Frequently Asked Questions

I have a new business. I need advice on deciding whether to form an LLC OR a corporation.

Generally speaking, if you are seeking outside funding from investors (e.g., a tech startup), then you may want to form a Delaware C corporation because they are preferred by venture capital investors. If you are forming a service-based business that you want to keep “in the family”, you may want to form an LLC.

Forming LLCs and incorporating a corporation often come with different costs, especially in New York. LLCs in New York must be published in two periodicals (a daily and a weekly) for six weeks, while New York corporations do not have this requirement.

I am a consultant considering branching off on my own. What do i need to know?

Typically, with consultants, you want to make sure that you are not in breach of any post-employment obligations with your former employer. (You may be subject to a non-compete, non-solicit, or other restrictive covenant.)

Then, you will want to form an entity such as an LLC and obtain the appropriate business licenses, if any. Once you form the LLC, you can open a business bank account.

Next, you will want to enter into a consulting agreement with your clients. Once you hire additional employees/contractors, you will want to reach out to your attorney to ensure that the employment agreement/independent contractor agreement is consistent with your consulting agreement.

should i have an attorney draft a services agreement for my business or should i use my client’s agreement?

We typically recommend using your company’s own template agreements instead of your client’s agreement. The client’s agreement will likely be protective of the client’s business and your business may be exposed to unnecessary liability.

How Do I protect my personal assets from my business’ liabilities?

While we can’t speak to estates and trusts law, generally speaking, you can protect your personal assets from your business’ liabilities in three ways. First, carry the appropriate amount and type of insurance such as errors and omissions insurance and cyber insurance. Second, form an entity for your business such as an LLC and ensure the business is adequately capitalized. Do not commingle personal funds with your business’ funds. Third, enter into appropriate legal agreements in all of your business relationships.

do you practice family law or immigration law?

Unfortunately, no. We can refer you to immigration attorneys, but for family lawyers, please reach out to your local bar association.

can we meet in person at your office?

We no longer offer in-person meetings. We may be able to offer Zoom meetings, but we prefer phone calls and teleconference calls.

i have never worked with a lawyer before. what does the process of hiring an attorney look like?

Typically, you will sign an engagement letter with the law firm and make a retainer payment. The engagement letter will spell out the terms of the engagement, including the scope of work and what happens when an engagement concludes or terminates.

What is a retainer?

A retainer is an advance payment made to the law firm that may be applied to the client’s final invoice.

How do we get started?

Set up a time for an intro call using our Calendly link below!