Business Law Attorney in Austin, Texas
Though I practice law in Austin, Texas, I know the importance of planning, creating, and growing a business carries to all Clients in the entire state of Texas. No matter your business needs, I am prepared to support and guide you through each process and help you plan, form, enhance and grow your business anywhere in Texas. Even though I have expanded my services through Houston, Dallas, and San Antonio, I have also represented clients from all over the United States and the world who are doing business or buying property in Texas. Call me to discuss your issues or needs and we can meet on Zoom if you like.
The type of business you have is defined by ownership, investors and investments, liability, and taxes. A few options you have include sole proprietorships, partnerships, corporations, LLCs, even trusts and more. If you want to know what kind of business will be best for you to build, reach out to me.
The most common business form, a sole proprietorship is a business with one owner. This can be a cheaper option, both when you first start and for tax purposes. However, it's important to understand that the owner holds full liability as a sole proprietor.
When you form a business with one or more individuals you are generally forming a partnership. It is possible to limit the authority of partners, or to require all partners to agree before the partnership is being bound to agreements. When forming your business partnership, make sure to include a written agreement. It is not only essential but can also give you legal protection. Also, it lets all partners understand the many aspects of your business and different expectations.
A corporation is a company (or group of people) that has a legal existence separate from its owners. Details are important in Operating Agreements or By-Laws; they delineate authority of various officers and directors, which can limit liability of others. Stocks have designations and ownership rights that may affect how distributions of profits are affected. There are many different types of corporations, so reach out for guidance.
Limited Liability Companies
A limited liability company (LLC) can be a great choice for many. LLCs have limited liability for those who invest monies into the stock of the corporation, while limited liability doesn’t always protect decision makers of the corporation. However, it’s important to note that each state has different statutes and regulations, so don’t face any legal questions or issues alone.
You can think of a Series LLC as an umbrella covering multiple sub-LLCs. Each sub-LLC is a sub company of the main company. Although each sub-LLC may have the same purpose, each one does something different, reports separately, and may have different managing members. Here are some purposes of a Series LLC:
It keeps people from having to repeatedly pay registration fees of generally the same company.
The IRS allows you to submit the taxes within the sub-companies with the main company, making it much easier to file.
Please note that there is a lot that goes into a Series LLC. To understand more, reach out today.
At the Law Office of Steve Davis, my goal is to provide you with the best service possible, including preparing you for your business by distinguishing names and preparing essential documents and contracts.
Creating or growing a business can take a lot of time. There are contracts, plans, paperwork, and time to bring your business to fruition. Reach out to me, and together, we can create a business plan with your goals in mind avoiding pitfalls and enhancing opportunities.
A non-disclosure agreement is also known as a confidentiality agreement. It protects sensitive information from reaching a non-authorized party.
Property Management Agreements
Protect your property with a property management agreement since a property management agreement may require insurance that also protects the owner. It should include details about the duties performed by the management, fees of the property manager, the legal liability of the manager, the responsibilities of the owner, the terms of the contract, and grounds for termination.
Office and Tenant Manuals
Office manuals help protect all parties involved. For Landlords they should include rules, regulations, and expectations of operations. The manual should include issues of signs, security, management, emergency procedures, leasing guidelines and more. Tenant manuals can clarify details of tenants’ rights and duties as a tenant that are not clearly explained in the Lease Agreement.
HOA Operating Agreements
HOAs are set in place to protect the owners and developers of condos, apartments, and neighborhoods. The goal is to create a safe, peaceful environment by providing rules, regulations, amenities, and keeping up appearances that adds value to property owners. It’s important that all parties involved clearly understand the rules and regulations.
Note that there are different rules for condo regimes vs. property owners or developers. An attorney can help you understand the differences in more depth.
An investor agreement can benefit partnerships, LLCs, investors, and more. The investor is able to invest in the business, thus allowing the business to both start and grow, and in turn, the investor can expect a projected return of investment (ROI). An investor agreement document should include the percentage of shares, protected interests, what will happen in the case of possible disputes and pitfalls, profit sharing and more.
One option is to use a letter of intent (LOI). This is a normally a non-binding offer to purchase real estate. Most LOIs are non-binding, but a binding LOI is possible, so reach out for guidance on how to move forward in making and accepting offers.
Sale of a Business
Selling a business involves many steps, including lots of paperwork, but each step is important. The contract created should be clear and binding. It should legally delineate the parties involved, details of the assets, potential liabilities, disclosures, legally binding signatures, and many other details that an attorney can help you create, review or amend.
Review of Existing Agreements
If you need to revisit or review an existing agreement, reach out to me today. Reviewing your real estate ownership documents, corporate operating agreements, vendor contracts, leases, or any other legal agreement at any stage of ownership or operation can be helpful, but especially as circumstances change.
Business Law Attorney in Austin, Texas
My services reach from Austin, Texas, to Houston, Dallas, San Antonio, and to anyone doing business or planning to do business in Texas. Whether you're looking for guidance while forming your business, need help with dissolution, or anywhere in between, I am here to guide you. Reach out today, and schedule a meeting directly with me.