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Business formation and planning in New Jersey

Last week, this blog discussed some reasons why an individual might want to start a business in their 20s or 30s. However, for those with an innovative idea, a life passion or a dream, starting your own business at any age can be a satisfying endeavor.

Nonetheless, there are many legal aspects that it takes to establish a business in New Jersey. For example, you have to decide what business is right for the business. Will it be a corporation, a limited liability company, a partnership or a sole proprietorship? An attorney can help decide what business type is most appropriate for the businesses' needs and can help draft and file the necessary legal paperwork to make business dreams a reality.

Moreover, potential business owners need to decide how they will structure their business. They need to decide how ownership will work if it is a joint venture and how many employees they will retain. Along with this comes the need to create employment agreements, contracts and other types of documents. An attorney can help make sure these documents are legally sound.

As one can see, starting a new business is more than simply leasing a building and putting a sign out front. There is a lot behind the scenes legal work that must be accomplished to protect the interests of the business and its owner to ensure the business can grow and thrive.

Attorney Brian Donnelly is familiar with business law issues, and has helped clients plan, manage and grow their businesses. The following information on a business start up may give readers an idea of what issues they face before starting their own business.

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