Comprehensive Assistance Forming Limited Liability Companies
As a business owner, you want to make sure you’re setting your business up for success from the start of the corporate formation process, which means choosing the right business entity for your situation. While limited liability companies (LLCs) offer numerous benefits, including the same liability and tax protections of a corporation, you may be wondering if it’s the right decision for your situation. If you need guidance, the attorneys at our firm are here to help.
At Jones & Walden LLC, we put decades of business law experience to work right away for our clients — from the moment they sit down with us during a consultation throughout the entire business formation process. Since 2001, we have been providing Georgia business owners in Atlanta and the surrounding metro area with high-quality legal counsel regarding LLC formation and other business entities. With diverse legal backgrounds covering a wide range of business-related legal matters, our lawyers have the acumen and prowess to get results that are truly in our clients’ best interests.
Understanding Limited Liability Companies
A limited liability company, or “LLC,” is formed by one or more organizers who file Articles of Organization with the secretary of state along with a filing fee. Georgia law requires that the Articles of Organization and initial filings contain certain information prescribed by statute.
The organizers must create a name for the LLC, which has to include one of the following designations: “limited liability company,” “limited company,” “L.L.C.,” “LLC,” “L.C.,” or “LC.” The name must also be fewer than 80 characters and distinguishable from the names of other entities transacting business in Georgia.
The initial filings with the secretary of state, including the Articles of Organization, must contain:
- The names and addresses of the organizers
- The street address and county of the LLC’s initial registered office
- The name of its initial registered agent at that office
- The mailing address of the LLC’s principal place of business
The organizers do not have to be owners, who are called “members,” of the LLC when the company is formed or any time thereafter. Similarly, the registered agent need not be a member of the LLC. Instead, they are often an attorney who is company-appointed to receive service of legal documents if the company is sued.
Understanding The Articles Of Organization
The Articles of Organization, though an essential part of an LLC’s formation, typically do not contain detailed provisions related to the company’s governance. Instead, these details are usually covered in a separate operating agreement that is not required to be filed with the secretary of state. Yet the operating agreement cannot conflict with the Articles of Organization.
Operating agreements normally contain governance rules such as management structure, voting rights, member meetings, company books and records, and limitations on creation and transfer of membership interests.
Once the LLC is formed, the company may open bank accounts, obtain any necessary licenses and commence operations within the guidelines set out in the governing documents. The members (or managers, if any) must ensure that the annual registrations and filing fees are timely submitted to the secretary of state and that all other legal and tax requirements are satisfied. The LLC will then continue to exist until it is terminated according to the operating agreement or otherwise dissolved.
Getting Guidance Through Business Litigation
Whether you’re operating an LLC or another business entity, it’s important to remember that business disputes can arise; when they do, it’s best to turn to an attorney who has the diverse legal background you need to resolve numerous complex legal matters and the experience necessary to resolve business litigation matters.
The lawyers at our firm have considerable experience both inside and outside the courtroom and use their diverse legal backgrounds to resolve even the most complex cases. We combine the personal attention you get at a small firm with the extensive experience you’d find at a big firm. With our attorneys, you’re always in good hands.
Putting Skilled Counsel In Your Corner
If you have questions about forming an LLC or need help resolving a business dispute related to your LLC, contact the attorneys at Jones & Walden LLC, to schedule a consultation. Call our Atlanta office at 678-701-9235 or contact us online to get started.