As a sole owner, seeking out business partners is normal. It could contribute to your venture’s growth and expansion. However, most business partnerships could fail for varying reasons. Around 80% of partnerships fall apart, leading to damages that could be more...
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Business Formation And Planning
Is M&A a viable exit strategy for scaling startups?
Scaling a startup can be a daring move for most business owners. The process presents several uncertainties and inquiries, such as financing options and sourcing necessary funds. One viable option to consider may be expansion via mergers and acquisitions (M&As)....
Creating an employee handbook
An employee handbook is an essential tool for any Texas business, regardless of size or industry. It sets out the expectations and policies of the company; provides guidance to employees on key issues such as harassment, discrimination and safety; and helps to...
The difference between bylaws and a shareholders’ agreement
In starting any corporation, you must draft a formal set of rules and regulations that govern the company's day-to-day operations. Bylaws ensure the corporation adheres to a certain standard and that everyone knows their role in the company. A shareholders’ agreement...
Should I add a partner to my sole proprietorship?
Being the sole owner of a company can be incredibly challenging, and it will likely become more complex as your business grows. One way to address a growing company's demands is to bring in a partner as a co-owner. Such a strategy can affect your business in several...
Consider these tips when writing business partnership agreements
Many Texas companies choose partnerships for business formations. While partnerships offer many unique advantages, you must write your agreements correctly. Identify the business Partnership agreements must provide basic generalities about your business. Examples may...
The possible benefits of creating a separate entity
There are many ways in which you can organize your Texas company. Unless you elect to choose a different entity, your business will function as a sole proprietorship. While this may be the most convenient way to run an organization, it is not always the best way to do...
Is it better to start a business or buy an existing company?
Entrepreneurship is on the rise in America. According to the US Census Bureau, more than 4 million new businesses are started each year. In Texas alone, there are currently 3.1 million small businesses, and they employ more than 45% of the private workforce in the...
What are the terms of a limited partnership in Texas?
A limited partnership ("LP") in Texas is comprised of general partners and limited partners. Limited partners do not have personal responsibility for the business's debts and legal activities (unless they sign a personal guaranty). They also have less control than the...
How does a startup compare to other types of businesses?
A business in the preliminary stages of formation or growth, when it brings a new product or service to the market, is considered a startup. In 2021, Texas saw 492,233 such entities, 106,674 more than the previous year. Involvement level The difference between a...
