Starting a business is a major life event. For many, it is a life long goal that has taken much time, effort and money to begin the process. However, in order to ensure that a business is formed properly, small and large business owners need to take certain steps to legitimize the business. This will also protect the business owner and the assets of the business.
Whether you are registering a sole proprietorship, incorporation, partnership or corporation, it is important to go through the proper and legal steps to properly form a business. At Walker Morton, LLP, our experienced attorneys understand that a lot is on the line when individuals start a business; therefore, we are dedicated to helping residents in Illinois understand the process so they can take all the necessary steps to form their business.
For those seeking to form a limited liability company or LLC, this process can be broken down into just five steps. First, you need to determine the name of your company. It must be an available name and it must also conform to the rules in the state. Next, you need to file paperwork, which is known as the Articles of Organization, and pay the necessary fees. Third, you need to draft an operating agreement that will dictate how the LLC will be run. This document typically lays out the rights and the responsibilities of all the members of the LLC. Then, you must publish you notice of intent to form an LLC. Finally, you must obtain all the licenses and permits required to run your business.
To learn more, check out our law firm's business formation & planning website. This process might seem overwhelming, but if followed properly, it could help an individual timely and efficiently form an LLC. No matter what type of business you seek to form, our skilled attorneys can break down the process into necessary steps, helping you with any issues or questions you have along the way.