Fenton Law Group routinely assists providers in making the decision to form a business and entity, electing the appropriate form, and in the actual entity formation, including professional corporations, professional partnerships, limited liability companies, and nonprofit entities, such as mutual benefit and cooperative corporations.
Although some of the considerations as to the optimal form of business ownership are common across industries (including the size and scope of the business, the anticipated management and ownership structure, and tax considerations), healthcare presents certain unique entity formation requirements. For example, both federal and state law limit the extent to which physicians and non-physicians can co-own businesses. Similarly, California law significantly restricts the types of entities, which certain kinds of healthcare providers are permitted by law to operate. Healthcare professionals, for example, are limited by Corporations Code Section 13401et seq. to practicing through professional corporations. Other entities are limited to a specific non-profit form.
In addition to initial formation, Fenton Law Group also assists providers with ongoing oversight of and compliance with their corporate form. It is not enough to make the correct initial selection as to entity type; it is also important to maintain good and well-organized corporate records. Ask us for more information.