An enforceable system of business laws is a necessary prerequisite to a properly functioning market economy.
Business law deals with the formation of new businesses and the matters that arise as existing businesses interact with their customers, suppliers, vendors, agents, employees and the government. Business law involves many legal fields, including contract, intellectual property, real estate, sales, employment, bankruptcy, and others.
P5 Legal specializes in transactional work for businesses and individuals.
Business Formation and Internal Agreements
New companies must take steps to comply with the law before opening their doors for the first time. P5 Legal is routinely asked to form new entities on behalf of its clients. Clients may also need assistance choosing the business entity best suited for their enterprise.
Businesses can be formed as sole proprietorships, corporations, limited liability companies (LLCs), partnerships, and other entities. Most of these business forms can be further customized to meet the needs of the company. Examples include corporations formed as “S-corps” in order to achieve tax savings, and limited liability company's formed with some members receiving current income or tiered memberships to allow some owners to participate as investors only.
P5 Legal also drafts the internal agreements that will control how a new or existing company is managed. A common example is an LLC operating agreement. This document should be drafted with care, as it governs how the company’s owners will share profits and losses, make important business decisions, and transfer their ownership rights.
P5 Legal can provide valuable insight and legal expertise into a complicated transaction, not only because of legal training, but also because of the objective nature of our analysis.