Formation and Registration of Entities - Corporations, Limited Liability Companies, Partnerships, Joint Ventures, Sole Proprietorships

WYR attorneys are experienced in the organization, filing and registration, and preliminary planning for all types of businesses. Whether a corporation (subchapter C or S), limited liability company, partnership, limited partnership, limited liability partnership, joint venture, or sole proprietorship is the appropriate business entity or asset protection planning vehicle, WYR views this as a critical first step. The attorneys of WYR can highlight the benefits and drawbacks of each to aid your decision along with guidance from your accountant.

Once you choose a name and entity type, WYR attorneys will draft and file the necessary paperwork with the Michigan Department of Energy, Labor & Economic Growth or county clerk as soon as possible. If appropriate, WYR will register your entity with the IRS, Michigan Department of Treasury and local government and agencies.

After the initial filings, WYR will discuss and draft further organizational documents for your entity's corporate governance. For corporations, initial meeting minutes and bylaws will be drafted and stock certificates will be created, if desired. The WYR attorneys are also skilled at drafting shareholder agreements. For LLCs and partnerships, an operating or partnership agreement will be drafted. These agreements and bylaws are crucial because they address the roles and powers of the board of directors, officers, managers or partners, their liabilities and rights to reimbursement from the entity, distributions of profits and losses, stakeholder buy-outs and retirement, alternative dispute resolution, and liquidation and sale of the entity. Like shareholder agreements, they may also restrict the sales of interests in the business to keep the partners close-knit or within a family.

These matters are important business decisions that WYR attorneys are skilled in discussing, negotiating, reviewing and drafting for your business. WYR's inspired, practical, and efficient counsel can also help you and your business with: