While the Coronavirus (COVID-19) was disrupting everyone’s lives, Palmer Lehman Sandberg worked to achieve a balance – continuing to take care of our clients’ legal needs, while protecting our clients, our employees, and our community (local and nationwide).

As Texas has begun to reopen, Palmer Lehman Sandberg has adjusted accordingly.

  • We are available for in-office meetings, with the following protections in place – while in our building and our office common areas (lobby, elevators, hallways, etc.), visitors must wear face coverings, and maintain social distancing (minimum 6’) as much as possible.
  • We continue telephone and video conferencing in place of face-to-face meetings, for those who prefer it.

As we continue to serve you, we wish everyone safety and good health as together we move forward through these uncertain times.

Please reach out to anyone at our firm via email or phone with any questions or concerns.

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Forming or reorganizing your new business: Entity selection

| Dec 19, 2014 | Business Formation And Planning |

When a business is formed, it is important that a solid foundation is laid in order to support the legal structure of that business. If that foundation is shaky, it can affect every aspect of the business’s future. As a result, it is vitally important that the process of entity selection is taken seriously. It is similarly important that if a business’s foundation has not been correctly constructed that business owners consider reorganizing that business under a new entity formation.

Entity selection helps a business determine what kind of legal foundation will provide the basis for the business from a legal perspective. In general, businesses may be formed as corporations, limited liability companies, limited partnerships, family limited partnerships, limited liability partnerships and sole proprietorships. If a business is initially formed as one type of entity and then needs to evolve, that business can be reorganized to reflect the changing nature of the business.

Once business owners have gone through the initial entity selection process, attorneys will work with them to draft necessary companion documents. Depending on the nature of the entity selection process, shareholder agreements, partnership agreements or other companion documents may need to be drafted and filed.

If you are thinking about starting a business, or if you feel that your business could significantly benefit from a reorganization, please speak to an experienced business attorney about entity selection. This particular process should be taken seriously, as it provides the very legal foundations upon which your business will soon operate.

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