Can I have multiple companies, and also have a law firm at the same time?

 

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Jan Meriss Alfonso
Assistant at Parklin Law

Can I have multiple companies and also have a law firm at the same time?

Yes, it is possible to have multiple companies and also a law firm at the same time. When you own a company, your role is that of an officer, director, or shareholder and you will be responsible for the management of the company.

Working as a lawyer in your firm

When you are working as a lawyer in your firm, you are essentially an independent contractor with your own business and you will be responsible for your own taxes and insurance.

Most lawyers are confused about the difference between a company and a firm. I think it is because there are many types of entities and each entity has different advantages and disadvantages. So I will try to explain the differences and then give you my opinion on whether you can have a law firm and multiple companies at the same time.

Limited Liability Company

While there are many different ways to run a business, it is possible to have multiple companies and still have a law firm at the same time. However, it is important to know that this type of structure is called an "LLC", or Limited Liability Company. In addition, it is not always wise to set up multiple LLCs. The liability protection afforded by these entities is highly useful and a wonderful asset in many situations.

Complexity

They also add complexity and cost to the operation of your business. The costs associated with incorporating an LLC are easy to overlook when you are just starting out, but once your company grows and starts making more money, these costs can really add up.

If you have questions, you can get a free consultation with the Best Business Lawyers.

Parklin Law - Business Lawyer

5772 W 8030 S, # N206

West Jordan UT 84081

(801) 618-0699

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Parklin Law
Estate Planning Attorney in West Jordan
https://parkin-law.business.site/

Location: Mendon, UT 84325, USA

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