How a Business Attorney Can Help Your Company Take the Next Step in 2019
There are numerous laws and regulations that help shape the business world, from overlooking business formation to taxation, employment, mergers and acquisitions, and even divestment. Breaking any one of these can lead to dire consequences for both a business and its owners, which is why we recommend working with an experienced business attorney from the very beginning of your business.
A good business attorney will do much more than simply protect your business from unforeseen liabilities. An experienced business attorney can help a business owner effectively plan for the future and grow his or her business faster and more effectively than it otherwise could have without expert legal advice and services. Every day, Stibbs & Co. helps businesses in the Houston area and across the country succeed in achieving their unique visions of success.
When the legal team at Stibbs & Co. talks to potential clients, they often want to know exactly how we plan to help them grow and protect their businesses. While we provide assistance with many critical tasks to clear the runway for our clients’ growth to take off, here are the five areas of focus with which we start:
Creating Your Business
The practice known as “choice of entity” is a crucial step every business owner must take. Should you form your business as an LLC? A corporation? If so, what kind? Both entities can shelter your personal assets from creditors, but they are otherwise very different from one another. Furthermore, there are multiple ways to structure both limited liability companies and corporations in Texas. An experienced business attorney will advise you on which entity is right for your business and explain the potential pitfalls.
Drafting Corporate Governance Documents
Corporate governance documents describe, govern, and constrain the activity of business owners. They outline the rules and communicate to everyone involved how things should go and what should happen when a particular circumstance arises. Corporate governance documents are unique to each business.
It is critical to have these documents if your company has two or more owners, shareholders, or partners. Here are some governance documents that we recommend to our clients:
- Operating Agreements
- Buy-sell Agreements
- Capital Call Agreements
- Non-disclosure Agreements (NDAs)
- Covenants Not to Compete
No two businesses are alike, and no two sets of governance documents should be alike. To create and maintain the documents your business needs to stay in compliance with its legal obligations, consult an experienced business attorney.
Business Advice and Protection from Costly Mistakes
A good business attorney both applies the law and provides counsel on it. For a growing company, a business lawyer will be most helpful providing counsel on various issues to deal with problems as they arise or, better yet, avoid them in the first place.
Contracts are a critical area in which business owners often need the most regular help from an attorney. As a business owner, you should have a business lawyer who is familiar with your business draft your contracts and review contracts given to you before signing.
Succession planning allows all partners to come to an agreement about what will happen when one of the owners retires or leaves the company. Succession planning usually happens when one partner starts thinking about retirement. Smart, professional succession planning prevents chaos, indecision, and infighting during delicate times of transition and can make all the difference to the future of a business.
Representation in Litigation
A good business attorney will do all in his or her power to help your business avoid litigation entirely. Litigation is typically costly, lengthy, and stressful for all parties. By being proactive and working with a business attorney from day one, it is often possible to sidestep potential landmines that could otherwise harm your business. If and when a lawsuit becomes unavoidable, however, the attorneys of Stibbs & Co. are experienced trial lawyers who will fight for you.
Is your business preparing for significant growth in the new year? We can help. Contact Stibbs & Co. today for a consultation on how we can help your business reach the next level of success in 2019.