When choosing a form in which to organize a business venture, it is always best to consult an attorney knowledgeable in the details of business forms and experienced in selecting the best business entity for your specific business venture.

Among the questions you should be prepared to answer when meeting your attorney are:

1. What are the products and/or services to be offered by the business venture?

2. Who will be the owners of the business venture, and who will be managing the business venture?

3. How will the business venture be capitalized both initially and in the next three years?

4. What is the projected net income (before owner's salaries) of the business in the first three years?

5. In what state will the business venture operate?

The foregoing questions are the bare minimum set relevant to choosing the form for a business venture, and alone will not necessarily derive the best business form for a particular situation. Different industries carry inherently different exposure to risk, and San Diego Corporate Law highly recommends balancing liability concerns with financial factors, such as the structure of taxation and the cost of business form ownership when choosing a business entity.