One of the first significant decisions made as a Texas small business owner is choosing the right type of entity for your business. LLCs or limited liability companies enjoy increasing popularity in Texas. LLCs in Texas offer the protections of corporations with the flexibility of a partnership. Also, LLCs are not subject to the in-depth filing requirements demanded of...
Continue ReadingRunning your own business can be rewarding work. For many, it’s a dream come true. But if you currently own a business, or even if you are in the early stages of starting your own business, you know just how much there is to do and how complicated it can be. Regardless of where you are in the business...
Continue ReadingThere are dozens of websites that offer legal document templates – including business partnership agreements – for low or no cost. The cost of a lawyer may tempt business owners to use these templates rather than hire legal counsel, especially when it comes to forming a simple business entity like a partnership. Unfortunately, however, using a legal DIY template...
Continue ReadingContracts exist to help businesses and individuals set expectations for their professional relationships. Texas employment contracts are no different and are an important part of any small business. When drafting an employment contract, Texas businesses must be careful. Not everything that a business owner may want to include is enforceable. Therefore, having a basic understanding of Texas employment contract...
Continue ReadingThe novel coronavirus pandemic is making life difficult for small business owners. Many of our clients are struggling to manage newly-remote employees who have been forced to work from home due to shelter-in-place orders, applying for emergency financing, weighing employee layoffs, and fighting to keep their doors open. For many businesses, monthly rent is the largest line item in...
Continue ReadingEDITOR’S NOTE: THIS IS A GUEST POST BY JOHN FINCHER, A CERTIFIED BUSINESS INTERMEDIARY IN AUSTIN, TEXAS. JOHN IS NOT AN ATTORNEY, BUT WE ASKED HIM TO SHARE SOME THOUGHTS WITH OUR READERS WHO MAY BE CONTEMPLATING SELLING A BUSINESS. CLICK HERE TO LEARN MORE ABOUT JOHN. 1. SELLING A BUSINESS IS A COMPLEX PROCESS AND CAN TAKE 9 MONTHS OR...
Continue ReadingForming a business entity provides business owners with many advantages: liability protection, tax flexibility, access to capital, and more. But there is at least one downside: occasional junk mail. If you’ve recently incorporated, an “Important Notice” may arrive in an official-looking envelope informing you that you must post various labor notices in your workplace or face fines. Conveniently, they include...
Continue ReadingOne of an entrepreneur’s first legal decisions often is deciding to create a limited liability company (“LLC”). This can be a great decision as it helps provide a limitation on the entrepreneur’s personal liability. But filing the paperwork to create an LLC is the beginning of the formation process, not the end. In order to preserve the limited liability...
Continue ReadingContracts are a part of everyday life. Buying a phone, joining a gym, opening a bank account — all typically require you to sign a contract. For most people, signing agreements or clicking to “accept our terms and conditions” is simply routine. At times, this carelessness can come back to haunt us. It costs how much to cancel my...
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