12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Do I Need a Lawyer to Start a Business in Chicago, IL

Do I Need a Lawyer to Start a Business in Chicago, IL


The true entrepreneur is a doer, not a dreamer.
 
- Nolan Bushnell


Every day, thousands of Americans embrace their dream and start their own company.

Entrepreneurs are the lifeblood of the American economy. Small businesses make up 99% of all businesses, employ half of all private sector employees, and have generated two thirds of new jobs in the last two decades.

Entrepreneurs know they'll need a good business plan, some expert help, a little start-up money, and a lot of dedication. A small business owner may need to pick a name, choose a business structure, obtain permits and hire employees.

Picking a unique name allows you to obtain trademarks and copyrights, differentiates your business from competitors, and makes your brand more memorable. See if you can register the web url for your business name dot-com. Look up the U.S. Patent & Trade Office's database for your exact name, misspellings, or similar names. Check with your county clerk and your Secretary of State to make sure your business name is unique. If your business is going to be a corporation, LLC, or limited Partnership, you will have to register your name with your Secretary of State as well. Finally, register your name on social media, such as Twitter and Facebook.

There are several business structures to choose from and each has its own distinct advantages and disadvantages. For example, an LLC protects you best from liability. A sole proprietorship is the easiest business structure to set up. However, it provides the least amount of financial and legal security compared to other business structures. Partnerships are more complicated than sole proprietorships. Partners generally share profits and losses equally and do not get a salary from their partnership. Forming a partnership does not require a written Partnership Agreement, although it is highly recommended.

Incorporating may involve more paperwork on an ongoing basis and may increase taxes, but they also shield owners from liability and provide the infrastructure for corporate stocks.

Creating a Nonprofit Organization is an option for organizations that aim to do public good rather than turn a profit. Nonprofit status, provides limited liability protection and may qualify for tax exempt status, access to grants, and receive tax deductible donations. There is far more paperwork and scrutiny for NPOs. A nonprofit's finances are open to public inspection and it is not owned by its founders; if an NPO dissolves, its assets are usually given to another NPO. If assets are used for private benefits, they can be seized.

No business is too small to incorporate and the time it takes to form a corporation, LLC, or non-profit at 12Law.com is minimal.

There are a number of tasks that you may be able to accomplish without the expense of a lawyer: 1) form your own Partnership, LLC or corporation; 2) create your own partnership agreement, LLC operating agreement or shareholder's agreement; 3) apply for your business employer identification number (EIN); 4) apply for the required business licenses and permits; 5) lease commercial space; 6) interview and hire employees, and complete the necessary IRS paperwork; 7) research and reserve a trademark or trade name for your business; 8) file a fictitious business name statement if you will do business under a different name; 9) research and reserve a name for your corporation or LLC; 10) apply for and reserve a domain name, if you will do business on the Web.

If you're set up as a sole proprietorship or partnership, it might be a good idea to get liability insurance. If you're going to need buses, vans, or cars, you should insure those too. And looking into general business insurance is always a smart choice.

Only you can decide if hiring a lawyer is right for you. Check out 12Law.com for listings of lawyers in your neighborhood.
 
Personalize & Print a Free IL Partnership Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Related Legal Services near Chicago, IL
Cowell-Taradash PC
100 N La Salle St
Chicago, IL 60602
(312) 987-9999
Divorce Attorneys, Family Law Attorneys, Attorneys
Anderson & Associates PC
1 S Dearborn St #2100
Chicago, IL 60603
(312) 345-9999
Attorneys, Divorce Attorneys, Family Law Attorneys
Phillip Bartolementi Ltd
53 W Jackson Blvd Ste 1401
Chicago, IL 60604
(312) 360-9999
Personal Injury Law Attorneys, Insurance Attorneys, Attorneys
Gregory E Kulis & Associates Ltd
30 N La Salle St
Chicago, IL 60602
(877) 758-9991
Civil Litigation & Trial Law Attorneys,  Business Law Attorneys,  Personal Injury Law Attorneys,  Di
Moyer Kirk A
134 N La Salle St Ste 1150
Chicago, IL 60602
(312) 399-9983
Attorneys
Pintas Mullins Law Firm
368 W Huron St # 100
Chicago, IL 60654
(312) 429-9980
Accident & Property Damage Attorneys, Attorneys
Gutierrez Gerardo S
53 W Jackson Blvd # 1122
Chicago, IL 60604
(312) 786-9970
General Practice Attorneys, Attorneys, Legal Service Plans
Michael Gravlin
134 N La Salle St #2020
Chicago, IL 60602
(312) 201-9961
Attorneys,  Elder Law Attorneys,  Accident & Property Damage Attorneys,  Litigation & Tort Attorneys
Axia Law
200 N La Salle St Suite 2675
Chicago, IL 60601
(312) 546-9951
Personal Injury Law Attorneys, Employee Benefits & Worker Compensation Attorneys
Jonathan N. Schatz
33 N Dearborn St
Chicago, IL 60602
(312) 379-9947
General Practice Attorneys, Attorneys
Elizabeth M Wells
1 E Delaware Pl
Chicago, IL 60611
(312) 255-9942
General Practice Attorneys, Attorneys
Total Attorneys - Personal Injury
274297 N Ashland Ave
Chicago, IL 60622
(312) 588-9942
Attorneys, Legal Service Plans
Preferred Capital Funding
368 W Huron St # 200N
Chicago, IL 60654
(312) 204-9933
Accident & Property Damage Attorneys, Attorneys, Legal Service Plans
Meserow Alan
135 S La Salle St # 3300
Chicago, IL 60603
(312) 269-9922
General Practice Attorneys, Attorneys
Kopka Pinkus Dolin & Eads
200 N La Salle St
Chicago, IL 60601
(312) 782-9920
Attorneys,  Personal Injury Law Attorneys,  Insurance Attorneys,  Product Liability Law Attorneys
Melissa Smejkal
333 N Jefferson St Apt 204
Chicago, IL 60661
(708) 788-9910
General Practice Attorneys, Attorneys, Legal Service Plans
Kelly John G The Law Offices
100 W Monroe St
Chicago, IL 60603
(312) 407-9900
General Practice Attorneys, Attorneys, Legal Service Plans
Olson Law Firm
125 S Wacker Dr # 300
Chicago, IL 60606
(312) 629-9900
General Practice Attorneys, Attorneys, Legal Service Plans, Family Law Attorneys
Trowbridge Bradley Law Office
4753 N Broadway St # 1012
Chicago, IL 60640
(773) 784-9900
General Practice Attorneys, Attorneys
The Tate Connection
1977 E 73rd St
Chicago, IL 60649
(773) 493-9898
General Practice Attorneys
Total Attorneys - DUI
274014 N Ashland Ave
Chicago, IL 60622
(312) 588-9894
Attorneys, Legal Service Plans
Zyb & Associates
10 S La Salle St
Chicago, IL 60603
(312) 750-9889
Immigration Law Attorneys, Attorneys
Mccready Garcia & Leet PC Law Offices
10008 S Western AVE
Chicago, IL 60643
(773) 779-9885
General Practice Attorneys,  Attorneys,  Legal Service Plans,  Wrongful Death Attorneys,  Litigation
Kanyock Thomas
111 N Canal St # 394
Chicago, IL 60606
(312) 474-9880
General Practice Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US