Choosing a corporate structure is an important aspect of business planning. Corporate reorganization occurs when a business owner chooses to change a business’s legal structure in order to better meet goals for development and growth. The legalities involved in corporate reorganization have a direct effect on the bottom line of a business; with the right mechanisms in place business owners can shield themselves from personal liability, reduce their tax burden and actively participate in new markets.
Laughlin & Company Lawyers Mediators can help you to establish the business structure that is right for your company. Upon meeting with you at our offices in Port Coquitlam, our corporate reorganization lawyers can present you with options that take into account your business strategy and personal goals.
Factors To Take Into Account When Choosing A New Structure
When choosing the best legal structure for your business, you should take certain things into account. One is the geographic scope of the business. If you operate only in British Columbia, your options are different from those you have if you operate in other provinces or internationally, or plan for geographic expansion. The nature of your business may also lend itself more readily to one structure over another; a sole proprietorship or a professional corporation might be right for an individual professional. Tax concerns, liability issues and the number of shareholders in your business will all affect what kind of legal entity is right for you.
Laughlin & Company’s lawyers have trusted advisers to Tri-Cities businesses in a broad range of industries. We have experience not only with the technical specifications of the law but the day-to-day practicalities of running a business in British Columbia. From this perspective, we can give you our assessment of what your best legal course of action.
To schedule a consultation with a member of our team, call the firm at 604-239-0800 or get in touch online. Clients of our legal firm come from throughout the Tri-Cities, including Poco, Port Moody, and Coquitlam.