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Downers Grove Incorporation Attorneys | Downers Grove Corporate Attorneys | LLC Attorneys, Downers Grove, IL

Downers Grove Incorporation Attorneys | Downers Grove Corporate Attorneys | LLC Attorneys, Downers Grove, IL

Our Downers Grove corporate attorneys provide personalized and comprehensive representation for your corporation, LLC, partnership, or sole proprietorship. We can help you choose the appropriate corporate entity. Our Downers Grove incorporation lawyers will set up and maintain your corporation or LLC;  draft bylaws, operating agreements, and partnership agreements; draft employee contracts and independent contractor agreements; and negotiate commercial leases, asset purchase agreements, and stock purchase agreements.  We can also help you prepare your employee handbook and ensure compliance with state and federal employment regulations.  Because we have several attorneys on staff with different areas of focus, we can represent you in dispute resolution, collection, and litigation; personal and corporate debt workouts and bankruptcies; and estate planning and exit strategies.  In addition to legal representation, we offer business coaching and consulting as well as networking events and speaking opportunities.

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Downers Grove Incorporation, LLCs & Corporate Law Attorneys

Incorporation attorneys downers grove il

Please contact our friendly

Downers Grove Incorporation, LLCs & Corporate Law Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Downers Grove

5002 Main St, Ste. 201
Downers Grove
,
IL
60515
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See below for our other locations. If our office locations are not convenient for you, we are happy to speak with you by phone.  ​​​

Hours: 
9 am - 5 pm, Mon-Fri

Our  Office Locations: 

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Downers Grove

5002 Main St, Ste. 201 Downers Grove, IL 60515

Naperville Attorney, Naperville Attorneys, Naperville Lawyers, Naperville Lawyer

Naperville

105 Jackson Avenue, Ste. 4b Naperville, IL 60540

Elmhurst Lawyer, Elmhurst Lawyers, Elmhurst Attorneys, Elmhurst Attorney

Elmhurst

​110 E. Schiller Street, Ste. 220B ​Elmhurst, IL 60126

Lake in the Hills Attorneys, Lake in the Hills Attorney, Lake in the Hills Lawyer, Lake in the Hills Lawyers

Lake in the Hills

8411 Pyott Road, Ste. 107, ​Lake in the Hills, IL 60156

Tinley Park Attorney, Tinley Park Attorneys, Tinley Park Lawyer, Tinley Park Lawyers

Tinley Park

​16557 Oak Park Avenue, Ste. B, Tinley Park, IL 60477

St. Charles Attorneys, St. Charles Lawyers, St. Charles Attorney, St. Lawyer

St. Charles

210 S Fifth St, Ste. 107B, St. Charles, IL 60174

Here's What Our Clients Have to Say:

John Paul Clancy
Says...

"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."

Kevin Sender
Says...

"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."

Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!

An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.

DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
John Paul Clancy
Says...
"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
Kevin Sender
Says...
"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
Mike Stehlik
Says...
"Kevin and his team are my "Go To" resource for clients that need estate planning"
Kevin Koc
Says...
Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!
Stephen Petersen
Says...
An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.
Troy Golden
Says...
Kevin is an excellent attorney. He helped me incorporate by business and provides legal counsel as need. I highly recommend him.
incorporation lawyers downers grove illinois

Meet Our Owner

Kevin O'Flaherty oversees all legal matters and is actively involved in making sure every client's case, big or small, is handled with excellence and attention to detail. He is available to contact through phone and email and his rates are available upon request.

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Downers Grove Incorporation, LLCs & Corporate Law Attorneys

Downers Grove Incorporation Attorneys | Downers Grove Corporate Attorneys | LLC Attorneys, Downers Grove, IL

Or Continue Scrolling Below to Browse some of our Most Helpful Articles

11 Situations In Which To Consult Your Downers Grove Corporate Attorney

Downers Grove Incorporation Lawyers

Downers Grove LLC attorney Kevin O'Flaherty of O'Flaherty Law discusses the 11 situations in which you should consult your Downers Grove corporation attorney, including: (1) Incorporation; (2) Annual Reports; (3) Employees; (4) Contracts; (5) Investor Agreements; (6) Trademark and Copyright Applications; (7) Dispute Resolution, Litigation & Collection; (8) Solutions for Distressed Businesses; (9) Exit Strategies; (10) Estate Planning; (11) Business Consulting

Downers Grove Incorporation Lawyers

In this article, our Downers Grove corporate lawyers discuss situations in which you should consult your corporation's attorney. One of the most important things an attorney can do for a business owner is to eliminate “unknown unknowns.”  During the life-cycle of a business, there are 11 inflection points where business owners should consult with their attorneys.

(1) Incorporation –  Before you open your bank account and start doing business, your attorney can help you:

  • Select the most advantageous corporate form (Corporation, LLC, Partnership, etc.);
  • File Articles of Incorporation or Articles of Organization from the Secretary of State;
  • Prepare Bylaws, an Operating Agreement, or a Partnership Agreement;
  • Buy/Sell Agreements with partners;
  • Prepare Initial Meeting Minutes of Shareholders and Directors;
  • Obtain a federal tax identification number from the IRS;
  • File an S-Corp Election to save on self-employment tax;
  • File unemployment tax registration (if an employer);
  • Obtain a state tax identification number.

