Arden Law Firm   410-216-7000
Legal Answers & Representation Relevant to Your Needs!
Firm Overview      Small Business
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Small Business Solutions.

 
 
 
                                   
 

SMALL BIZ PACKAGE DEAL!
Arden Law Firm offers a comprehensive and reasonably priced small business formation package that includes the following:
 
- trade name research
- filing Articles with State
- creating Company Operating Agreement or By-laws
- obtaining federal tax ID
- setting up state tax accounts
- holding initial Organizational Meeting
- preparing Corporate / Company Record Book 
 

Affordable Legal Services for Small Biz.

  • Incorporating / Forming Corporations and Maryland Limited Liability Companies
  • Contracts Employment Contracts, Non-Competition Agreements (Covenants not to Compete), Vendor or Customer Contracts, Leases
  • Purchase / Sale of Business
    •  

Business Start-Ups

You have a fabulous idea, a great product or a skilled service to offer.  Perhaps you've always wanted to work for yourself or  you've decided to buy a franchise.  Now what?  Should you incorporate? Form a partnership?  Create a LLC?  Go solo?  How will you be taxed?  What registration do you need?  
 

 
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BUSINESS SALES / PURCHASES

 

 

Whether you are on the buying or selling end, if you are exploring a small business purchase or sale you will want to ensure that you have adequate legal representation.   The firm assists individuals and entities in purchasing or selling their business, including preparing Letters of Intent, Purchase Agreements, Negotiating purchase terms and preparing Non-Competition Agreements, other Transfer Paperwork and Attending Settlement.

In many cases, legal services for a business sale or purchase may be handled on a flat fee.   Call 410-216-7000 or email biz@elawmd.com


STEPS TO SET UP A NEW BUSINESS:
              Arden Law Firm helps clients get their new business up and running in the state of Maryland.  Typical steps in starting a new venture involve the following:
  1. Craft a business plan
  2. Determine funding source (savings, friends / family, bank business loans, investors, personal loans)
  3. Meet w/ Attorney  and Accountant; Determine best entity type based on your proposed structure, owner's goals and funding      (business options in MD include sole proprietorships, partnerships, limited partnerships, limited liability limited partnerships, corporations (Close Corporations, Professional Service Corporations, C Corporations, Subchapter S Corporations), Limited Liability Company or LLC.)
  4. Research & obtain industry specific license requirements
  5. Research / Select Trade name 
  6. Form entity / file articles
  7. Create governing documents (by-laws, operating agreement)
  8. Set up tax accounts 
  9. Make appropriate filings / registrations
  10. Hold organizational meeting(s)
  11. Create and maintain Corporate / Company Record Book
  12. Open business bank accounts
  13. Negotiate Lease (if applicable)
  14. Prepare Contracts for use in customer relationships (if appropriate)
  15. Obtain insurance
  16. Prepare Advertising Material 
                                    
STEPS TO INCORPORATE / INSULATE AN EXISTING BUSINESS:
  Existing business owners often realize the benefits of incorporating or forming a LLC after they are established in their line of work.   Typical steps to incorporate / form a LLC for an existing business include the following:
  1. Meet with attorney to determine best entity type (LLC, Corporation, Professional Corporation, etc.), to discuss business goals and industry specific license issues
  2. Form entity / file articles
  3. Create governing documents (by-laws, operating agreement)
  4. Hold organizational meeting(s)
  5. Obtain new EIN / tax accounts as appropriate 
  6. Create and maintain Corporate / Company Record Book
  7. Switch existing contracts to entity name

BUSINESS  FAQ:

Q:  What type of business offers the best liability insulation?
---  A:   Limited Liability Companies and Corporations tend to best insulate a business owner from personal liability.  Sole Proprietorships and Partnerships may offer no liability protection and may leave the business owner's personal assets open to creditors.   Potential clients can email or call to discuss how to best structure their business.  

Q:  Should I have employees or independent contractors?  
--- A:  Employees naturally incur employer charges like unemployment, workers compensation, payroll taxes and so forth.  Independent contractors pay their own taxes.   Unfortunately, you can't simply label individuals you hire to help your business as you chose.  The law (and the IRS) look at how your business is set-up and how a job is performed (so if you call someone an independent contractor when they really act like an employee your business could face trouble).  This is a very fact-specific question and is based on a number of factors.  You may want a qualified opinion or help determining how workers are classified before you hire.  

Q:  How do I register a new business in Maryland?  
--- A:   Businesses must register any trade name they operate under with the State Department of Assessments and Taxation.  If the business will operate as an entity (a corporation or LLC) that entity must be formed with appropriate Articles filed (either Articles of Organization or Articles of Incorporation).  Businesses should also set up tax accounts with both state and federal taxing authorities.   Industry specific licensure requirements must be followed (for instance, a barber will need a barber's license, a daycare will need a daycare license and so forth) -- regulated professions must be registered with the appropriate state board for that profession.  Depending on the type of business, there may be additional county licensure / registration (for instance, a retailer will need a vendor's license, a home based business may need to register with the county as a home-based business and so forth).