Business Law Newsletter

• Sending Cease and Desist Letters to Protect a Business Name
  Trademark owners generally have exclusive rights to use their mark to label or identify their goods and/or services. Accordingly, trademark rights in a business name give the mark owner the right to use the name for commercial purposes,... Read more.
• Advantages to Employers of “Temp” and Leased Employees
  Over the past several decades it has become increasingly expensive to hire and maintain employees. A large part of the expense relates to government programs and reporting requirements, but accounting costs related to employees have... Read more.
• Estate and Income Tax Treatment of Contaminated Property
  The Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) imposes liability for the investigation and cleanup of contaminated real property without regard to whether the landowner created or allowed the... Read more.
• IRS Issues Proposed Regulations on Delaware Series LLC
  Limited Liability Companies (“LLCs”) are a form of business ownership which is a separate legal entity much like a corporation. An LLC is treated like a partnership for tax purposes and like a corporation for liability... Read more.

• Judge: Starbucks violated federal labor law by withholding pay hikes from unionized workers
• New law could allow big business to profit from organ donation
• Timeline: Hunter Biden under legal, political scrutiny
• MrBeast Faces Counter Lawsuit from MrBeast Burger Delivery Partner
• Investment Firm Fearless Fund Faces Racial Discrimination Suit Over Grant Program Made for Black Women

Selecting a Business Entity Type

If you are thinking of starting a business, you have many important decisions to make. One of the most important of these is choosing your business entity.

There are a number of different types of business entities, and each has its own set of advantages and disadvantages.

The most common types of business entities are:

• Sole proprietorships
• Partnerships
• “C” corporations
• “S” corporations
• Limited liability companies (LLCs)

In choosing your type of business entity, you must ask yourself the following questions:

• Do you want to maintain total control over your business, or do you want to have partners?
• If you choose to have partners, will they all be treated the same?
• Do you plan on providing your products or services to the local community, or are your products or services going to be marketed nationally or even internationally?
• Do you want people to invest in your business and own a part of it?

You must also consider the legal implications associated with each business entity type.

• Do you wish to have yourself protected from personal liability, or is your business generally one with little or no liability risk?
• Are you planning on employing a large number of people?

The Internal Revenue Service (IRS) treats various business entities differently according to the applicable tax laws. Also, depending on the type of business entity you choose, you may be filing more than one tax return each year.

When starting a business, it is important that you understand the advantages and disadvantages of each type of business entity. You must carefully decide upon the business entity that best suits your objectives.

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