Experienced, business savvy and reliable counsel specializing in corporate, commercial and outsourced general counsel services for new and growing business.
Practice areas & skills: Limited Liability Company (LLC), Contracts & Agreements, Business, Chapter 11 Bankruptcy, Bankruptcy & Debt
Review: “I have known Mike Shuster for many years. He has done work for me in the past and several of my good friends are also his clients. Mike is intelligent, creative and knowledgeable. I would highly recommend him for any c...
Practice areas & skills: Limited Liability Company (LLC), Contracts & Agreements, Business, Health Care, Corporate & Incorporation
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Creating a limited liability company, or LLC, is one of several ways to structure a business. The other choices are general, limited, or limited liability partnerships. A shareholder in an LLC is not personally liable for any of the debts of the company, other than for the money they invested in that company. In a general partnership, all partners manage the business and are personally liable for its debts. In limited partnerships, partners' liability is limited and they have no voice in the decision-making. And in a limited liability partnership (LLP), all partners have some degree of limited liability. A lawyer with LLC experience can help you determine if forming an LLC is advantageous and appropriate for your business. If you decide to form an LLC, the attorney can draft the paperwork you need to formalize your choice, including provisions for management, ownership transfers, and profit and loss distributions.