Alabama is not always known for its ability to modernize, but in the area of business law the state continues to strengthen the protection that it affords to small businesses.
In the last 5 years, Alabama has passed laws making it harder for attorneys to file frivolous lawsuits. Subsequently, this has decreased the cost of doing business statewide. Alabama also grants significant protection to businesses that are incorporated as LLCs and S-Corps.
One of the most important things that a business owner can do to protect their personal assets is to incorporate their business as an LLC (Limited Liability Corporation). If structured correctly and in accordance with applicable Alabama laws, the LLC can provide significant protections to business owners which could decrease the chance of financial ruin that comes from a lawsuit.
Recently, the deregulators in Montgomery have passed laws which eliminate much of the unnecessary paperwork which used to be required when creating an LLC. Therefore it is essential that if you own a business you work with an attorney who is up to date on all the recent changes in business law in Alabama.
At Reid Law Firm we will gladly review your current business structure with a free no-obligation consultation and tell you what type of incorporation we believe would be most beneficial for your company. For new incorporations and other types of business law services, we offer rates that are very reasonable and are often half as expensive as what other firms in the area are charging. We also work with CPAs who can help you create greater efficiencies in your bookkeeping and financial systems.
If you'd like a chance to review your business, please contact the Reid Law Firm today at (334) 319-8225 for a quick answer to any legal question. Chris Reid can be reached by this contact form. All communication to the Reid Law Firm is protected by attorney-client privilege, so any information submitted will be held in confidence. Initial consultations are always free. For a complete list of our practice areas please visit our home page.
Discussing your business structure with an attorney early on can save you years of legal entanglements later. At Reid Law Firm we can make sure your business gets off on the right track.
No representation is made that the quality of the legal services to be performed is greater than the quality of the legal services performed by other lawyers.
Our firm practices the following areas of law: wills, trust, and estates, divorce and family, DUI and drug offenses (only first and second-time offenses), and car accident cases. We also handle business law, including formation of business entities and drafting contracts. Additionally, I co-host Yellowhammer News every Monday during lunch from 11-12 on 101.1 FM Birmingham (but our show is broadcast throughout most of the state).