Buying, Selling or Starting a Business in New Jersey?
New Jersey Business Law Attorney Can Help Protect Your Livelihood
Business laws protect entrepreneurs and business owners by facilitating business transactions that are efficient and fair. However, navigating business law can be complicated. Easily-overlooked errors can have a long-lasting impact on your livelihood. Furthermore, New Jersey business laws can change, rendering some simple business forms inefficient. For this reason, you should avoid a one size fits all solution. To protect your investment, contact an experienced New Jersey business law attorney.
The New Jersey lawyers at Gelman Law, LLC believe in fair practice from all parties. Unfortunately, not all transactions are examples of equality. If you have concerns about your ability to succeed, we can help. For years our firm has helped owners and investors maximize their return. Our firm’s goal is to avoid business litigation and disputes in court, which is best accomplished with careful planning. We can help you during any stage of business creation, operations, and restructuring.
How Can an Attorney Help Me with Starting a Business in New Jersey?
If you are thinking of starting a business, then you should familiarize yourself with the different types of business organizations. Ultimately, this decision depends on your goals for your company. New companies or business have procedures to complete before they are allowed to operate. It is the work of a business law attorney to create these entities for their clients.
An experienced New Jersey business law attorney will assist you in deciding on a business type. Our firm can help you draft and file all documents that are required. Some of the various business entities our firm can help you establish include:
- S Corporation: In some cases, an S Corp can offer investment opportunities with limited liability protection. S Corps file taxes yearly and are not subject to double taxation. As a rule, it can be better to form an S Corp when you are interested in tax savings.
- Limited Partnerships: Limited partnerships are preferable when you want some of the owners to act as investors only. The internal agreements that are formed at the start of a business need to be drafted by an attorney. They will govern how the business will be managed and how it will function in the future.
- Limited Liability Company: Usually, an LLC has similar tax advantages to a limited partnership. However, LLCs do not require a managing partner who bears liability for actions of their partnership.
Why Do I Need a New Jersey Attorney When Buying or Selling a Business?
A New Jersey business law attorney can help broker a fair deal when you purchase a business in New Jersey. As a rule, business transactions are complex. Thus, buying a business in New Jersey or selling a business in New Jersey can take substantial time and money. However, a New Jersey lawyer that handles business law can mitigate these costs. Our experience with New Jersey contract law has resulted in our attorneys developing effective strategies. We can review your purchase agreement to try to discover possible issues.
Attorneys are very important in these types of cases because they can help to navigate the law correctly. They can spot issues that may arise in the future because they are not emotionally invested in transactions. If you are selling a business, an attorney can establish:
- Value: When selling your business, you want to set a realistic price. This will be based on the assets of your business and goodwill. Our business law attorneys can evaluate the assets and goodwill of your business and help you arrive at a reasonable price. This is particularly important if you plan on selling your business in a particular time frame.
- Tax Liabilities: As a rule, you will want to understand the tax consequences of selling a business in New Jersey. Our attorney can help you determine what tax liability or benefit you may have. Furthermore, our firm can help you make tax returns readily available to establish due diligence to potential buyers.
Need to Protect Your Investment? Call Our Business Law Attorney Today
Are you starting, purchasing or selling a business in New Jersey? Do you have concerns about how to protect your best interests and establish real value? Ultimately, your business is your livelihood. Odds are you will go to great lengths to protect your interests. A legal issue with another business can hurt your bottom line. If your business is involved in a lawsuit, you should contact an attorney immediately. It is best to be represented by knowledgeable and experienced counsel when there is so much at stake. Our New Jersey business law attorney can help.
At Gelman Law, LLC we know how important your transactions can be. Our legal team can review documents, reports and tax information with your goals in mind. If you are creating a business, buying a business, or selling a business, you should seek legal advice. We can help review your issue, no matter the size of your operation. To schedule a free consultation, contact our firm online or call us at (856) 433-1818.