Hattiesburg Business Organization Lawyers
Investors who choose to do business in Mississippi create jobs and growth, and our state offers several legal options to encourage this sort of investment by permitting limited liability for business obligations.
At Perry W. Phillips, PLLC, Attorneys at Law, we have helped countless businesses through the process of formation, organization and adoption of important business agreements. Contact us to schedule a free initial consultation with one of our experienced Hattiesburg-area lawyers.
Putting Key Business Structures in Place
If you are running a business, there are important benefits that can be recognized when you formally organize your business with the state. Several business formation options offer limited liability, which means that owners are not personally liable for business debts beyond the amount of money they have chosen to invest in the business. This can be particularly useful in the event your business goes under or you are involved in any business litigation.
- A corporation is a business entity that is owned by one or more shareholders and governed by directors, who may or may not be the same people. We help businesses incorporate by drafting articles of incorporation, bylaws, organizational minutes and other organizational documents.
- A limited liability company (LLC) is a flexible business form combining aspects of a corporation with aspects of a partnership. Like a corporation, an LLC has limited liability. However, the IRS treats LLCs differently, and there are some other differences under Mississippi law. We draft operating agreements and other organizational documents for LLCs.
These days, most of our clients choose to adopt the LLC form once we explain the differences, but many still prefer incorporation. We have extensive experience with both options, as well as partnerships and close corporations.
Providing a Range of Business Law Services
Beyond the formation of your business, we can help you with other business planning issues such as the drafting of buy-sell agreements, purchase agreements and other contracts. When you need business law help, don’t hesitate to contact Perry W. Phillips, PLLC. Contact us online, or call 601-620-4715.