Incorporation is the forming of a new corporation (a corporation being a legal entity that is effectively recognized as a person under the law). The corporation may be a business, a non-profit organization, sports club, or a government of a new city or town.
S-Corp Election for IRS Purposes
S corporations are corporations that elect to pass corporate income, losses, deductions, and credit through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double taxation on the corporate income. S corporations are responsible for tax on certain built-in gains and passive income.
A lawyer can help you craft a contract specific to your situation, and we have the experience to predict potential problem areas and draft the contract to avoid such problems. We draft many different types of business contracts, including contracts relating to the buying and selling of businesses, non-compete agreements, non-disclosure agreements, and contracts for the sale of goods. We also review commercial leases and assist with general contracts and business advice.
Is a legal contract between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties
Is a term used in contract law under which one party (usually an employee) agrees not to pursue a similar profession or trade in competition against another party (usually the employer)
Liquidated Damages Clauses
Are damages whose amount the parties designate during the formation of a contract for the injured party to collect as compensation upon a specific breach (e.g., late performance
In the event of the death, physical or mental incapacity, or withdrawal of either Managing Partner from the Partnership, the surviving Partners shall have equal rights in the management of the Partnership and shall appoint successor Managing Partners.
A buy-sell, or buyout agreement, protects business owners when a co-owner wants to leave the company (and protects the owner who is leaving)
An operating agreement is an agreement among limited liability company (“LLC”) Members governing the LLC’s business, and Member’s financial and managerial rights and duties
Asset Purchase Agreement
An asset purchase agreement is the written agreement by which one company buys another company. Asset purchase agreements define the assets and liabilities to be sold.
Stock Transfer Agreement
A formal document that lays down the terms and conditions by which shareholders can transfer, sell, gift, or assign their stock to others in keeping with the rules of the shareholder agreement of the company.
While many businesses never think to hire a lawyer until they have a legal problem, the time to hire your business lawyer is before your business runs into trouble. It is much easier and more cost-effective to prevent a lawsuit than to litigate it.