Start a New Business and a New Relationship

Form an LLC or Corporation – get the right advice at reasonable rates

Let Penbay Law’s business planning attorneys be your business counsel

Partners', Shareholders' and Member's Agreements

Avoid costly disagreements down the line. Business and Commercial lawyers in Camden Maine draft operating agreements for LLCs, Partnerships and Corporations. When you form your business you should be thinking about maintaining it, and one day selling or retiring.

Business Entity Formation and Business Advice

Penbay Law are Camden Maine Attorneys With Business Experience

Experienced local service at competitive rates.

Form LLC or Form a Corporation in Maine

Form LLC or Form a Corporation in Maine

Attorney Jesse Bifulco

Jesse Bifulco has not only helped entrepreneurs start, maintain and sell their businesses, he has been a business owner and entrepreneur as well. Penbaylaw business planning attorneys have over thirty years of combined experience in forming corporations, subchapter s corps and LLCs for their clients. It is important to know the legal implications when choosing a business form. All businesses encounter issues that can be costly without timely affordable legal advice. When you choose our firm to form your business, you are starting your relationship with local counsel.
Forming a corporation, an s corporation or a limited liability company is an exciting time. The American entrepreneurial spirit is alive and well in Maine. Part of the formula for success is choosing the appropriate business form. While the formal requirements for the formation of a corporation or an LLC in the state of Maine are not onerous or complex, their relative simplicity belies the real value to the business person. The business formation stage is an excellent time to do planning and gain knowledge.
The formation of a business entity is a great opportunity to plan for the future of the business. In order to experience the best chance of success, the business formation stage should be used as a time to take stock and imagine what legal issues might arise in the near term, midterm and long term future of the business.

What Should Every Business Owner Know About Business Formation in Maine

Every business owner should learn at the formation stage the tax and liability consequences of the different business forms. It is important to choose the appropriate form. What if a business chooses not to incorporate? It is very important to know what the law expects of sole proprietors. Also, if you’re doing business with someone else, does the law consider you to be partners? Can your partner bind you to a lease or a utility bill without you’re consent? Where there are more than one principal or owner of a small company, their understandings of their rights and obligations both to the company and to each other might not be the same. Many a great idea has failed because the partners did not discuss and put in writing their expectations for the sharing of work, investment, profit, loss, and succession of their interests in a new business venture.

What Should Partners Know About Business Formation in Maine

Generally the business formation stage is a time when there is some room for consideration of these issues. Once the business begins to take off, the issues of day to day management and execution of the real work of the company will make it difficult to have those discussions. The best time to consider the issues of ownership, and owners’ rights as well as their obligations to the company, and perhaps, the last opportunity before a potential disagreement, is at the business formation stage. Whether you’re starting a real estate management company, a real estate investment trust, capitalizing, building and marketing a new invention or product, or opening a retail store, the issues of ownership, investment, management rights and succession should be discussed and put in writing at the outset.

While many entrepreneurs are familiar with the nitty gritty of the day to day operation of a business, many are not. When a business person forms an LLC or forms a corporation in Maine with local lawyers, they can obtain essential information and form a relationship. Especially new business owners, who may have a wealth of experience in their field, and a fantastic idea, but don’t know how to file the appropriate taxes or apply for the appropriate licenses. They may never have had to hire employees. While it is essential to have an idea of the necessity and to address these issues, especially in the small business arena, it is efficient to delegate many of these chores so that the principals can focus on succeeding at what they starting their business to do in the first place.

Form LLC or Form a Corporation in Maine with local attorneys, form of a Corporation in the state of Maine, form an S Corporation in the state of Maine, draft a Shareholders Agreements, draft an Operating Agreement, draft Bylaws, draft Partnership Agreements, apply for for EIN or TID number

Clear & Reasonable Fees

predictable and flat fees in many matters promotes efficiency & expeditious resolution

Experience & Tradition

a law practice informed by tradition and rooted in the local community

Personal Representation

utilizing the latest technology and limiting our practice to provide personal service

Contact the law firm at 207.236.4888

to retain experienced, efficient lawyers in Camden Maine