Corporations & LLCs
We work with founders, owners and managers on the creation, organization and operation of business entities from their inception to the next generation.
Structure. The best form for doing business is an issue at the start, as well as throughout the life, of a business enterprise. Thus, at the outset, we help make sense of the business form options, whether unincorporated business, sole proprietorship, “S,” “C” or “professional” corporation, partnership, limited partnership, limited liability partnership or LLP or limited liability company or LLC. Similarly, we help evaluate related subsidiary and domicile considerations. Then, periodically we assist clients in restructuring their organizations to reflect growth and change in their development.
Formation and Maintenance. After the initial or new business form is selected, we help establish new entities through the preparation of appropriate documentation and filing of appropriate registrations. Because the formation of an entity is intended in part to shield owners, directors, officers and managers from personal liability for business activities, we assist entities in following the legal requirements to properly maintain their status, such as the filing of annual reports and preparation of corporate minutes.
Capitalization. Any business needs funds and other assets from time to time as it undertakes new projects and its sales or profitability fluctuates. Likewise, a profitable business may distribute earnings to its owners periodically. Accordingly, we assist in the legal steps of raising capital, borrowing money and issuing dividends. For example, we assist in the negotiation of stock purchase and loan agreements.
Governance and Control. For any business that has more than one owner, an important issue is managing relationships between key shareholders, members or partners, including for issues such as the sale of equity interests to third parties, election of directors and making of major strategic decisions. We work with businesses to put into place appropriate governance and control mechanisms, such as in a shareholder agreement, articles of incorporation and by-laws.
Succession. For closely or privately held businesses, the fate of the enterprise when founders, key managers and owners approach retirement or new directions is of great import. We work with owners and managers to develop succession and transition plans, taking into account liquidity, continuity, tax and generational concerns.
The attorneys and lawyers of Jeremy A. Gibson & Associates, P.C. are experienced in handling corporate and finance matters throughout the United States, including the Chicago, Illinois area. Please see our Experience page or contact us.