Whether you are founding a startup or are at the helm of an established organization, the guidance of an Austin business lawyer is beneficial. Early support from an experienced attorney is essential during business formation.
At Begum Peláez-Prada PLLC, Attorney Sasha Begum is here to help. We look forward to guiding you through the critical decisions that could define your organization.
A corporate attorney in Austin could help you determine the appropriate structure for your company. There are several options, from partnerships to corporations. Our firm can help you evaluate the pros and cons of each.
A partnership is the most informal business arrangement. There is no need to register as a partnership under state law, since they are not a distinct legal entity. The key benefits include ease of formation and the avoidance of double taxation, since income is taxed only at the individual level. However, the major downside is that partners are personally liable for the company’s debts.
A corporation is a formal legal entity. Creating one requires articles of incorporation, and there are strict rules on how these businesses are operated. Unlike partnerships, corporate shareholders are shielded from liability for corporate debts. However, they are taxed twice on income, once at the corporate level and again for individual earnings.
Limited liability companies combine the advantages of partnerships and corporations. These companies enjoy pass-through taxation similar to partnerships, meaning you will not be taxed twice. They also shield members from liability for company obligations, similar to corporations.
Despite these benefits, there are some key limitations. The number of members is capped, and the formation process is more complex than that of a partnership.
Commercial attorneys play a vital role in helping Austin entrepreneurs and companies operate smoothly and avoid damaging mistakes. From the moment a business is formed, our attorneys can provide essential legal structure by drafting formation documents, partnership agreements, and bylaws tailored to your goals. As your company grows, legal counsel becomes indispensable in reviewing and negotiating all manner of contracts. Depending on the nature of your business, you may require written agreements with employees, vendors, or even co-owners.
Beyond daily operations, a skilled business lawyer could help safeguard your company’s intellectual property. They could also resolve conflicts between partners or shareholders and manage risk during transitional periods in the organization.
For businesses navigating complex local and state laws, a trusted legal advisor could provide assurance in every decision. Ultimately, a business attorney acts as both a protector and a strategist, ensuring that every aspect of the business aligns with the company’s bylaws and state regulations.
No matter the size of your business, now is the right time to reach out to Begum Peláez-Prada PLLC. We could help you navigate challenges and plan for the future. Our goal is to protect your organization, even from threats you cannot foresee.
An Austin business lawyer from our team could guide your company as it grows and changes. Contact us today to discuss how we could help you during a private consultation.
