Business Formation

Craco & Ellsworth advises clients on business formation issues, including the proper choice of entity for joint ownership and protection from personal liability. In doing so, the firm works closely with tax and other experts to create an entity that is efficient and protective of the client's personal assets.

• Craco & Ellsworth can be of assistance at the earliest stages of a businesses development. The firm encourages clients to undertake a rigorous self-assessment to determine whether they posses the necessary skills, experience and financial backing to start a new business. Whether buying an existing business or starting from scratch, clients are encouraged to develop a written business plan focusing on such topics as:
• Start up expenses
• Financing
• Employment issues
• Insurance issues
• Location (buy, lease)
• The product or service offered
• The health of the industry
• Where clients/customers will come from
• Competition
• Pricing of goods/services

Next, Craco & Ellsworth can assist in forming a supportive and trusted team of experts, including:

• Accountants/Tax Experts
• Insurance/Risk Management
• Financial Planners
• Lenders and/or Investors
• Craco & Ellsworth focuses on the details of business formation, including registering or reserving names; trademark (or service marks); licensing issues, local, county, city or state, environmental permits; and obtaining tax ID numbers.
• Once up and running, Craco & Ellsworth continues to serve as a source of information and advice. Issues of employment, competition, financing and expansion invariably result in questions and (problems) that keep clients returning.

Business Break-up

Partners, shareholders and members of limited liability companies often find themselves disagreeing over the direction a company/business entity should take in navigating turbulent financial waters. Craco & Ellsworth helps partners, shareholders and LLC members analyze the complexities of business relationships. We represent owners in the negotiation and sale of shares under shareholder or operating agreements, severance agreements and, if necessary, commence dissolution and/or valuation proceedings in the appropriate courts. At all times, we keep in mind the need to resolve business disputes quickly and cost effectively.