What Type of Organization is best for your Business?

The way your company is organized can have a lasting impact on how you do business.  A wide variety of organizational structures are available from which to choose:

  • Sole proprietorship
  • Partnership
  • Limited partnership (LP)
  • Limited liability partnership (LLP)
  • Limited liability limited partnership (LLLP)
  • C-type corporation
  • S-type corporation
  • Member-managed limited liability company (LLC)
  • Manager-managed limited liability company (LLC)

The sheer number can seem overwhelming for a businessperson just starting out.  It can be tempting to generalize and say one type of organization is superior to the others.  But the fact of the matter is that every business is different and every organizational structure has advantages and disadvantages.

For example, a small company in a line of business where there is little risk of liability may be best suited to the sole proprietorship or partnership model.  A larger family business may prefer the LLC model to keep ownership within the family.  For a venture where financial backers do not want an active role in management, the LP or LLLP model may work best.

Businesses are as varied as the people who start them.  If you have the vision and dedication to turn your business idea into a success, our business lawyers have the knowledge and experience to help you get your business started strong.  A Chicago business law attorney with Shipley Law Group can review your business plan and determine what structure is best suited for your company based on your line of business, your financial backers, and any other factors that come into play.  Our attorneys draft comprehensive partnership agreements, articles of incorporation and organization, bylaws, and other crucial documents that are essential to the internal stability of your company.  A Chicago business lawyer from Shipley Law Group can be a valued partner for the life of your business.

Legal solutions for Chicago's future with Shipley Law Group

Our clients trust us to make legal sense out of every business process, from Chicago's Loop to emerging business capitals throughout the state of Illinois .  Write, call, or visit us for legal consultation that steers you clear from legal confrontation.

Contact our Chicago, Illinois attorneys

Contact us by using our online email form, or by calling 312-527-4545, or toll free at 888-493-8574 , or travel to our Chicago Loop office—135 South LaSalle Street, Suite 2100, Chicago, Illinois 60603-1802.  For immediate attention, email partner and founder Robert A. Shipley, Esq.