Houston Business Lawyer
Building a successful business is never an easy task, especially when it involves multiple employees, complex products, numerous suppliers, and difficult customers. And with an ever-changing business environment, unless you have proper legal counsel, the future of your business could be at unnecessary risk. Fortunately, an experienced Houston business lawyer can help you reduce your legal liability and structure your company to give you the greatest chance of success.
Business Laws in Texas
Texas is known as one of the best states for startups and small businesses because of its no income taxes, low business taxes, and friendly business economy. However, there are still many legal considerations you should make before opening a business in Texas, such as employment laws and the type of business you plan to operate.
Texas taxes businesses based on the type of business and how it is legally structured. For example, a general partner will be subject to more business tax liability than a shareholder of a corporation. If you are starting a Texas business, an experienced business attorney can help you decide which legal entity structure is right for you.
The four main types of legal entities
- Sole Proprietorship – The most basic type of business enterprise that is run and owned by a single person and in which there is no legal distinction between the business entity and the owner.
- Partnership – A business owned by two or more people, who share equal or proportionate ownership, and work towards advancing a common interest. There are three types of partnerships:
- Limited Partnership – Ownership which is relative to the owner’s investment in the business.
- Limited Liability Partnership (LLP) – A limited partnership but with beneficial liability, debt, and tax treatment for limited partners.
- General Partnership – Shared ownership among business owners.
- Corporation – An organization that is treated by the state as a legal person and whose owners, called “shareholders,” are shielded from liability.
- Limited Liability Company (LLC) – A business structure that combines the limited liability of a corporation with the pass-through taxation of a sole proprietorship or partnership.
Benefits of an Attorney
Small business owners who try to manage legal matters on their own often run the risk of ruining their business. In the process, they frequently create unnecessary legal liability for themselves, their business, and their employees. The cost savings here just isn’t worth it.
Retaining an experienced Houston business lawyer early on is a wise move. Not only can they save you time and money in the long run, you can rest assured that your complex law matters are handled by a knowledgeable legal professional, allowing you to focus on growing your business. No matter what stage your business is in, startup or well-established, do not delay in consulting with an attorney. A business lawyer in Houston can evaluate your unique situation and help you achieve your desired results.
Houston Business Lawyer
- Corporate Formation
- Partnership Agreements
- Capital Raises & Financing
- Business Purchase and Sale
- Trade Secrets
- Business Dissolution
- Partnership disputes
- Unfair business practices
- Breach of contract