Bucks County and Philadelphia Business & Commercial Law Attorney

Putting and Keeping your Business on a Sound Foundation

Starting or expanding a business brings both new opportunities and increased risk. At the Olen Law Office, we form ongoing, consultative relationships with clients seeking to start or expand their businesses; because we take the time to understand and implement your needs as we ascertain them.

In consultation with financial planners, accountants and tax experts, attorney Elliot Mark Olen can help you choose a form of entity, considering its advantages and of each. he can protect capital investment from creditors by structuring security that can offset associated financial risks.

Prevent problems before they arise. Work with a business attorney who has more than 30 years of business experience, from start-up to multi-generational businesses. Based in the Oxford Valley area of Fairless Hills, Bucks county, we work with businesses across Bucks and throughout Philadelphia and Montgomery County. In fact we have on many occasions done so for businesses far away, even another state (California to the Eastern Seaboard). We have even helped clients from many of the United States; and Canada, N. Ireland, Russia and S. America.

Business Organization: The Issues to Consider

When choosing an appropriate business entity for your business, your attorney will advise you on the related issues of liability (risk) and taxation (cost):

  • Liability: In general, there is a direct relationship between the amount of control you, as an owner, exercise over your business and the amount of liability (risk) you accept. The more direct control you have over operations, the more financial and legal liability you have should the business fail. If you establish your business as a limited liability entity (LLC, LP corporation), you face much less personal risk should malfeasance or mismanagement occur. An LLC offers similar protections as other limited liability entities at a lower cost and with less complexity.
  • Taxation: Different types of business entities are subject to different types of taxes to multiple government departments. But it's not as simple as choosing the business structure with the lowest tax burden. Liability, insurance, cash flow, IP protection, protection from departing personnel and indemnification issues must also be considered; these interrelate with tax issues. Mr. Olen will evaluate your current situation and long-term goals to determine what works best for you.

Same-day online filing for incorporation and business registration is available.

Business Formation

Our business law attorney can assist you with every aspect of setting up and growing your new business:

  • We can advise you on the types of business entities available and how they meet your specific goals.
  • We can explain your exposure to financial and other potential legal liability for the type of business you will operate; how you could have personal exposure; and how to protect against exposure and liability. Insurance is not enough.
  • We will prepare all governing and operating documents you need. Whether simply establishing a business, arranging for new "partners", providing "buy/sell" agreements, preparing your internal legal documents, or agreements with your initial personnel/customers/vendors.

In addition, we can help you plan for the many legal and practical hurdles your company can expect to face in its initial stages. Whether we are proactively preventing issues from arising or finding economical solutions to existing problems, you can count on us to position your company for success.

Do not wait until you hit a snag, productivity milestone or your business has grown "large enough." Do not wait for a death, disability, defection or falling out before preparing yourself. Doing it as early as possible is cost and time efficient. It is crucial that you get a lawyer involved as early as possible, while all options are in play. See the list of agreements we typically provide for business. Those and more esoteric ones are available. And we cover all the related issues (like site terms, contract negotiation, asset protection, management structuring, IP rights). So whether it is an arrangement for screening and hiring workers, developing preferred suppliers and customers, or even your Real Estate or personal estate planning needs, we can help. Remember, the simplest way to resolve disputes in the future is to prepare for them now.

Start Off On The Right Foot

If you have further questions regarding business formation, contract drafting and startups, we encourage you to schedule a consultation at the Olen Law Office. We can be reached by calling 215-943-5343 or by completing our online contact form. To better suit your needs, we are able to conduct business online and we accept all major credit cards.