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Creating Business Entity | Creating Corporations | Creating Partnerships, Foundations, Limited Liability Companies, LLC, LLP

Every year, thousands of Americans catch the entrepreneurial spirit, launching small businesses to sell their products or services. Starting a business can be an exciting and rewarding experience that offers numerous advantages, such as the ability to be your own boss, set your own schedule and make a living doing something you enjoy. Starting a business involves planning, making key financial decisions and completing a series of legal activities. The more you know about starting a business, the more power you have to form an organization that develops into a lasting source of income and satisfaction.

When you first start your own business, you will inevitably run into a gauntlet of legal issues. As a business owner trying to turn a profit, you may not be in the best position to properly assess your legal situation. Houston Commercial lawyers understand business law and can help you start your business the right way. They can give you guidance for issues both large and small.

Areas of Practice for Business Lawyers

Houston Commercial Lawyers Can Help Form Your Business

Houston is full of the entrepreneurial spirit. Thousands of Houston residents make their living by owning and operating their own business. If you are a Houston resident and want to start up a business of your own, a qualified Houston commercial lawyer can help.

When it comes to creating a business entity, you have a variety of choices. Texas recognizes sole proprietorships, general partnerships, limited partnerships, limited liability partnerships, limited liability companies, and corporations. The type of business entity you choose can have various pros and cons.

No matter the kind of business entity you choose for yourself, it is extremely important that you first understand your full array of options and the consequences of each potential course of action at your disposal. Houston Commercial lawyers know the benefits and risks of the different business entities and can help find the right one for you.

Sole Proprietorships

Houston Commercial lawyers understand sole proprietorships. Sole proprietorships are the business entities in which a person owns a business and does work for the business. The owner is held personally liable for the business, and no one else. A Houston Commercial Lawyer can help to assess your needs and to set up a sole proprietorship if it is appropriate for you.

General Partnerships

Houston Commercial Lawyers understand General Partnerships (GP). GPs are the business entities where two or more persons decide to pool their resources to work together for a business. Here partners owe each other a duty of loyalty and duty of care. Furthermore, each general partner can bind the partnership.  This is risky because each partner is liable for the other partner's actions. Further, once the partnership assets have been used up, a partner's personal assets can be attacked. Furthermore, when you form a general partnership, the rights of the partners are dictated by the partnership agreement. If you are going to form or enter a  partnership in Houston, a Houston Commercial Lawyer can help protect your rights.

Limited Partnerships

Houston Commercial Lawyers understand limited partnerships (LP). LPs are the type of business entities where there are one or more general partners and one or more limited partners. General partners would be in charge of making decisions and for managing the operations of the business. That being the case, general partners in a limited partnership are liable for the partnership and are personally liable for the partnership if the partnership runs out of assets. Limited partners only play the role of investor. As such, limited partners do not make decisions and do not manage operations. Further, limited partners are not liable for the partnership for more than what they have already invested. Houston Commercial lawyers understand the law of limited partnerships and can help protect your rights if you are looking to form or enter a limited partnership.

Limited Liability Partnerships

Houston Commercial lawyers understand limited liability partnerships (LLP). Partners in a LLP can each bind the LLP and can make decisions for it. However, partners in a LLP are not personally liable for the debts or actions of the LLP. This type of business entity is very attractive to those who have assets outside of the partnership and do not want to risk those outside assets. To form a LLP the partnership must pay fees, observe state rules in its name, and file with the state. Failure to comply with the state requirements could terminate the LLP status and subject the partners to personal liability. Houston Commercial lawyers understand this area of law. If you are going to start or join a LLP, a Houston Commercial Lawyer can help protect your rights.

Limited Liability Companies

Houston Commercial lawyers understand limited liability Companies (LLC). Instead of partners, LLCs have members. Members in a LLC can each bind the company and can make decisions for it. However, members in a LLC are not personally liable for the company. However, LLCs can choose to operate as corporations. To form a LLC the company must pay fees, observe state rules in its name, and file with the state. Failure to comply with the state requirements could terminate the LLC status and subject the partners to personal liability. Houston Commercial lawyers understand this area of law. If you are going to start or join a LLC, a Houston Commercial Lawyer can help protect your rights.

Corporations

Houston is one of America's most prominent industrial hubs. The city is home to countless corporations that employ millions of people. Corporate relationships are both an essential part of the Houston economy and one of the most confusing areas of the law.

Houston Commercial Lawyers understand Corporations. Corporations consist of shareholders, a board of directors, and officers. The shareholders own the corporation. The board of directors vote to make corporate changes, and officers run the corporation. Typically, in a publicly traded corporation, the shareholders elect the board, and board appoints officers. However, closely held corporations do not follow the same formalities. In closely held corporations, the shareholders, directors, and officers may all be the same person. For a corporation to be formed, it must file with the state and fulfill a number of state requirements. Failure to do so may terminate the corporate status. This is a complicated area of the law. If you are going to start a corporation in Houston, you need a Houston Commercial Lawyer to help protect your rights.

Houston Area Corporations

Houston Commercial Lawyers Can Help You with Your Business Needs

Serving clients throughout Southeastern Texas, including Aldine, Baytown, Bellaire, Beaumont, Channelview, Cloverleaf, Conroe, Deer Park, Friendswood, Galena Park, Galveston, Hedwig Village, Highlands, Hilshire Village, Humble, Jacinto City, Katy, League City, Magnolia, Mission Bend, Missouri City, Pasadena, Pearland, Porter, Sealy, South Houston, Spring Valley, Stafford, The Meadows, The Woodlands, Waller, West University, and other communities in Fort Bend County, Harris County, and Montgomery County.

So, whether you are looking to form a sole proprietorship, GP, LP, LLP, LLC, or corporation, you need people who understand the field and are experienced. Houston Commercial Lawyers can offer you competent representation in order to achieve your business goals.