LLCs, Ltds, FLPs, Corporations, Partnership, Non Profits, Other Business Entities
Are you starting a new business or non profit for the first time? Are you an experienced business person interested in business succession planning, help maintaining or incorporating your current business, facing disputes, encountering problems or dealing with the many other legal issues that face business people in Texas today. We are Here to Help with all of you Business Law Needs. Our two generations of legal experience in business law and roots in the Rio Grande Valley give us the ability to help you start, operate, grow or relocate your business.
Starting a New Business?
When starting a new business, you will face many important decisions and one of the first is selecting the right type of entity for your business. We can help you ensure that your company is on the right path from the start by helping you choose the right business entity for your business. From young entrepreneurs starting their first business to seasoned businessmen and businesswomen starting new businesses, we can help you select the entity that will give you the most liability protection, the best structure, the best tax treatment and highest chance of success. We can help you create your company to reflect your management style, capital requirements, and your ultimate goals and objectives. We will explain the benefits and limitations of available business entities, and help you feel confident in your final decision. Whether establishing a for-profit or not-for-profit business, an LLC, LLP, Ltd., FLP an S-corporation or C-corporation, we can help.
What Business Type is Right for Your Business?
The Limited Liability Company (LLC) is by far the most widely used business entity in Texas. It was created to be the premier business entity in Texas for small business and it has lived up to is expectations. It ease of operation, liability protection characteristics and tax treatment make it the logical choice for many Texas business owners. Other business entities such the limited partnership (Ltd) and family limited partnership (FLP) are often times a smart choice instead of an LLC, especially in the estate planning context. Though less used today, a traditional C-Corporation or S-Corporation still have a place in Texas business and may be the right choice for you. For doctors operating a practice, a Professional Association (PA) is required. For lawyers and other professionals operating a practice, a Professional Limited Liability Company (PLLC) or the Limited Liability Partnership (LLP) is the right choice. We will educate you on the law and advantages of your business entity in the process so that you can be a better steward of your business. We will discuss the structure of your entity, how it can protect you from liability and the tax implications involved.
Need Help With an Existing Business? We are also here to help you with matters related to businesses that already exist or dealing with an existing business. We provide many services and counsel regarding your ongoing business needs.
The Dangers of Not Having Proper Business Entity
(The Default and Dangerous Business Entities)
Any person can start a business by offering their services to the public and starting to do business. Nothing else is required. This is the easiest way to go into business. However, it is also the most dangerous because there is no separation between the individual and the business. Since you did not chose a limited liability entity structure through the State of Texas, state law chooses one for you. Your business will be considered a sole proprietorship or a general partnership. That means you will have no liability protection for you business or personal assets and be subject to many other rules of which you are likely unaware. Both your business and non exempt personal assets will be liable for claims and judgements against you or any of your business partners or employees.
To protect you business, dreams and family, the most important thing you can do is choose the business entity that is right for you and ensure it is properly existing under the laws of the State of Texas. The choice to do nothing is a choice none the less, one that will not stand you in good stead.
Ongoing Business Services – After your entity has been formed, you will encounter many challenges in your business journey and encounter issues in which the advice of an attorney will be necessary and beneficial. We can advise you on your on going businesses needs including:
- Assumed Name Certificates
- Contract Negotiations
- Buy-Sell Agreements
- Employment agreements
- Non Compete Agreements
- Partnership and Joint Venture agreements
- Commercial lease agreements
- Drafting, reviewing and negotiating vendor agreements and sales contracts Preparing articles of incorporation, by-laws and corporate resolutions Enforcing a contract or resolving a business dispute
- Business succession planning
- Buying, selling or leasing real estate
- Defending or initiating construction defect claims
- Commercial and business litigation and transactions
- Construction Litigation Contracts