Business Formation & Planning

Park Ridge Business Formation and Planning Attorneys

At John J. Pembroke & Associates, LLC, our lawyers do business formation and planning for entrepreneurs and wealthy individuals in suburban Chicago, as well as business owners who want to create a separate legal entity for a new enterprise.

The first decision anyone faces when they start a business venture is whether they want to operate the business within a limited liability entity. Most people do. If you don't, you will have unlimited liability and all of your personal assets including your savings and your house will be exposed to whatever comes your way from your business activities.

There are four different kinds of limited liability entities:

• Limited Liability Partnership (LLP)
• Limited Liability Company (LLC)
• S Corporations, which are corporation taxed as a flow-through entity similar to a partnership.
• C Corporations, which is taxed as a separate entity.

Our business lawyers will help you evaluate the different types of entities and select the entity that is best for your needs. Our fee for forming your business entity is $750 plus the out-of-pocket expenses. Our services include registering your business with the various taxing authorities. Annually, our firm charges $150 to keep your entity qualified to do business in Illinois and up-to-speed in terms of limited liability under common law.

The financial strengths of our firm add an important dimension to our work in the formation of new businesses. Firm founder John Pembroke is a certified public accountant and has acted as interim chief financial officer for startup businesses. We often serve as general counsel for our small business clients, handing the firm's corporate annual report and other legal transactional services they may need from time to time.

With our income tax and estate planning background, our business law firm can help with a broad spectrum of financial matters of importance to business owners, including business succession planning, divorce and prenuptial agreements, personal financial planning, bankruptcy and the rights of creditors in bankruptcy, and income tax returns and tax controversies.

We also provide commercial litigation services when business disputes end up in court.

We invite you to contact business attorney John Pembroke to schedule a consultation.