Legal Solutions For All Sizes

Whether you are a new entrepreneur looking to start a business; an established local, small business owner seeking legal support; or a large corporation in need of local counsel; Clair Law has the business savvy and experience to generate efficient, effective legal solutions for your business needs. Our attorneys have assisted corporate entities located in Lake Geneva, restaurants in Delavan, and banks throughout Walworth County. We assist a variety of businesses in Southeast Wisconsin.

Our attorneys are experienced in the following areas:

Employment Law Matters	Limited liability Companies
Contracts	Sub Chapter S Corporations
Merger and Acquisition Transactions	Partnerships
Shareholder Disputes	Collections
Mediation	Shareholder Agreements
Arbitration	Closely-held Business Transactions
Commercial Litigation	By-Laws
Corporate Governance	Articles of Incorporation

Frequently Asked Questions Regarding Business and Corporate Law

New business: where do I start?

The decision of what legal structures to adopt can be filled with complicated details, elections, tax implications, liability concerns and legal questions. It is certainly not a time to make assumptions. It is a time to seek good professional advice. Whatever legal structure you choose for your business, have it custom tailored in properly drafted legal documents that satisfy all of your concerns. Clair Law is pleased to provide legal services to southeastern Wisconsin businesses in the areas of business organization, estate planning, partnership, joint ventures, real estate and land development.

What is a sole proprietorship?

A sole proprietorship is the simplest business organization. A proprietorship is completely owned and controlled by one person. As the holder of the business assets, that one person reaps all the profits, but is also personally responsible for all losses and liabilities. The sole proprietor and his or her business are one and the same and have a common identity. For more information on forming a sole proprietorship, contact Clair Law at info@clairlaw.com or visit our blog.

What is a partnership?

Partnerships are organizations that are owned and controlled by two or more persons. The partners share in the profits, losses, control and liability of the business. Under a limited partnership, the limited partners are protected from personal liability - they only risk losing their capital investment. For more information on forming a partnership, contact Clair Law at info@clairlaw.com or visit our blog.

What is a corporation?

A corporation is a legally separate entity, which is distinct from the business’ individual owners. The corporation can acquire property, inventory and equipment, and can sue or be sued. For more information on forming a corporation, contact Clair Law at info@clairlaw.com or visit our blog.

What is a limited liability company or partnership?

The newest and most popular forms of business organization in Wisconsin are the Limited Liability Company (“LLC”) and the Limited Liability Partnership (“LLP”).

An LLC can be an organization of only one person, which provides more liability protection than a sole proprietorship. An LLC can also have multiple owners who are free to structure their economic and management relationship to suit their needs. An LLC combines the best features of a partnership and a corporation. While liability is limited to only your initial capital contribution as in a corporation, an LLC offers the flexibility and tax benefits of a partnership. An LLC also has fewer formal statutory requirements than a corporation.

An LLP is modified partnership, offering the limited liability of a Limited Partnership without the limitations on management and participation in the business affairs.

For more information on forming a LLC or LLP, contact Clair Law at info@clairlaw.com or visit our blog.

Ownership Liability for Business Debts

The major distinction between a sole proprietorship and partnership as compared to corporations is a concept known as “limited liability.” The sole proprietors and each partner of a partnership are personally liable for all the debts of the business. Owners of a corporation, known as stockholders, have limited liability. They are not personally liable for the corporation’s obligations, unless the corporation is improperly operated and a creditor were to pierce the corporate veil.

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