Complex and lesser-known legal topics broken down into straightforward insights to help Texans better understand their rights and options.
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Contracts: Drafting and Review
It’s easy to forget your umbrella until it rains. Contracts are meant to protect you from the unexpected – when a shipment doesn’t arrive or a customer doesn’t pay a bill. Are you using contracts you downloaded from the internet? Or worse – relying on handshake deals? You could be setting yourself up for trouble.
A bad contract can cause a major headache and derail your hard work. An attorney can help ensure your contracts avoid common pitfalls while you achieve your goals.
Limited Liability Companies (LLCs)
Are you running your business as a sole proprietor?
Creating a business entity like an LLC preserves your flexibility to do business, while protecting you from the company’s debts and liabilities. The LLC essentially becomes its own legal person, so if someone brings a lawsuit because of your business, it must be brought against the LLC instead of you, which protects your personal assets.
Operating Agreements
Do you have business partners? Your operating agreement determines how your LLC is organized and the the LLC will be organized, by setting out:
the way owners will share profits and losses
how owners will make decisions and resolve disputes;
buy-sell provisions in case one owner’s interests are at risk
To write an effective agreement, you will need to think through all practical scenarios and address how each will be handled. An experienced attorney can help navigate the process and get it right.