(2) Annual Maintenance – If you do not properly maintain the corporate formalities for your entity, the corporation or LLC will not be effective as a liability shield.  Your attorney can help you:

  • Prepare and file your annual report with the secretary of state; and
  • Prepare your minutes for annual meetings of shareholders and directors.

(3) Employees – Before you hire your first employee, you should meet with your attorney to make sure you are legally protected from future employee issues.  He or she will also teach you about the advantages and disadvantages of structuring the agreement as an independent contractor.  Your attorney can help you prepare:

  • Employment Application;
  • Employment Offer Letter;
  • Employment or Independent Contractor Agreement;
  • Employee Handbook;
  • Employee Drug Testing and Consent From;
  • Employee Warning Letter Forms; and
  • Employee Termination Letter Forms.

(4) Contracts - Any time you do significant business with a third party, you should have a written contract to avoid future disputes.  Contracts that you should have your attorney draft or review include:

(5) Investor Agreements – If you need capital for growth and are looking to bring in additional investors, your attorney will prepare a stock purchase agreement and prospectus.

(6) Trademark and Copyright Applications –  Got a good idea or logo?  Make sure that it stays yours by filing a trademark or copyright application.

(7) Dispute Resolution, Litigation & Collection - If you have a dispute with an employee, a customer, or a vendor, a good attorney will work to settle the dispute without litigation.  If litigation or collection become necessary, your attorney should always have an eye toward minimizing your expense while aggressively advocating on your behalf.

(8) Solutions for Distressed Businesses – If your business is in distress, your attorney can help you formulate a comprehensive strategy to either get your business back on track or start over with a clean slate, by:

(9) Exit Strategies - When you are ready to move on to your next venture, your attorney will help you formulate an exit strategy.  This may include:

  • Asset Purchase Agreements;
  • Stock Purchase Agreements; and
  • Formulating a succession plan to transition ownership to a key employee or family member.

(10) Estate Planning – You have worked hard to build your business.  Your attorney will help you make sure that your assets are protected from:

(11) Business Consulting – O’Flaherty Law, unlike most law firms, offers business coaching and consulting services.  We can help you navigate the processes of getting your business established, systematized, efficient, and growing.

Why Incorporate Your Business?

Dowenrs Grove incorporation attorney Kevin O'Flaherty of O'Flaherty Law discusses why it makes sense to hire an attorney to set up your corporation or LLC. (1)Ensure that you are selecting the most advantageous and proper corporate entity. (2) Ensure that corporate formalities are maintained. (3) Ensure that you are registered with the required government agencies. (4) Advise you on tax issues and file necessary paperwork. (5) Build a relationship for your future business needs.

Downers Grove Corporate Lawyers

Our Downers Grove incorporation lawyers explain why you should work with a corporate attorney when incorporating your business. The first step in launching your business is incorporating.  You should have your corporate form in place before opening a bank account, cutting any checks, or signing any contracts.  There are two primary reasons to incorporate your business:

  1. Protect Your Personal Assets from Business Liability:  Being out in the world transacting business leads to a much greater potential for liability.  Your business can be sued, frivolously or otherwise, by employees, customers, third-party vendors, competitors, or even people who simply slip and fall on your premises.  If your business is incorporated, you can limit most types of liability to assets owned by the corporation.  This means that if you have a large amount of corporate debt, from a lawsuit or from a loan that your company cannot repay, you will likely be able to dissolve the corporation and keep your personal assets,  as well as the assets of other businesses you own, safe from collection.
  2. Save on Self-Employment Tax:  In addition to income tax, if you are self-employed, you will have to pay self-employment tax on money earned by your business.  If you are not incorporated, you will have to pay self-employment tax on everything you take home from your business.  If you are incorporated and you file an S-Corp election with the IRS, you can take a portion of your business income as a salary and the rest as profit.  You will only pay self-employment tax on your salary, and will take your profits free and clear of self-employment tax!  This means that even though it costs money to incorporate, incorporation will actually save you money in the long run by reducing your self-employment tax. 

How to Move your Corporation or LLC to Another State

Downers Grove LLC lawyer Kevin O'Flaherty explains how ot move your corporation or LLC to a different state.

Downers Grove Corporate Attorneys

In this article, our Downers Grove corporate attorneys explain how to move your corporation or LLC to another state.  We explain when a company is required to file as a foreign corporation in Illinois.  We discuss whether it makes sense for your Corporation or LLC to file a foreign registration.  Finally, our Downers Grove corporate lawyers explain some of your options if you are a multi-state corporation or LLC.  

Read the full article by our Downers Grove incorporation attorneys explaining how to deal with multi-state corporations or LLCs.

Networking Events

We host regular networking events and seminars that help our business clients gain vital connections and deepen their roots in the community.   We also host power groups in which our clients and referral partners can meet regularly to exchange ideas and work together to overcome obstacles to success.  

SeizeYourBusiness.com

At O'Flaherty Law, we are so much more than your business attorney.  We are your trusted adviser, invested in your business' success on every level.  In our weekly podcast & videocast, which has been ranked #2 on iTunes' New and Noteworthy List for Management & Marketing Podcasts, Kevin O’Flaherty and Scott Mathis plunge into the mind of a successful business owner to discuss lessons that he or she has learned in the course of business in order to help our audience learn from his or her experience. We then delve into an in-depth discussion of our weekly business topic.  This is one way he helps our business clients gain exposure to a broader audience.  

Further Reading From Our 

Downers Grove Incorporation, LLCs & Corporate Law Attorneys