Business and commercial disputes, by their very complex nature, have become ever more challenging to navigate. The team of Wyoming attorneys at Burg Simpson’s Cody office have decades of experience in business and commercial litigation that is valuable when advising our clients about their legal rights. We’ve represented Fortune 500 companies, medium corporations, family-owned businesses, and individuals in business and commercial legal matters.
We’ll provide you with aggressive, results-oriented advocacy both inside and outside of the courtroom. If you’re caught in a business law dispute over a commercial matter, contact a Burg Simpson business attorney at 307-527-7891 or complete our Free Case Evaluation form today.
Businesses in Wyoming can come in several different forms, including:
- Sole proprietorship: This business is essentially the same as the owner. The assets and liabilities of the business are the same as the owner. Wyoming doesn’t have a mandatory filing requirement, but a sole proprietor may register a trade name.
- General partnership: This is an association of at least two people. Any partner may bind all other partners jointly and severally.
- Limited partnership: This consists of two or more partners. The general partner or partners manage the business and are liable for debts incurred. Limited partners, however, are only liable to the extent of their investment.
- Corporation: Perhaps the most common business entity, corporations are separate entities that are allowed to own assets, sue or be sued, transfer ownership easily, borrow money, mortgage assets, and file for bankruptcy. Both profits and dividends are taxed, and these entities also can be held responsible for criminal activities.
- Close corporation: This designation is meant for small family businesses and is limited to 35 or fewer shareholders.
- Limited liability company: This is a business entity composed of two or more members.
- Close limited liability company supplement: This is a lot like a close corporation, and is established for family businesses and provide LLCs with “continuity of life that contains restrictions on transferability of interests and withdrawal of contributions.”
- Statutory trust: A statutory trust is a “business trust” type of entity, typically established for investment companies, such as real estate investment trusts.
- Wyoming limited liability company: This corporation-limited partnership hybrid provides protection from personal liability while enjoying the tax benefits of a limited partnership without any restrictions on the citizenship or numbers of members.
- Registered limited liability partnership: This relatively new types of partnership that “combines favorable flow‐through tax liability now enjoyed by general partnerships with limitations on the liability of the partners. A LLP is taxed like a partnership, meaning that tax liability flows directly through to the owners and the entity itself is not taxed.”
If you’re looking to launch a business – or you’re part of a business that’s in a period of transition – don’t spend another day without consulting professional legal assistance. Call a Wyoming civil litigation lawyer as soon as possible at 307-527-7891.
Burg Simpson Wyoming Offers a Free Consultation
Our team of lawyers in Cody Wyoming has more than 40 years of experience in business law to provide effective and efficient legal counsel to our clients. If you need strong courtroom advocacy in a business or corporate matter, we’re the team you need on your side. Call us at 307-527-7891 or fill out our Free Case Evaluation Form here if you need helping negotiating a business or commercial deal.