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Dallas Business Law Topics

How to approach a business partnership

Entrepreneurs in Texas often need to work with others when getting new ventures off the ground. When considering a partnership, care should be taken to select the right person and to develop a positive and complete partnership agreement. 

Entrepreneur magazine recommends that people should only partner with others if they can completely trust them. A business partnership is a very close relationship that requires a lot of give and take and a lot of trust. It may also be wise to find a way to have a test partnership or working relationship before entering into a formal partnership. This might include one person hiring the other as an employee or a consultant for a while.

Choosing the right foundation for your new business

The business structure you use for your new Texas startup impacts many facets of the organization. At Palmer & Manuel PLLC, we often provide expertise to clients who wish to choose the right business structure of their startup.

When selecting the type of business entity, the formality of the operation, management, record-keeping, tax and ownership interests are among the top considerations. While there are many options to choose from, the four business structures listed below are among the most common for new companies.

Different ways you can resolve partnership disputes

Business owners in Texas will be dealing with a vast array of hurdles as they progress through their business journey. One potential issue is that of disputes or disagreements among partners, which can occur between anyone for many reasons. The important part is knowing how to handle it.

Business News Daily takes a look at what you can do when a partnership starts going downhill. They look at many different areas in which disputes can occur in, including monetary issues, intellectual property (IP), or operational functions. Depending on what caused the disagreement to occur, it's possible for partners to work things out without legal action. Mediators or counselors for business may be brought in to allow for a safe and open environment where all opinions are heard. This generally works best for issues like one partner having trouble with another not pulling their weight.

What does your business partnership agreement need?

A business partnership agreement is a vital component to the formation and ongoing operation of a company. How you and your partner agree to make money and control decisions should be address before you're overwhelmed with the day-to-day operations.

As you start to create a partnership agreement, consider adding these eight details to help prevent future issues.

Implied warranty in Texas real estate

Prior to the 1960s, Texas was a state, which meant that it adhered to a "buyer beware" policy in real estate transactions. However, in 1968, the Supreme Court of Texas expressed its distaste of the caveat emptor doctrine when it comes to the sale and purchase of a home, stating that it did not placate the demands of justice.

According to the Journal of Texas Consumer Law, the court felt that it was unjust for the average homeowner — for whom the purchase of a home is the most important transaction of a lifetime — to be financially accountable for defects created or overlooked by experienced builders and sellers. In the caveat emptor doctrines' place, the court instated the "implied warranty." In the home construction industry, implied warranties come in one of two forms: the implied warranty of good and workmanlike construction and the implied warranty of habitability. Though sellers and builders may disclaim both types of warranties in instances, the courts will generally hold builders and sellers accountable for nuisances.

Do I need to think about exit strategy when starting my business?

There are basic steps that need to be taken when trying to get a business off the ground. We suspect that is something that any would-be entrepreneur in Dallas can appreciate. You need a great idea, of course. You also need solid planning that takes all potential business legal matters into consideration. And part of that plan should include an exit strategy.

That last part might seem somewhat counter-intuitive to some. Why would you want to be thinking about getting out of your business even before it has gotten started? The answer, according to some business veterans, is that having an exit plan allows you to keep your ultimate goals in focus, share them with those you work with, and stay on course in rocky times.

Texas does not rescind established paternity easily

Texas law regarding parenthood of a child makes it relatively easy to establish a parenting relationship. As we noted in a post last November, all that's required is for two a man and woman to sign a document called an Acknowledgment of Paternity.

The ease of the process may be good for the state. It doesn't require genetic testing. And once an AOP is signed, it becomes easier for officials to determine child support, custody and visitation issues. It also becomes easier for the state to hold the signatories of the document accountable for fulfilling their parental obligations.

Does a DBA registration offer any legal name protection?

Ah, the days of childhood when you could set up a crayon drawn sign on a corner, wheel out a wagon and start selling lemonade to passersby. You still may see some of these pop up businesses around Dallas on a hot summer day, but they are fewer and farther between than they used to be even 10 years ago.

That's not necessarily because it's so much harder to do -- though there are surely those who would argue that it is no easy thing starting a business. The legal hurdles that are required at the various levels of government can be significant. No, sad as it may be, security concerns might be the bigger reason why lemonade stands aren't as common as they used to be.

A few lessons about interstate child custody and support

Imagine that you and your spouse have a child, and for many years your family lives happily. But then something changes one day, and you and your spouse feel more stressed out and get into more arguments with one another. As the months pass, your marriage disintegrates, and you and your spouse decide that it is time to get a divorce.

Obviously, this is a trying time, but thankfully you and your spouse don't contest custody of your child, leading to joint custody that benefits everyone involved. A few years pass and everything under this arrangement is working out just fine.

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