What is an LLC?

Find the right LLC attorney in Naperville, IL

The legal business form of the LLC, or Limited Liability Company, offers the advantages of several other traditional business forms. A LLC has the advantages of a corporation's limited liability, but avoids double taxation like a partnership or sole proprietorship. Like a corporation, the LLC can also have an endless amount of shareholders, called members. Unlike a corporation however, if a member dies, files for bankruptcy, or otherwise leaves the LLC, the company is dissolved. For hundreds of years, limited liability has been a main goal of some business forms, but since the Illinois legislature enacted laws authorizing its formation, the modern LLC has become more and more popular.

Can My Business Be Formed as an LLC?

Illinois allows a company to incorporate using the business form it chooses. To start as an LLC, a company just files the necessary form with the Secretary of State. However, there can be an additional fee required for forming your LLC, determined by Illinois laws that govern the formation and actions of LLC's. When deciding whether to form a LLC, you should consider which laws would apply to your company. Although it might take some time to find, choosing the right business structure for your company will lead to increased profitability.

Can I Change the Form of My Business to an LLC?

Businesses in Naperville may change their forms in specific circumstances. Whether a business may convert to a LLC or not is determined by Illinois law.

How Can an Attorney Help?

Whether it would be advantageous for your business to form or convert to a LLC is a difficult decision. An attorney practicing business law in Illinois can give you valuable advice.

Talk to a Business Law Attorney now!

Life in Naperville

Naperville, Illinois is a city in DuPage and Will Counties. It has a population of 140,000 people.

In 2006, Money Magazine

named Naperville, Illinois the second best place to live in the United States.

Naperville was founded in 1831 by Joseph Naper. Throughout most of its history, Naperville was a rural agricultural community. However, it began to experience a population boom in the 1960s, whichaccelerated in the 80s and 90s, with the construction of a major tollway into the Naperville, Illinois area.

Modernly, Naperville is in the heart of the Illinois Tech and Research Corridor, an area in which a large number of technology companies do business. It is sometimes called the Silicon Valley of the Midwest. Many of these companies, including BP, Nicor, and Nalco, employ large number of engineers, as well as administrative personnel. Many Naperville, Illinois lawyers are employed by these companies.

If you live in Naperville, Illinois and are in need of legal services, there are a large number of Naperville, Illinois attorneys who can help. A Naperville, Illinois lawyer will be able to advise you of your legal rights, and your chances of succeeding in your legal dispute.

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