Philadelphia, Pennsylvania Business Formation Lawyers
A solid legal foundation is important for any new business. At the Timoney Knox law firm, our business attorneys have the skills and knowledge to advise you about the choices you have in establishing your new business.
Fort Washington: 215.392.4217
Lancaster: 717.207.7971
Mount Carmel: 570.339.4589
Lawyers at Timoney Knox have represented businesses in the Philadelphia area for more than 80 years. Laws have changed in that time, but our commitment to service remains as strong as ever.
Choose the entity right for you. One of the first decisions you need to make for a new business is determining what type of entity will best suit your ownership, capitalization and long-term objectives. Types of business entities include:
- Sole proprietorship
- General partnership (GP)
- Limited partnership (LP)
- Limited liability partnership (LLP)
- Limited liability company (LLC)
- Corporation (subchapter "S" or "C")
Tax planning begins now. The business entity you select will have tax implications. Make sure you understand the tax implications before you make your final choice. Timoney Knox has a well-deserved reputation for effective tax planning.
Define business relationships at the start. Documents need to be in place to determine relationships among partners, with shareholders and with employees. How will matters be resolved going forward? What are the rights and responsibilities of officers and directors? Talk to an experienced business lawyer about crafting by-laws and determining the delegation of power.
As your business grows, changes and expands, Timoney Knox attorneys will be available to help you with all the legal issues involved. Our lawyers have been advising businesses in the Philadelphia area since 1926.
