K E L S E Y &  T R A S K, P.C.
attorneys at law
 

Starting A Business - Boston, Framingham & Worcester

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Below we have provided answers to many of the common questions that we are asked by our clients involved in starting a business. If you would like more information please do not hesitate to call us at 508.655.5980 or e-mail us.

Do I need a lawyer to form my business?

There is more to starting a business than filling out the proper forms, obtaining the proper licenses, and filing the various documents with the appropriate State agencies. Starting a business involves inspiration, perspiration, and most importantly, planning. Kelsey & Trask, P.C. goes above and beyond to assist you in the planning and development of your new business - not just helping you fill out the right forms. We will help you plan for the best and the worst, so you will be protected no matter what the rough and tumble world of business throws at you. We have experience in the creation of business organizations, and we are business owners ourselves, so we understand the needs of both a new and growing business. We value the relationships we form with our small business clients, and want to be there for all your ongoing business needs, including collections, contract preparation, resolution of business disputes and litigation.

Is there a risk to my assets because I am starting a business?

If you own a business or want to own a business, you should be aware of the danger that owning a business presents to your personal assets. According to the U.S. Small Business Organization, about half of all small businesses fail within the first five years. If your business is sued and you have not properly protected yourself by setting up the appropriate business entities and maintaining them correctly, then all of your personal assets might be at risk. Kelsey & Trask, P.C. will review your goals, assets and risks, and advise you on the appropriate choice of business entity that is best for you and your small business. We will take the time to explain the difference between each form of ownership and the advantages and disadvantages to each, whether it be a simple sole proprietorship, simple partnership, Limited Liability Company (LLC), S-Corporation, C-Corporation, or Limited Partnership.

If you already have your business formed, we may still be able to provide advice to you on the proper way to form contracts, maintain accounts, create networking relationships, manage problem vendors, and deal with delinquent customers. Managing your business well is the best way to avoid becoming involved in litigation, and to limit any liability relating to your personal assets.



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