Sole Proprietorship

A sole proprietorship is the simplest and most common form of business structure, particularly for small businesses. This business type is owned and operated by one individual, and it offers several advantages:

• Easy Formation: Simple and cost-effective to set up with minimal regulatory requirements.
• Full Control: You have complete control over all business decisions and operations.
• Tax Benefits: Profits and losses are reported on your personal tax return, simplifying tax filing.

However, sole proprietorships also come with certain risks, such as unlimited personal liability for business debts and obligations. Our legal services are designed to help you navigate these challenges and maximize the benefits of your sole proprietorship.

Our Sole Proprietorship Services

1. Business Formation

• Initial Consultation: We provide personalized consultations to discuss your business goals and determine if a sole proprietorship is the right structure for you.
• Business Name Registration: We assist with registering your business name with the Tennessee Secretary of State and ensure it complies with state regulations.
• DBA Filing: We help you file a “Doing Business As” (DBA) name if you wish to operate under a name different from your own.

2. Regulatory Compliance

• Licenses and Permits: We assist with identifying and obtaining the necessary local, state, and federal licenses and permits required for your business operations.
• Zoning and Land Use: We ensure your business location complies with local zoning and land use regulations.

3. Contracts and Agreements

• Contract Drafting and Review: We draft, review, and negotiate contracts and agreements to protect your interests and ensure clarity in your business dealings.
• Service Agreements: We prepare service contracts tailored to your business, covering terms of service, payment terms, and other critical provisions.

4. Risk Management

• Liability Assessment: We conduct comprehensive liability assessments to identify potential risks and recommend strategies to mitigate them.
• Insurance Guidance: We provide advice on the types and levels of insurance coverage appropriate for your business needs.

5. Business Operations Support

• Employment Law Compliance: We help you navigate employment laws and regulations, including drafting employee handbooks and employment agreements.
• Intellectual Property Protection: We assist with trademark registration and protection of your business’s intellectual property.

6. Dispute Resolution

• Litigation Services: Our skilled litigators represent you in legal disputes, ensuring your rights and interests are safeguarded.
• Mediation and Arbitration: We offer mediation and arbitration services to resolve conflicts efficiently and amicably.

7. Business Transition and Succession Planning

• Exit Strategies: We help you develop exit strategies, whether you plan to sell your business, transfer ownership, or dissolve the business.
• Succession Planning: We assist with creating a succession plan to ensure a smooth transition of your business to new ownership.

Contact Us

Ready to start or manage your sole proprietorship? Contact Jerry Long, Attorney at Law today to schedule a consultation and let us help you build a strong legal foundation for your business success.