Business Lawyer – Important During All Stages Of A Business
Experienced legal counsel is invaluable to businesses of all sizes. From the inception of the business to the final day of ownership, it’s impossible to do business without the complications of a wide variety of legal issues, each of which can have far-reaching and expensive consequences. A business lawyer who is familiar with the goals and problems of the business will be in the best position to advise on these issues.
Business Start-Up Services
One of the most consequential decisions that an entrepreneur can make is to decide on the legal form of the business. Each choice has pros and cons, making it necessary to weigh tax consequences and potential liability. No business entity choice is best for everyone, so sit down with a business law attorney at Boznos Law and weigh the possibilities. Choose the business form type that will be most helpful in achieving the goals of your business.
C Corporation: This is the standard corporation, with a legal and tax structure that is separate from the owner of the business. There can be an unlimited number of shareholders. Both profits and dividends are taxed.
S Corporation: These are very popular for smaller businesses that want the advantages of the separation of personal assets and business debts. The number of potential shareholders is limited. Owners must include their portion of profits or losses on their personal tax returns.
Limited Liability Company (LLC): LLCs also offer legal separation of personal assets from business debts. If an LLC has one owner, it is taxed similarly to a sole proprietor. If there are multiple owners, it is taxed like a partnership.
Partnership: In a partnership, the partners are personally liable if a lawsuit is filed against the business. However, partnerships are easy to form, relying on a Partnership Agreement. Partners report profits and losses on their own tax returns.
Stock Purchase: Many people choose to invest in a business by buying some or all of the company’s stock.
Asset Purchase: Another way to buy a business is to buy the assets.
Joint Venture: A joint venture is the formation of a new business by two or more parties who remain separate entities.
Preparation and Review of Business Contracts
The founding attorney of Boznos Law Office, William P. Boznos, has significant experience with drafting, reviewing, and negotiating contracts. One of the guiding rules of successful entrepreneurs is to never sign any contract until it’s reviewed by an attorney.
Some of the contracts that are critical for businesses include:
* Franchise Agreements
* Shareholder Agreements
* Partnership Agreements
* Buy and Sell Agreements
* Property Agreements
* Service Contracts
* Employment Agreements with Restrictive Covenants
* Marketing Agreements
* Operating Agreements
Buying and Selling a Business
Either buying or selling an established business is a very complex transaction involving multiple stages in the process. Boznos Law has the necessary experience to advise all aspects of the transaction, including the following:
* Structuring the transaction
* Negotiating the terms of the deal, reflected in the Deal Memorandum
* Advising either buyers or sellers on issues raised during the due diligence process
Boznos Law stands ready to assist entrepreneurs with all of the legal issues of a growing business. Counsel is offered on all aspects of business law, including the formation of the business, negotiation and enforcement of contracts, trademark protection, and licensing issues. When the time has come to buy or sell a business, Boznos Law will help to negotiate the complicated process to its conclusion. Let us become your trusted legal adviser.