LLC Review

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 2,801 reviews

Jump to Section

Need help with an LLC?

Post Project Now

What Is an LLC Review?

An LLC review involves a lawyer reviewing a limited liability company agreement or overseeing an LLC formation for a small business.

When you create a new business, you also create a new legal business entity. You can have LLCs as sole proprietorships or an LLC as multi-member LLCs. You will also need a cofounder agreement if you have an LLC with partners.

Working with a lawyer to review your LLC documentation can ensure your business is legally compliant and protects your best interests.

The primary reason for establishing an LLC is to keep your business separate from your finances. In addition, a separate business entity comes with tax benefits and legal protection if someone ever sues your company.

Here is an article that defines a limited liability company.

Types of LLCs

There are 8 types of LLC structures to know:

  1. Sole Proprietorship. This type of LLC has one founder and sole owner. It is ideal for independent business owners or a 1099 independent contractor who wants to separate their work from their name.
  2. Multi-member LLC. If multiple people manage the LLC, they need a multi-member limited liability agreement. This type of LLC is ideal when a company has different types of members, like investors and outside management.
  3. Domestic and Foreign LLCs. Domestic LLCs do business solely in their jurisdiction; foreign LLCs work in multiple states. For example, suppose you live in California but conduct business in New York. Your LLC is considered foreign in NY. You only have to register as a foreign LLC if you have a physical business site in a state you don’t live in or if you trade full-time in that state.
  4. Series LLC. A series LLC is one business entity with several smaller LLCs beneath it. Each LLC is its series with its members and assets. Accordingly, each series has its business obligations, and adverse outcomes are less likely to affect other LLCs within the series. A business owner who wants to open multiple branches or separate properties can set up a series LLC to reduce personal liability and protect their other assets.
  5. L3C Company (Low-profit LLC). A low-profit LLC is a new business entity created for charitable purposes. L3C companies are usually LLCs founded by enterprises to attract philanthropic investors. L3C laws vary by state, and they can currently only be incorporated in Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missouri, North Dakota, Rhode Island, Utah, Vermont, and Wyoming.
  6. Anonymous LLC. An anonymous LLC allows someone to establish a legal entity without identifying its owners or members. You may establish an anonymous LLC to protect your personal information from public records. Some companies operate anonymous LLCs to prevent their involvement or investment with other companies from becoming known to the public. Anonymous LLCs do not prevent you from paying taxes, and you may have to identify yourself if the LLC is ever sued.
  7. Restricted LLC. Nevada established the first restricted LLC business entity in 2009 and is currently the only state allowing this type of LLC. Restricted LLCs are for individuals with multiple properties who want to prevent assets from liquidation. You can transfer your restricted LLC assets to family members, but you must wait 10 years. The amount of assets someone can transfer to their family is limited by state.
  8. PLLC. A PLLC, or a professional limited liability company, allows professionals with state regulatory licenses to form their business entity. Professionals who can form a PLLC include medical professionals and lawyers. California does not permit PLLCs; members must form a limited liability company or corporation if they want to operate a shared business entity.

LLC vs. Partnership

An LLC is its business entity, but multiple people with legal obligations own a partnership. A general partnership places liability on the business owners. Still, an LLC faces legal examination entirely on its own in a lawsuit. While the others are still responsible for using their LLC assets to pay legal fees, their assets remain separate.

LLC vs. Corporation

Shareholders own a corporation, and an LLC is owned by the people who founded it. If you buy an LLC, you assume ownership over that business entity. It has no shareholders who govern its decision-making or influence its business model. LLCs combine limited liability with a pass-through tax structure, meaning that you pay taxes on your own based on your shares in the business. Corporations are their taxable entities.

Here is an article with more information on LLCs vs. corporation laws.

What Types of Lawyers Set Up LLCs?

Corporate lawyers handle LLC formation and can help you create a new business. They can handle everything from drafting a limited liability company agreement to legally naming an LLC and negotiating terms with multiple members.

A corporate lawyer will be your most valuable resource if you are forming a small business for the first time. They can counsel you on all the legal requirements of your company and help you organize all the contracts you need.

If you ever want to raise capital or have classes of stock, a correlate lawyer can also be of service.

Here is an article about hiring a lawyer for an LLC.

Meet some lawyers on our platform

John P.

7 projects on CC
View Profile

Briana C.

43 projects on CC
View Profile

Max M.

105 projects on CC
View Profile

Daehoon P.

76 projects on CC
View Profile

Benefits of Having a Lawyer Set Up an LLC

Working with a lawyer provides a number of benefits when starting a new business.

