Entity Formation & Governance

Overview People in this Area

Helping You to Make Critical Decisions about Structuring Your Business

Parsons Behle & Latimer’s attorneys form several hundred companies each year.

Determining the form in which you do business is of critical importance. Understanding the tax consequences of selecting a particular form of entity as well as the relative flexibility of alternative forms of doing business are vital considerations that clients must consider as they structure new businesses. Parsons Behle & Latimer’s attorneys have years of experience in advising clients on these issues. We have lectured and written extensively on the legal and practical issues that must be taken into account when selecting a form of entity.

Over the last decade, the law has undergone significant changes in an effort to create flexibility in how business entities are structured. Additionally, there have been substantial developments in how courts interpret and enforce the duties of directors or managers of an entity. We regularly advise our clients on these developments in the law. We have substantial experience in drafting shareholder agreements for corporations and operating agreements for limited liability companies. These agreements address our clients' requirements for allocations of income and distributions; unique forms of ownership, such as profit interests in limited liability companies; and for flexible management structures defining the duties of owners and management to one another.