Business Formation

Memphis Business Formation Lawyer America in general and Tennessee in particular has a rich tradition and history of entrepreneurs who have opened their own businesses, achieving success and financial freedom in doing so. A business does not succeed simply by...

Memphis Business Formation Lawyer

America in general and Tennessee in particular has a rich tradition and history of entrepreneurs who have opened their own businesses, achieving success and financial freedom in doing so. A business does not succeed simply by luck, however. It takes careful planning and execution of those plans to help give the business the best possible opportunities for success. There are many decisions that need to be made before a business is formed such as the type of business entity that will be established, how the business will be run, and how the business will receive its initial start-up funds (just to name a few).

The seasoned team of legal advocates at Douglass & Runger, PLLC, Attorneys at Law, is experienced in helping new and experienced entrepreneurs carefully plan the startup of their business ventures and help them properly execute these plans. Make them a part of your business startup team to help give your business the best possible chance of success.

Common Business Startup Questions

When a person decides to form a business, there are certain questions that must be answered. These questions will determine the next steps the entrepreneur must take in order to make the business a viable reality. These questions include:

There are advantages and disadvantages to forming an LLC, a partnership, or a corporation (for example). A business formation lawyer can assist you in reviewing these strengths and weaknesses and help you decide which business entity is right for your goals and situation.
A hallmark of a successful business is a solid and well-defined document spelling out how the business is to operate. For a corporation, this document may be the business’s articles of incorporation; for other entities, the document may be referred to by a different name. Regardless of the term used to describe it, however, its purpose is the same: to inform others involved with the business how they can expect the business to conduct itself on a routine basis. A business formation attorney can draft these and other important operating agreements to ensure those on your team know their role and how their jobs and duties fit into the “bigger picture” of the business’s operations.
Your business may need startup capital, real and personal assets, and/or inventory acquired from other sources before it is ready to operate. Because there may not be an existing corporation or other entity at the time you enter into these contracts, steps may need to be taken in order to protect your own personal interests once the business is up and running. An experienced business startup lawyer will have the resources to assist you in locating the assets you need to begin operations and can help shift the legal responsibilities for these obligations to the business once it is operational.
Any business entity will need to pay its obligations and liabilities, including its tax liabilities. As part of the formation process, your business startup attorney will discuss with you the various tax implications of the various forms of business entities as well as what state reporting requirements you must meet in order to continue operating.

Related practice areas

Buy And Sell Agreements
Memphis Buy And Sell Agreements Lawyer When you start a business, you do not immediately think about events that can...
Commercial Contract Drafting
Memphis Commercial Contract Drafting Attorney Contracts are the lifeblood of commerce. Whether you are an individual or a business, contracts...
Corporate Dissolution
Nothing lasts forever. This includes businesses and corporations that at some point in time will, for whatever reason, decide to...
Limited Liability companies
Memphis LLC Formation Attorney A limited liability company (abbreviated as LLC) is a recently-developed business entity that is designed to...
Partnership Disputes
Memphis Partnership Dispute Lawyer The stress of business operations can create fractures or divisions in even the strongest of friendships....
Partnerships
Memphis Partnerships Lawyer In its most basic form, a partnership exists in a situation in which two or more people...

Case Evaluation

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

In need of immediate legal assistance?

2023 LAW FIRM 500 WINNING FIRM

We are proud to announce that Douglass & Runger, PLLC has been honored by Law Firm 500 as the 14th fastest growing law firm in the nation for 2023. This prestigious accolade is a testament to our unwavering commitment to our clients in the domains of family law, probate, and estate planning over the past three years.

Our success story is woven from the tireless efforts of our dedicated team, who consistently go above and beyond to make a difference every single day. Leading and evolving our firm over the years has been a challenging yet exhilarating journey. In 2021, we made the bold decision to completely revamp our practice, recognizing that the methods which served our clients in the past needed to evolve. While these changes were accompanied by a myriad of emotions and significant investments, the outcome has been nothing short of remarkable, marked by immense growth and an enhanced capacity to serve our clients.

Case Evaluation

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.