Choosing the Best Vehicle to Drive Your Alabama Business Forward
Of the many business forms to choose from, the limited liability company (LLC) has proven to be one of the most popular forms of organization since its creation. The owners of an LLC are called “members.” The LLC limits the liability of these members to the dollar amount of their investment in the company. For example, if a person operating a sole proprietorship accidentally caused an injury, she could be held personally liable and lose everything she owns. On the other hand, a person who forms an LLC would be liable only up to the amount they put in the LLC. Decision-making structures in LLC’s take different forms; some choose to vest authority solely with the members, while others split some of the decision-making authority with management. In smaller LLC’s, one person often serves the dual roles of member and manager.
Forming an LLC with the assistance of our Dothan legal team at Parkman White, LLP is a straight-forward process. We can help you file your articles of incorporation with the secretary of state. This is a non-public operating agreement that details rights, obligations, and duties of managers and members. If you are considering forming a business organization and need help choosing the vehicle that best fits your unique needs or drafting the agreement in a way that best protects your personal interests, the Houston County probate attorneys of Parkman White, LLP can help. Call our Dothan legal team today to discuss your options. Whether you are in Columbia, Daleville, Cottonwood or any other surrounding area, call us today at 334-792-1900, or email us for a free consultation.