  • Less stress. You can avoid all the stress and headaches of trying to form your own business and let a lawyer manage all of the documentation for you.
  • Legal guidance. Working with a lawyer to set up your LLC provides legal advice about your business's operating structure. This can help you avoid any confusion regarding taxes and legal liabilities.
  • Manage high-level LLCs more easily. If you are a corporation or enterprise forming an LLC, working with a lawyer is the best way to provide maximum legal protection for your business.
  • Create legally binding agreements for members. If you form a multi-member LLC with others, you may also want to include a cofounder agreement. Again, having a lawyer on your side can help you establish clear expectations and requirements for members of the LLC.

Here is an article about things to do before forming an LLC.

How Much Does It Cost to Review an LLC?

You will have to pay a lawyer’s hourly rate to review a limited liability corporation agreement. Corporate lawyers charge $300 to $750 an hour for their services. The ContractCounsel marketplace can help you connect with attorneys near you and compare their rates.

Here is an article about limited liability companies with more details on what to include in your business entity.

What is the Best LLC to Get?

Your business's best type of LLC will depend on your company’s structure. For example, a sole proprietorship LLC is sufficient if you are a freelancer or entrepreneur. On the other hand, you may want to establish a multi-member LLC if you have multiple members or co-owners.

Corporations founding LLCs will likely opt for series LLCs or even an anonymous LLC in some cases.

Consulting with a corporate attorney can help you determine the best type of LLC for your business needs.

Here is an article with information on choosing the proper business structure.

Why is an LLC the Best Option?

LLCs are great business structures because they minimize your liability while offering pass-through taxation. In addition, you can receive certain tax benefits as an LLC owner vs. an independent taxpayer.

Furthermore, LLCs grant you legal protection in the event of lawsuits. Rather than being held entirely responsible for any claims brought against your business, the LLC acts as a protective barrier. This ensures assets such as your bank account, car, and home.

Here is an article with more benefits of LLCs.

Post a project in ContractsCounsel’s marketplace to receive flat fee bids from lawyers for your project. All lawyers have been vetted by our team and peer-reviewed by our customers for you to explore before hiring.

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Lawyers

Jeff C. on ContractsCounsel
View Jeff
Member Since:
July 31, 2020

Jeff C.

Outside General Counsel / Business Attorney
Free Consultation
Get Free Proposal
35 Yrs Experience
Licensed in CO, OR
University of Oregon

Experienced and broad based corporate/business attorney and Outside General Counsel (OGC), for start-ups, small businesses and growing companies of all sizes, advising and assisting clients with corporate and LLC formation, contracts and agreements, internet and terms of use/service agreements, trademarks and intellectual property protection, the purchase and sale of businesses (M&A), labor and employment matters, compliance and risk management, corporate governance, and commercial leasing matters. See other reviews on my website at

Christopher J. on ContractsCounsel
View Christopher
Member Since:
August 3, 2020

Christopher J.

Attorney and Counselor at Law
Free Consultation
Get Free Proposal
Ann Arbor, MI
23 Yrs Experience
Licensed in MI
Detroit College of Law at Michigan State University

Experienced attorney focusing on estate planning, probate administration, business formation and counseling, and consumer bankruptcy.

Paul S. on ContractsCounsel
View Paul
Member Since:
August 4, 2020

Paul S.

Free Consultation
Get Free Proposal
Cincinnati, OH
36 Yrs Experience
Licensed in CA, OH
Boston University

I focus my practice on startups and small to mid-size businesses, because they have unique needs that mid-size and large law firms aren't well-equipped to service. In addition to practicing law, I have started and run other businesses, and have an MBA in marketing from Indiana University. I combine my business experience with my legal expertise, to provide practical advice to my clients. I am licensed in Ohio and California, and I leverage the latest in technology to provide top quality legal services to a nationwide client-base. This enables me to serve my clients in a cost-effective manner that doesn't skimp on personal service.

Matthew S. on ContractsCounsel
View Matthew
Member Since:
August 5, 2020

Matthew S.

Free Consultation
Get Free Proposal
Flemington, NJ
38 Yrs Experience
Licensed in NJ, NY
Benjamin N. Cardozo School of Law (Yeshiva University)

I am a 1984 graduate of the Benjamin N Cardozo School of Law (Yeshiva University) and have been licensed in New Jersey for over 35 years. I have extensive experience in negotiating real estate, business contracts, and loan agreements. Depending on your needs I can work remotely or face-to-face. I offer prompt and courteous service and can tailor a contract and process to meet your needs.

Tim E. on ContractsCounsel
View Tim
Member Since:
August 12, 2020

Tim E.

