New York Business Law: Legal Advocacy In Action

Expertise with business law in New York is more valuable than ever. It’s well
known that small to medium sized businesses especially face economic
challenges in this day and age. Business owners trying to navigate through the
uncharted waters of increasing regulation and compliance often compound these
issues.

According to Long Island business attorneys Ketover and Associates, these

issues are more paramount than ever, and they advise that New York business
owners really should integrate a maintenance legal strategy into their everyday
business operations.

Garden City business lawyer Joshua Ketover points out these issues when
discussing with clients, and his firm is very proactive with keeping their business
law clients in the forefront of avoiding issues emanating from unforeseen legal
situations.

Company Formation

According to Ketover Law, many common problems start at the outset, when a
company is formed. Potential pitfalls can be avoided with some knowledge of
basic company formation structures.
If you are considering incorporating your business as an LLC partnership, it is
imperative that you hire the services of a licensed and experienced business
attorney.  First, it is important to determine if an LLC partnership is the best
avenue for your business.  An LLC partnership, or Limited Liability Company is a
decision that should not be taken lightly. You should discuss all of your options
with your attorney to ensure that you are choosing the best avenue for your
business. 

Under a LLC partnership, the owner of the business would essentially be

protected of their personal assets being used if they were held liable for the any
expenses.  If you are a sole proprietor and someone sues your company, you
may be held personally liable for any damages awarded.  This means that your
home, accounts, and personal assets would be liable for the judgment.  With a
LLC partnership, your personal assets are protected.  This is also the case if an
employer were to go out of business.  If an employer has a company with
employees, where the employees receive a trust fund, and the company goes
out of business, under a sole proprietorship, the business owner may be held
responsible for paying employment taxes, and other insurance fees.

Since there are many aspects involved in becoming a Limited Liability Company,
it is imperative that you seek the counsel and advice of an experienced licensed
attorney to make sure that you are taking the best steps for your business.

Many attorneys will agree that a LLC Partnership offers the best and most
comprehensive legal and tax protection for a business.  It should also be realized
that even if you have an Internet or E-Commerce business, that you should
consider becoming an LLC partnership.  No matter what your business, how
many members you have, or the way your business is currently set up, you’ll find
that it is wise to meet with an attorney for a consultation.
Ketover Law handles all aspects of business law and this is an important
specialty for this Garden City New York law firm.

More information is available at http://www.ketoverlaw.com/business.html