There is a lot that goes into a successful business in today’s unforgiving economy. One of the most critical factors in having sustained success is to start a company with a solid plan and goals for the future. Whether a person plans to be a sole proprietor, form a partnership between two people or establish a corporation, it’s vital to come up with a good plan before starting a business.
Creating a successful business is more than just having a great idea, forming an entity and hoping everything works out. Although the rewards can be great if a person is successful, the chance to fail is too high to leave anything to chance. One of the best options for a business formation is to involve a knowledgeable attorney who can help navigate the crucial first steps in a complicated process. Using an attorney to help secure financing, executives and other major pillars to hold up a company can give a person the best chance to succeed.
Business Formation Lawyers In Houston, Texas
Don’t hesitate to contact the professional and experienced lawyers at The Gonzalez Law Group regarding your business formation. Marco Gonzalez and his team of lawyers are ready to help you form, grow and protect your venture or enterprise. The Gonzalez Law Group will use their knowledge, experience and skills to ensure your business formation goes smoothly.
Forming a company or subsidiary is a critical stage in a successful business that requires proper planning. You must ensure you have a lawyer that will help you protect your ideas and safeguard what you have worked so hard to build. If you live in Harris County including Cypress, The Woodlands, Houston, Humble, Deer Park and Spring, contact The Gonzalez Law Group at (832) 530-4070 or fill out an online form for your free consultation.
Business Formation Information Center
Determining the type of business to form can have significant implications on how a person is taxed, their liability and who is responsible for making major decisions. Entrepreneurs might take risks when starting, but the business structure is something that needs to be carefully thought of before things begin. An experienced attorney can help a person choose the right type of business by presenting documents required, coming up with agreements to clarify responsibilities and showing a person’s rights during the formation process.
A lawyer can advise a person on the steps necessary to establish their company as a legal entity authorized to do business in Texas. The following are the most common types of business ownership in Texas and why a person might need a lawyer.
A person can legally engage in business activity in Texas without the need to establish a formal entity with the Secretary of State. This is the most common and basic type of small business in Texas. Starting a business as a sole proprietorship doesn’t require a person to file any special paperwork or pay fees, but the need for a lawyer may still be necessary. A person may need to file an assumed name certificate if the name they use in business is different than their legal name. The biggest need for a lawyer may come in the form of understanding that a sole proprietor is personally exposed to any liabilities the business may encounter because the person and business are essentially the same.
A general partnership in Texas is when two or more people come together to form a business for profit. This type of business is generally operated with a partnership agreement, but it does not have to be in writing, and no state-filing is required. Just like with a sole proprietorship, there is no limit to the liability of both partners. When forming this type of business, it may not be necessary to have anything in writing, but it may be best for both partners to involve a lawyer to help figure out how the entity will be run. Without a written agreement that covers shared profits, the percentage of liability for each partner and taxes, disputes can occur and be difficult to resolve without complex and extensive litigation.
If owners incorporate their business, they obtain a level of protection between themselves and the business. A corporation is a legal entity that can sue, be sued, enter into contracts and conduct business on its own behalf. Unlike a sole proprietorship and a general partnership, owners are shielded from personal liability. There is substantial paperwork involved in creating a corporation. The secretary of state requires a person to file the appropriate certificate of formation and various documents including by-laws and shareholder agreements. This paperwork is not something simple that should be taken lightly. It is important for a person who wants to incorporate their business to seek legal advice from an attorney.
Resources for Business Formation
City of Houston-This link provides information for the structure of a business in the city of Houston. The city government provides general information and legal options for a business structure including a sole proprietorship, a corporation and a limited partnership.
Texas Secretary of State-This link provides information from the Texas Secretary of State regarding the formation of a Texas Entity. The link answers frequently asked questions including what to do before the formation of a business, name issues and what happens after a formation.
The Gonzalez Law Group | Harris County Business Formation Lawyer
Determining the legal strategy for the establishment of your business is best done with the advice of an experienced lawyer. You can save time and money when your business is established the first time correctly. The Gonzalez Law Group has the experience to provide you with cost-effective advice on setting up your business.
The Gonzalez Law Group provides legal services to individuals, small to mid-size business and large businesses across South East Texas. If you live in Harris County including Jersey Village, Bellaire, Tomball, Pasadena or any other surrounding areas, contact The Gonzalez Law Group at (832) 530-4070 today.