Structuring your business
If you are a business owner or aspiring entrepreneur, one of the most important legal issues to consider is how you structure your business. There are a wide variety of entity forms to choose from. Each form has advantages and disadvantages in terms of simplicity, flexibility, cost (both to form and to operate), taxation, control, continuity, ownership transferability and liability protection.
The Hale Law Firm can assist you in selecting the right business entity for your business start-up or professional practice. Our experienced Texas business law attorneys offer assistance with the following types of entities:
- Limited Liability Company (LLC);
- Series Limited Liability Company (SLLC);
- Professional Limited Liability Company (PLLC);
- Corporation (C-corporation and S-corporation);
- Non-profit Corporation;
- Professional Corporation (PC);
- Professional Association (PA);
- Limited Partnership (LP);
- Registered Limited Liability Partnership (LLP); and
- Business Trust
Once an entity is formed, management and investors should adopt governing agreements addressing such issues as: capitalization, election of officers, management responsibilities, tax matters, restrictions on transfer of ownership, voting rights, distributions, and winding-down the business. We regularly prepare:
- Company Agreements
- Partnership Agreements
- Trust Agreements
- Buy-Sell Agreements
Critical to this process is making sure that you do not violate state or federal securities laws.
It is important to understand that you can lose your limited liability protection if a court finds that you are using your business entity to defraud someone, or that you have not taken appropriate steps to keep your business separate from your personal affairs. You need to work closely with your lawyer and tax professional to ensure continued limited liability protection. To this end, The Hale Law Firm offers General Counsel and Consulting Services.
We offer competitive flat fee rates for entity formation and document preparation services. Call us today to schedule a free initial consultation to identify the most advantageous entity structure for your business.