Business Maintenance
Lynnwood, WA Lawyers & Attorneys

A business only starts with the formation. To keep a Lynnwood business running, you must comply with Washington State (And/Or other states) maintenance laws. Businesses that do not stay up-to-date with required meetings and documents are vulnerable to tax liability and loss of limited liability.

Should your business lose its limited liability, those seeking legal action against it can pursue your personal assets. At Bountiful Law in Lynnwood, our business attorneys provide the necessary maintenance services to keep your business compliant and property safe.

Lynnwood, WA Business Lawyers and Attorneys

Lynnwood, WA Business Lawyers and Attorneys

Business Maintenance Services

  • Registered Agent: As your registered agent, we accept documents on behalf of your business, including annual reports, service of process, and other notices. 

 

  • Conducting Annual Meetings: Corporations must hold an annual shareholder meeting once a year where they address the following topics;
    • Election of directors when necessary 
    • The status of the corporation
    • Upcoming plans or projects
    • The annual report
    • Voting on essential issues
  • Drafting Documents: Every business needs documents that address internal operations. Two primary documents are corporate bylaws for S-Corps and C-Corps, and operating agreements for LLCs. 

All documents must be tailor-made to address the unique purposes and functions of your business. Therefore, "one size fits all" documents are not sufficient for continuity of practice and legal protection. Papers must be drafted with precision to ensure everyone - both inside and outside the company - understands the rules and expectations. Note the requirement differences between the two documents;

    • Corporate Bylaws 
      • Information regarding;
        • Identity, including whether it is a private or public entity
        • Statement of Purpose
        • Members
        • Board of Directors
        • Shareholders’ Meeting
        • Committees
        • Stock
        • Officers
        • Indemnification
        • Conflict of Interest
        • The procedure for bylaw amendments
    • Operating Agreement
      • The percentage of member's ownership
      • Voting rights and responsibilities 
      • Powers and duties of members and managers
      • Distribution of profits and losses 
      • Convene meetings
      • Buyout or buy-sell guidelines which decide the protocol for if a member passes away, becomes disabled, or wants to transfer their interest 
  • Filing Mandatory Documents with the Secretary of State: You must submit the correct documents with the Secretary of State to remain compliant with the law. Filing late may incur fees while failing to file can lead to the dissolution, or termination, of your business as a legal entity. Annual reports are one example of such documents. 

Maintain Your Lynnwood Business From The Start

The business attorneys at Bountiful Law focus on the legal requirements of your business so you can focus on building your business. Call today to schedule a consultation at 425-775-9700.

Lynnwood, WA Business Legal Services