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Business Entity Formation in Duplin County

Choosing the Right Legal Entity

One of the most impactful decisions you can make during the formation of your business entity is the type of legal entity you select. As you establish a business enterprise, you will need to take into consideration the effects of all types of business organizations that exist as options for your company. At Hunter & Price, P.A., we offer concise guidance to entrepreneurs who are preparing to form a business. Schedule a free case evaluation with one of our Duplin County business & commercial law attorneys to discuss the governance of your operation. We can help you make the right choice for your business' future success

We recognize that every business is unique and each of our clients has various goals that must be met. With a focus on these goals, we can help you select the right business entity options. Benefits and downsides exist with each entity choice, so it is important to consult an attorney to help you weigh these pros and cons for your business. Consider such aspects of these options as those listed below:

Sole Proprietorship
Sole proprietorships are held by individuals who personally own an unincorporated business. This is the simplest structure that can be selected for the start of a business. The sole proprietor is entitled to all profits and is personally responsible for all debts and losses.

General Partnership
Joint businesses that are entered into for monetary profit are considered general partnerships. Both general partners share liability for debts and share the profits. Individuals entering into a general partnership will share liability and risk associated with the business.

Limited Liability Partnership
General partnerships in which each individual partner is protected against personal liability for specific partnership risks is called a limited liability partnership. Limited liability partners are not permitted to participate in general management and operations of the company unless they are considered general partners under the law.

Limited Liability Company
Limited liability companies are a new business form. Owners of the limited liability company are both members and shareholders of the corporation. Typically, this type of business formation is managed by two or more members.

Formalities of Business Entity Formation

Each business entity contains specific guidelines for the formation of a business. No matter what entity you select, we can help you meet all legal requirements. With a close evaluation of your case, we can help you select the right type of company for your specific needs. Our assistance includes fulfillment of all steps including financing, filing paperwork, and contract drafting. Starting a new business in North Carolina can be a confusing and aggravating process. During this exciting time, however, we can provide you with the resources necessary to form a business entity. Schedule a free case evaluation with our firm to get started. Contact us today!

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

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Hunter & Price, P.A. - Duplin County Attorney
Located at 211 South Main St. Kenansville, NC 28349. View Map
Phone: (888) 721-2338 | Local Phone: (910) 863-1370| Alt. Phone (910) 296-9838
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