liability and have only limited management power.
- Joint Venture. These partnerships are identical to general partnerships but last for only a set period. A business may begin as a joint venture and then evolve into another entity.
- Corporation. In a corporation, shareholders own the business and do not have any personal liability to it. These are more complex than other business types and are generally not suited to start-ups and small companies. However, as a business grows, the owner(s) may incorporate.
- Professional Corporation (PC). This is an entity for those who hold licenses in a certain profession. Members (owners) are not personally liable for lawsuits and actions brought against the other members.
Our Chicago Business Lawyer Is Ready to Help
Even if you have a relatively simple business idea, doing business is often complex. However, a business transactional lawyer can help you at every stage of the life of your company, whether you want to start or already own a small business in Chicago. Whether you need assistance establishing your business, crafting agreements or expanding our operations, an attorney from LAD Law Group, P.C. can offer advice and guidance. We can also advise you of your rights and obligations in hiring and firing practices as well as business disputes.