Business and Entity Formation

THE BUSINESS SHOULD BE LIABLE, NOT THE BUSINESS OWNER

Business and Entity Formation

Setting up a new business requires numerous legal procedures that must be followed to ensure you receive all the benefits and protections you expect. For company formations, we provide legal and business support and advice based on real-life experience. Not only are we lawyers, but we are business owners, too. We understand the company formation process and can guide you through each step. MNCLS’s personal experience in the construction industry gives us unique insight on how to streamline company formation while providing a business and legal partnership down the road.

Entity formation is the process of creating a new “person” that in the eyes of the law is completely separate from you. Legal entity formation protects personal assets from business liabilities. It proves that the owner’s personal assets are not in any way associated with the business, therefore cannot be taken to settle the business’s debts. Our entity formation services form the entity and show you how to maintain and protect your entity’s integrity.

PROCESS

What is our process?

Business and Entity Formation

Common Issues

If the business owner neglects to create their separate entities or does not properly form their entity, the law can hold the individual and their assets liable for the business debts. An owner needs to legally prove, through documentation and procedures, that the personal assets are operated independently from the business.

MNCLS offers a reasonable fixed fee for entity formation services plus Minnesota’s required filing fees. If there are additional needs required for the entity formation, such as extra documentation or working with third-parties, this may alter the price.

On average, it takes between one to seven days.

It all depends on the type of business and what activities you conduct in other states. A contractor building in a state must be properly registered to do business in that state. You cannot go to another state and conduct business unless you have set up your entity in that state. This could include licensing, registering as a foreign entity doing business in that state, or creating an entirely new entity domiciled in that state. We have experience setting up businesses in many different states, including the states that surround Minnesota.

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