Starting a Law Practice – Part 3: Choice of Entity

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A previous post in our blog series for entrepreneurial attorneys focused on the importance of a solid business plan, and a critical part of that process is determining the entity structure for your new company. A law practice can operate in a variety of forms: sole practitioner, partnership, professional corporation, or limited liability company. A new practice’s choice of entity is an important decision that will have significant consequences for many years.

  • Sole practitioner or partnership – Before the development of the limited liability company (LLC), many attorneys operated as sole practitioners or in general partnerships. Currently, these forms …read more

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