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May 18, 2018 | All Start a Law Firm Topics, Corporate Structure

Choose a Corporate Structure

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You learned in law school that you should establish a business entity for your new solo law firm, but which one is best? Which business entities are permitted under the Rules Regulating The Florida Bar? What are the pros and cons of each option? These are serious questions. Fortunately, we have the basic information you need to make your decision.

CHOOSE A CORPORATE STRUCTURE

There are five types of business entities permitted for the practice of law in Florida:

  1. Sole Proprietorship
  2. General Partnership
  3. Limited Liability Partnership (LLP)
  4. Professional Service Corporation known as a Professional Association (P.A.)
  5. Professional Limited Liability Company (PLLC)

All of these business entities are permitted for the practice of law under Rule 4-8.6(a) of the Rules Regulating The Florida Bar. You can start reviewing the options available to you here.

Watch this video by Frank A. Rodriguez, Founder, Chairman and Chief Legal Officer for Corporate Creations International, Inc., for a discussion on corporate structure:

Still have questions? Watch What are some considerations I should make when choosing a business entity for my new law firm? and Should I form a professional service corporation? Do I have to?

SELECT A LAW FIRM NAME

Once you have selected your business entity structure, you have to select a firm name. You have undoubtedly put some thought into this decision. However, does your favorite law firm name comply with the Rules Regulating The Florida Bar? The page Selecting a Firm Name lists opinions relating to the naming of law firms that you should review before selecting that perfect firm name.

ADDITIONAL RESOURCES

Florida Bar Member Benefit
Corporate Creations International, Inc. is a Florida company that provides registered agent and incorporation services. It can help you determine which corporate structure is best for you. Moreover, Corporate Creations offers a 100% discount off standard service fees for registered agent and incorporation services for Florida Bar members who form P.A., PLLC and LLP entities for their own law practices. To take advantage of the offer please call (561) 694-8107 and speak with the account manager for Florida Bar members and mention coupon code FLbarmember.

Click here for an overview of the corporate structures available to you.

Rules Regulating The Bar
Lastly, we suggest that you review the Rules Regulating The Florida Bar again to confirm there are not lingering issues out there about which you are unaware.

VIEWS AND CONCLUSIONS EXPRESSED IN ARTICLES HEREIN ARE THOSE OF THE AUTHORS AND NOT NECESSARILY THOSE OF FLORIDA BAR STAFF, OFFICIALS, OR BOARD OF GOVERNORS OF THE FLORIDA BAR.