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An operating agreement, also called a "company agreement" in Texas, is the internal rulebook for your LLC. It governs how your business runs, how decisions get made and what happens when things change. Without it, state law steps in and makes decisions for you using...
Two friends with a great idea may not think about how to handle a business breakup on day one. However, disagreements between co-founders can arise quickly. A well-written founders' agreement may help prevent small conflicts from growing into deadlock or a lawsuit. ...
Getting sued by a former business partner can feel overwhelming. This is especially true when your business and reputation are at risk. Understanding what to do right away and how Texas courts handle these disputes can help you protect yourself and respond well. What...
If you are running a business on your own in Texas and have not formally organized it, you are operating as a sole proprietor by default. That may work fine in the early stages, but as your business grows, the question of whether to form an LLC becomes more pressing....
You built the business together. Then one day, your partner decides they want to leave. That conversation can raise concerns about ownership, money and the company’s future. For most small business owners, the concern goes beyond replacing a co-owner. You may wonder...
A contract that you signed when starting your business can become impractical as your operation grows. When this happens, you might be wondering if you are able to modify existing agreements to meet the current needs of your business. The legal basis for contract...
You may wonder if you need U.S. citizenship to start a business in Texas. In many cases, the answer is no. Foreign owners often can form a Texas limited liability company (LLC), if they follow state filing rules and federal tax requirements. Still, the process can...
Forming a limited liability company (LLC) offers benefits, as it protects your family home and personal savings from business debts or lawsuits. In the legal landscape, this protection is known as the corporate veil, but it is not impenetrable. Here are ways you can...
Selecting the right legal structure for your new Dallas venture marks your first major business decision. This choice dictates how the state taxes your company and who remains liable for its debts. Most Texas entrepreneurs choose between a Limited Liability Company...
Vendor contracts are important for a business’s operations. The terms set in the contract can ensure a steady stream of necessary supplies. A price commitment can help the organization control costs and predict its future profits. Unfortunately, vendors do not always...
