Legal Business Formation
Legal Business Formation
Ecom 361 provides legal services for business success, whether you are a first-time owner ready to launch your business or an established company looking to expand into Colorado. We can recommend the best legal entity and draft contracts for your business goals and partners.
Corporate Formation for Businesses
Our legal team looks at your goals and the structure of your business to find the best legal entity for you. The right business entity can maximize profits and protect you from liability. We prepare and file your business documents with the state so you can get back to growing your business. Here are different business entities we can assist with:
Limited Liability Company (LLC)
A limited liability company (LLC) is a legal entity that offers reduced liability for business owners and flexible profit-sharing options. Business owners can decide how to divide profits and how to reinvest in their company. LLC owners can report profits on their individual tax returns rather than corporate tax returns, preventing double taxation.
Corporation
A corporation is a legal organization formed by filing the Articles of Incorporation with the Secretary of State. The corporation is entirely separate from its founders, so there are fewer ways a creditor or injured person can sue you personally. A board of directors selects the strategy and managers of the corporation. Federal and state authorities impose separate tax procedures on corporations.
Benefit corporation
A recent development in business law is the Benefit Corporation, or B-Corp. They follow similar rules as traditional corporations, but the B-Corp is specifically allowed to use its profit for a charitable or community purpose. For example, a B-Corp might donate to a charitable cause, invest significant revenue back into employee enrichment, or use less-profitable business practices to remain environmentally friendly.
Limited partnership (LP)
A limited partnership consists of general partners that run the business and limited partners who function as co-owners or investors in a business. The limited partners enjoy protection from the debts and lawsuits of the business, but do not exert control over the business.
General partnership
Two or more people form a general partnership when they operate a business together but have no other business structure. A general partnership can occur even if the business owners did not write anything down. But, a general partnership can have written agreement and a business structure by registering with the Secretary of State, and can reduce some personal liability of the partners.
Sole proprietorship
The sole proprietorship is a business that registers with the state and declares a business name, but has little financial protection for the owner. They are simple, cheap to begin, and can be a good fit for a side business. A sole proprietorship can be the first step to doing business under a business name, obtaining insurance coverage, and meeting your tax obligations.
Contract Drafting and Enforcement
Your business contracts protect you from potential disputes that could cost you money and time. Through specific language, you can prevent conflict and confusion from the beginning. We prepare detailed agreements for you, including employment contacts, confidentiality contracts, sales agreements, lease agreements, or intellectual property licenses. We can help you pursue your legal options for contract disputes, including arbitration, mediation, and lawsuit.