Business Entities for Student Optometric Practice Management Association

University of Houston

By Bob Goss, J.D., LL.M.

January 24, 2009

Overview:

This presentation was tailored to optometric doctors and why they should hire an attorney to help form a business entity. Eleven different business entities were discussed. General provisions included state requirements, tax and employment, liability, and what type of business entity might be best for them.


The presentation discussed analysis of specific requirements and the initial steps to form a business entity. The categories of business entities included: sole proprietorships, partnerships, corporations, and professional.


The business entities that were presented were: sole proprietorship, general partnership, limited partnership, limited liability partnership, limited liability corporations, S corporations, C corporations, professional limited liability corporation, professional corporation, and professional associations.


A summary of the advantages and disadvantages for: general partnerships, limited liability partnerships, LLC, professional association, nonprofit corporations, and for-profit corporations concluded the presentation.