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In the course of doing business, many businesses do business with another company that will suddenly announce it is filing for bankruptcy. This can happen if, for example, your business delivers raw materials to a customer ahead of payment. If that business then...
If you are setting up a business in Texas, you will need to choose a business structure for your company. Most notably, the business structure you choose will have implications for individual liability and taxation. Here are some key differences between the limited...
A fiduciary is a party who acts on behalf of another person -- often called the principal -- usually in business decisions. The fiduciary owes a duty to the principal to keep issues from arising between them. Fiduciaries willingly and knowingly accept that the...
Businesses don't have to be run by a single person, and partnerships are commonplace in Texas. But it's important to minimize potential disputes in such partnerships by creating clear contractual documents rather than relying on "handshake deals." Here are some...
If a person fails to live up to a contractual obligation, he or she may be in breach of contract. The circumstances surrounding the breach may determine what type of relief a person or entity might be entitled to. Let’s take a look at the different types of breaches...
Launching a startup business could open the door to financial freedom for a successful and motivated entrepreneur. The business landscape in Texas is welcoming to startups. Still, there are things would-be business owners need to be aware of, including legal issues....
No matter what industry you work in, one of the bigger partnership issues you will face is finding the balance between the work you do and the work your partner or partners do. How much is your effort worth? How much is their effort worth? Are you working 40-50...
If you’re thinking about striking out on your own, you should know that there are attorneys close by that can help you set up your business in a way that will keep you in compliance with the State of Texas. Below are a few basic requirements for your review. If you...
One type of business structure accepted in all 50 states is a limited liability company, more commonly referred to as an LLC. Rules for forming an LLC in Texas may differ from other states, so owners should check with their specified secretary of state for formation...
When starting a partnership in Texas or any other state, it is generally a good idea to craft a written partnership agreement. This can make it easier to resolve disputes or develop protocols that will be followed if you or your business partner choose to leave the...
