Legal Question in Business Law in Missouri

Re: legalities of being incorporated

One of the main purposes of incorporating a business is to protect the individuals involved from personal liability. If your brother has a business which is not yet incorporated, then he (and possibly you too) need to consult with legal counsel. Many attorneys will provide a consultation for a very modest fee or even no charge at all. Unfortunately, your question does not really give enough information for an attorney to provide very helpful advice. Do you intend to be a part owner of the business, or are you simply making a loan to the business? If the business is incorporated, are you going to be an officer, a director, or simply a shareholder? Usually, when a new corporation seeks a bank loan, the lender either requires some collateral to secure the loan or at least the personal guarantees of the individuals involved since the corporation itself has not had an opportunity to establish its own credit. I have incorporated over one hundred businesses, and represented them through the course of their regular business for many years. I have also assisted many people in setting up businesses in other forms of business organization. Your needs might be better served with a partnership or a joint venture. We also have Limited Liability Companies under the law now in Missouri. If you, or your brother, would like a free telephone consultation you may call me at 314-727-2822.