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business formations Archives

Advantages and Disadvantages of an LLC

If you are forming a business, there are many options as to how to proceed. Your choices will depend on the nature of your business, the number of partners, the financing, and how much liability protection you need. Sometimes a simple partnership is adequate, but in other cases a distinct legal entity known as a limited liability corporation (LLC) is your best choice.

Business people need legal help with business formations in Texas

Texans are known for their ingenuity and fearlessness when it comes to new endeavors, so it is no surprise that many will want to start their own business or purchase a business to make it bigger and better. With that come certain realities that could get lost in the shuffle of putting all the pieces in place to formulate or run the business. That includes adhering to regulatory requirements, structuring the business to adhere to the law, and having the proper insurance among many other factors. A law firm that specializes in helping aspiring businesspeople to reach their goals while following the legal requirements is essential.

Understanding a joint venture and if it is a wise strategy

It takes a certain amount of fortitude to start a business in Texas along with significant risk. However, when the business start-up becomes a success, it can be rewarding in many ways including financially and personally. A persistent sticking point for many when they consider starting their own business is how it should be structured. One strategy that is often used and has benefits and drawbacks is a joint venture. Understanding what a joint venture is, how it works and if it is the wisest course of action can make or break a business. When moving forward, it is always advisable to have legal help.

What are my options with business formations in Texas?

For Texans who are planning a business start-up, one of the most important choices that must be made is the business structure. There are multiple alternatives when forming a business and knowing the benefits and potential drawbacks of each of them is critical to making the right selection. The first step is knowing the different forms available. There are generally six choices: sole proprietorship; general partnership; corporation; limited liability company; limited partnership; and limited liability partnership.

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Important notice: Thomas C. Pritchard is a retired member of Brewer & Pritchard, P.C. Mr. Pritchard's address is 800 Bering Drive, Suite 201, Houston, Texas 77057. Brewer & Pritchard, P.C and Thomas C. Pritchard have shared the cost of this advertisement.

Referrals: Please note that as a general matter, Brewer & Pritchard, P.C. does not handle non-litigation matters. Brewer & Pritchard, P.C. refers all its non-litigation or "transactional" matters to Thomas C. Pritchard, who is a retired member of the firm. Thomas C. Pritchard does not handle any litigation cases and as a general matter, he refers all litigation cases to Brewer & Pritchard, P.C. Brewer & Pritchard, P.C. and Thomas C. Pritchard have no other relationship to each other and do not share fees if or when a case or matter is referred by one to the other.

Not board certified: None of Brewer & Pritchard, P.C., J. Mark Brewer nor Thomas C. Pritchard is certified by the Texas Board of Legal Specialization.


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