Raleigh Business Formation Attorney

Business Formation Lawyer in Raleigh, North Carolina

Forming a business entity in Raleigh can be very exciting, but it is important that it not be done haphazardly. Whether you are creating a corporation, a partnership or a sole proprietorship in Raleigh or a surrounding area, it is imperative to know and understand all of the options available and the legal consequences of each. At Hopper Law firm, our business law attorneys know exactly what is involved in business formation in Raleigh and can help guide you through the process.

The Business Formation Process

A sole proprietorship is a business that is made up of a single individual seeking to generate a profit. A sole proprietorship structure may have one or more employees, separate bank accounts, and operate under a business name.

A partnership, as defined by the North Carolina Uniform Partnership Act, is an association of two or more persons to carry on a business as co-owners for profit and for legal purposes. Partnerships require no formalities or partnership agreements except when the contract or agreement cannot be completed in one year. A partnership can be terminated or dissolved per:

• Partnership agreement dissolution date.
• Partnership agreement gives one party the unilateral authority to terminate the partnership.
• Agreement or the mutual assent of all partners.

Generally, business partners in a partnership have joint and several liability, meaning one partner may have to pay the full amount owed even though all the partners are liable. The partnership is liable for claims that arise out of contracts or torts that are made in the scope of the partnership and in the course of partnership business.

Because Business Formation can be complicated, you should have a qualified and experienced Raleigh business law attorney to help you during the process. Having a lawyer to look out for your best interests will ensure the protection of your rights and will make sure you are not taken advantage of in the future because of a flawed business agreement.

Contact a Raleigh Business Law Attorney at Hopper Law Firm today regarding your business formation!