There are several advantages to incorporating your business. It establishes a power structure, provides tax flexibility, offers stock options to employees, enhances credibility, and, oftentimes, attracts more investors. However, the biggest benefit is it will limit your legal liability as the owner and offer protection for your personal assets. While it is possible for you to set up a corporation on your own, it can be a complex process, and the consequences of doing it incorrectly are costly. This is why it’s best to hire a corporate law attorney to help.

Establishing a business, in general, involves many steps and considerations. A lawyer’s advice will prove invaluable when it comes to matters concerning tax law, code compliance, intellectual property, contract regulations, and other state-defined corporate laws. When forming a corporation, one of the most important and complicated tasks you must complete is drafting corporate bylaws. These are used to outline how your corporation will be operated and how it will satisfy legal requirements. Failing to ensure compliance through the bylaws could result in a loss of corporate status, which means you would also lose your liability protection. In turn, your assets will become vulnerable. Working with a corporate law attorney will ensure all your documents are drafted properly to meet your state’s specific guidelines.

Although it can be tempting to use the do-it-yourself method to set up your corporation, this could put you at great financial risk. A corporate law attorney will help you avoid making mistakes that could be damaging to your business and cost you more in the long run. Luke A. Weiland Attorney at Law provides the residents of Wisconsin Rapids, WI, with effective counsel on a variety of legal issues. With his expertise, many clients have been able to successfully incorporate their business ventures with full peace of mind. Contact his office at (715) 422-6808, or visit his website for additional information.