Founding Member/Attorney
Free Consultation
Get Free Proposal
Cleveland, OH
8 Yrs Experience
Licensed in OH
Cleveland-Marshall College of Law

Tim advises small businesses, entrepreneurs, and start-ups on a wide range of legal matters. He has experience with company formation and restructuring, capital and equity planning, tax planning and tax controversy, contract drafting, and employment law issues. His clients range from side gig sole proprietors to companies recognized by Inc. magazine.

Curt L. on ContractsCounsel
View Curt
Member Since:
August 13, 2020

Curt L.

Business Attorney
Free Consultation
Get Free Proposal
Houston, TX
32 Yrs Experience
Licensed in TX
South Texas College of Law Houston

For over thirty (30) years, Mr. Langley has developed a diverse general business and commercial litigation practice advising clients on day-to-day business and legal matters, as well as handling lawsuits and arbitrations across Texas and in various other states across the country. Mr. Langley has handled commercial matters including employment law, commercial collections, real estate matters, energy litigation, construction, general litigation, arbitrations, defamation actions, misappropriation of trade secrets, usury, consumer credit, commercial credit, lender liability, accounting malpractice, legal malpractice, and appellate practice in state and federal courts. (Online bio at

Jaren J. on ContractsCounsel
View Jaren
Member Since:
August 13, 2020

Jaren J.

Free Consultation
Get Free Proposal
23 Yrs Experience
Licensed in MN
University of South Dakota School of Law

Real Estate and Business lawyer.

Davis S. on ContractsCounsel
View Davis
Member Since:
August 16, 2020

Davis S.

Free Consultation
Get Free Proposal
Minneapolis, MN
19 Yrs Experience
Licensed in MN
Mitchell Hamline School of Law

Davis founded DLO in 2010 after nearly a decade of practicing in the corporate department of a larger law firm. Armed with this experience and knowledge of legal solutions used by large entities, Davis set out to bring the same level of service to smaller organizations and individuals. The mission was three-fold: provide top-notch legal work, charge fair prices for it, and never stop evolving to meet the changing needs of clients. Ten years and more than 1000 clients later, Davis is proud of the assistance DLO provides for companies large and small, and the expanding service they now offer for individuals and families.

Braden P. on ContractsCounsel
View Braden
Member Since:
August 18, 2020

Braden P.

Free Consultation
Get Free Proposal
Kansas City, MO
20 Yrs Experience
Licensed in KS, MO
University of Kansas School of Law

Braden Perry is a corporate governance, regulatory and government investigations attorney with Kennyhertz Perry, LLC. Mr. Perry has the unique tripartite experience of a white-collar criminal defense and government compliance, investigations, and litigation attorney at a national law firm; a senior enforcement attorney at a federal regulatory agency; and the Chief Compliance Officer/Chief Regulatory Attorney of a global financial institution. Mr. Perry has extensive experience advising clients in federal inquiries and investigations, particularly in enforcement matters involving technological issues. He couples his technical knowledge and experience defending clients in front of federal agencies with a broad-based understanding of compliance from an institutional and regulatory perspective.

William F. on ContractsCounsel
View William
Member Since:
August 18, 2020

William F.

Free Consultation
Get Free Proposal
Denver, CO
16 Yrs Experience
Licensed in CO
University of Wyoming

William L Foster has been practicing law since 2006 as an attorney associate for a large litigation firm in Denver, Colorado. His experience includes drafting business contracts, organizational filings, and settlement agreements.

Terence B. on ContractsCounsel
View Terence
Member Since:
August 22, 2020

Terence B.

Free Consultation
Get Free Proposal
Orlando, FL and New York, NY
11 Yrs Experience
Licensed in FL, NY
Georgetown University Law Center

Terry Brennan is an experienced corporate, intellectual property and emerging company transactions attorney who has been a partner at two national Wall Street law firms and a trusted corporate counsel. He focuses on providing practical, cost-efficient and creative legal advice to entrepreneurs, established enterprises and investors for business, corporate finance, intellectual property and technology transactions. As a partner at prominent law firms, Terry's work centered around financing, mergers and acquisitions, joint ventures, securities transactions, outsourcing and structuring of business entities to protect, license, finance and commercialize technology, manufacturing, digital media, intellectual property, entertainment and financial assets. As the General Counsel of IBAX Healthcare Systems, Terry was responsible for all legal and related business matters including health information systems licensing agreements, merger and acquisitions, product development and regulatory issues, contract administration, and litigation. Terry is a graduate of the Georgetown University Law Center, where he was an Editor of the law review. He is active in a number of economic development, entrepreneurial accelerators, veterans and civic organizations in Florida and New York.

Find the best lawyer for your project

Browse Lawyers Now

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call