Are you starting a new business startup in San Diego or Southern California? What corporate entity should your new company select? Why is it valuable and cost-effective to work with the business formation attorneys at the Watkins Firm versus trying to do everything yourself?
The Selection of Your Corporate Entity
One of the most important decisions when starting a new company is the selection of the appropriate business entity. Your corporate entity isn’t just some name you’ll conduct business under. It is an important shield which separates your personal monies and assets from any debts or liabilities which arise during the conduct of business over the coming months and years. The reasons to protect your personal funds and assets from business debts should be obvious, but this is especially true when there will be more than one owner, member or shareholder.
Your personal assets and liabilities should be totally separate from your business assets and liabilities. In fact, commingling business and personal funds or assets can be a serious issue and could cause a serious internal dispute or vulnerability to business creditors.
Financial and legal liabilities are unfortunately an issue for any successful company. Business disputes aren’t a matter of “if,” they are a matter of “when.” How you structure your new business startup in San Diego from the outset will make a substantial difference in the protections of the corporate veil you’ll need down the road.
The primary entity options in California are primarily:
- Limited Liability Corporation or LLC
- S-Corporation
- C-Corporation
- Professional Corporation or PC
- Management Service Organization or MSO
Each entity is designed to provide to facilitate specific types of business while providing specific operational and even tax advantages.
Corporate Documents for Your New Business Startup in San Diego and Southern California
The experienced business attorneys at the Watkins Firm are prepared to guide you through the process. One of the most important steps for any new business startup in San Diego and Southern California is to ensure that your new corporate documents position you (and any partners or investors) for the greatest opportunity for success.
Most young or new entrepreneurs do not understand or value the perspective a seasoned attorney will contribute. We are like a coach. Every professional athlete has a coach, and you should have a trusted advisor to guide you through this important time. We are not here to drain your resources. We understand that most new companies are bootstrapped – formed out of the personal resources of their owners.
Money is tight, and we understand that. We invite you to a conversation. If you are considering a new business startup in San Diego or Southern California we invite you to call us for a free and substantive consultation at (858) 535-1511.
We will provide insight based upon more than four decades of service to the San Diego business community. It won’t cost you anything. Learn about our experience in your industry and how we can help you to benefit from the experience of others. We will draft a game plan, provide solid insight into each corporate structure and develop a budget you can afford before you ever invest a cent.
We invite you to listen to our Podcast Episode 2 – Starting a Business, review the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today. Learn about the substantial amount of time and money we can save you while providing valuable insight into your new venture.
