Starting your own business in Texas can be very rewarding. If you do it with another owner, you might have to create a partnership agreement if that is the form of legal entity that you will be operating under. It’s important to include certain terms in your...
Partnership Agreements And Disputes
How to frame a business contract
Going into business in Texas involves a series of binding legal agreements. The nature of these agreements can be stated in certain terms. Once agreed upon, the terms can be made concrete and enforceable by means of a contract. After you sign it, a contract becomes...
How civil lawsuits work
Business disputes are relatively common for any small business operation in Texas, and they can arise out of a wide variety of circumstances. While many disputes are based on contract violations, the truth is that they can happen over practically any issue in an...
The pros and cons to family limited partnerships
Texas residents may want to learn more about the family limited partnership and its advantages and disadvantages. It is a partnership that a family (or extended family) may form for the a business purpose. A family may use it to run a family business or for holding...
Alternative ways to deal with a contract breach
Business dealings might involve signing a contract that locks the various parties into an agreement. An employee may sign a deal for a specific salary, or the business could sign an agreement with a product supplier. All parties must follow the terms of their contract...
The difference between dissolving and terminating a partnership
Everything is big in Texas, as the saying goes, but that doesn't mean the Longhorn State doesn't support small businesses. There are plenty of small LLCs and partnerships in Texas, and these relationships can come to an end. Timing and other factors determine the...
Is it possible to sue your business partner in Texas?
If your business partner doesn't uphold their end of your agreement, it's possible to sue them. However, you must check the law to know for certain, as there are numerous matters that impact this. In general, three reasons you could sue your business partner are...
Changing from a general partnership to sole ownership
If you're in a business partnership in Texas that is coming to an end, and you or your partner wants to continue operating the business, it should be converted into a sole proprietorship. Ensuring this change in the entity is handled correctly is essential. Addressing...
Three sections to include in any business partnership agreement
If you're thinking about starting a business in Texas, you might not want to do this by yourself. Fortunately, many business owners get the help they need by establishing a business partnership. Before officially starting a company with your new partner, it's...
Why detailed partnership agreements are important
Partnerships are a great way to run a business in Texas as you can pool your talents with one or more people. Properly setting up a partnership requires a sound agreement that outlines how the company will operate. Here are several points that you should include when...
