Established Fort Worth Area (Haltom City, TX) Business Lawyer Assists with Corporate Formation

GETS YOUR TEXAS COMPANY STARTED ON A SOLID FOUNDATION

Texas is one of the best states in the country to start a new business. The Lone Star state has a strongly pro-business orientation and offers various incentives for businesses to start here or relocate. The costs to open and operate a business are moderate, and financing options are numerous. But in this competitive economy, a successful business needs reliable legal advice, especially during the planning stages. At the Law Office of Viviana Cavada, you get reliable advice from a seasoned business lawyer who is committed to your success. I work closely with you to review and finalize your business plan, and I help you make the right choices to give your new company a solid foundation for success.

YOUR BUSINESS ENTITY CHOICES IN TEXAS

YOUR BUSINESS ENTITY CHOICES IN TEXAS

Most businesses in Texas are structured as one of the following entities:

  • Sole Proprietorship - The simplest form of business entity is where a single individual owns and operates the company. The business may be conducted under an assumed name. However, the owner-operator has no protection from personal liability for claims against the business, and the owner reports income from the business on personal income tax returns.
  • General Partnership - When two or more persons associate to make a profit, this business form may be appropriate. This entity does not protect partners from liability for claims against the business, and one partner can be held personally liable for obligations the other partner made on behalf of the business. It is vitally important to draft a partnership agreement that avoids possible pitfalls.
  • Corporation - This choice creates a company that is an independent person in the legal sense. Owners are not personally liable for claims against the business. Through stock sales and lines of credit, this structure makes raising capital much easier.
  • Limited Liability Company - This is a distinct type of legal entity that has some features of a corporation and a partnership. Members are protected from claims against the company up to the limits of their investment. LLCs are fast becoming the most popular type of business entity in the country.
  • Limited Partnership - This type of partnership separates participants into general partners, who control most decisions, and other limited partners, who enjoy certain privileges under the partnership agreement. Limited partners receive greater protection than general partners do.
  • Limited Liability Partnership - This entity limits the liability for the general partners in a business association.

Many factors enter into a decision on choice of entity, such as ownership structure, tax planning, intellectual property rights, and your desire to sell the business for a profit at some time in the future. I work closely with you to identify your immediate and long-term goals and place your new enterprise on the firmest foundation possible.

WHEN SHOULD AN ONGOING BUSINESS RE-FORM?

Many entrepreneurs launch a business as a sole proprietorship but later want the liability protection of an LLC or the ability to raise capital that comes with a corporation. Partnerships may evolve to the point of requiring a new agreement and a new entity. In my practice, I help in the dissolution and re-formation of businesses so you can better match your structure to your goals.

Contact a knowledgeable business attorney in the Fort Worth, Texas area (Haltom City, TX).

If you are planning to launch a business in South and North Texas, the Law Office of Viviana Cavada can guide you through the process of formation. Contact my office online to arrange for a free consultation. My Fort Worth Area (Haltom City), Texas office is located at 4051 Denton Highway in the appropriately named Wisdom Center.