If you are in the process of starting a business or have already started operations but have not yet formed a business entity, you should speak to an attorney as soon as possible. There are a variety of entities to choose from in both Missouri and Illinois, including partnerships, limited liability companies (LLCs), sole proprietorships, and corporations. Each has different benefits and drawbacks, and the one that is appropriate in your case depends on several factors, including the nature of your business, your potential for growth, and whether you want to seek outside investment.
These issues should be considered before forming a business, and discussing your situation in detail with an experienced attorney is the best way to ensure that you form the business entity that is right for you. In addition, the assistance of a lawyer will ensure that your entity is formed as quickly as possible so that you obtain the benefits and protection that some of these business entity choices provide.