Illinois Business Law Attorneys

Skilled Guidance with Business Formation, Incorporation, and Maintenance

When setting up a new business, proper planning is essential to ensure future success. There are numerous areas that must be addressed; such as creating a business plan, entity selection, partnership/shareholder agreements, drafting bylaws and articles of incorporation, protecting intellectual property/trade secrets and many others. To ensure the interests of the owners are protected during business formation, incorporation, and maintenance, it is important to retain an experienced commercial and business litigation attorney to guide you through the process.

At Cisar & Mrofka, Ltd., we have over one-half a century of combined experience helping small to medium sized businesses in Illinois with all types of legal issues. Our attorneys work collaboratively to provide clients a full-service solution that effectively addresses their needs and accomplishes their goals. We understand that each business is unique, and there is no “one size fits all” solution for every entity. We put our extensive experience to work to assess each client fully and customize a business plan that best serves your interests.

Business Entity Formation in Illinois, Call 630-530-0000630-530-0000

Setting up the right entity is important for shielding the business and its owner(s) from personal liability exposure, providing the right governance structure to allow for smooth operation and growth, and to properly plan for state and federal tax implications.

Some of the most common business and non-profit entities include:

  • Corporations: A large number of commercial entities choose to incorporate. Forming a corporation offers several potential advantages, including limited liability for owners, perpetual existence, the ability to have an unlimited number of shareholders and unlimited growth potential through the issuance of stock. The one major drawback to corporations is double taxation; that is, profits are taxed once when earned, then again when distributed to shareholders as dividends. To avoid double taxation, many smaller businesses opt to form a Subchapter S Corporation.
  • Partnerships: If two or more individuals are forming a business for profit, they may choose a partnership. With this entity structure, each general partner is personally liable for any debts and legal obligations incurred by the business. If there are limited partners, they are not involved with the management of the company and are only liable for their initial capital investment.
  • Limited Liability Companies: An LLC is an entity that combines some traits of a corporation with some traits of a partnership. Owners enjoy limited liability (similar to a corporation) as well as “pass through” taxation (similar to a partnership). LLCs are also flexible in the way profits can be distributed to owners.
  • Private Foundations: A private foundation is a non-profit, non-governmental organization that usually derives its principal funding from a single or limited number of sources and does not solicit donations from the general public. Private foundations are often set up by individuals, families or corporations for philanthropic purposes.
  • Public Charities: A public charity is also a non-profit, non-governmental organization whose principal funding comes from the general public or grants received from individuals, private foundations or the government.

At Cisar & Mrofka, Ltd., we have an in-depth understanding of various entity structures and the strengths and weaknesses of each. We work closely with each client to select the right entity and guide them through the setup process. For skilled assistance with business formation, incorporation and maintenance in Illinois, contact our office today at 630-530-0000630-530-0000 for a personal consultation. From our offices in Oakbrook Terrace, we provide experienced counsel, advice and legal representation for clients in DuPage County, Cook County, Kane County, Will County, and all Illinois communities.

Practice Areas

  • IAWA
  • Water Environment Federation
  • Illinois State Bar Association
  • DuPage County Bar Association
  • American Bar Association