What is a Limited Liability Company (LLC)? A limited liability company is a type of business structure. Although the focus of the LLC is to protect personal assets, there are also more benefits. There are different types of LLCs to choose from to best suit the needs...
What is Intellectual Property (IP)? Intellectual property refers to creations of the mind, including patents, trademarks, copyrights, and trade secrets. Although your business may be physical property, IP issues most likely play a role in your fundamental business...
A non-compete agreement is a contract between an employee and their employer that forbids the employee from working in the same or similar field of another entity. The intention is to protect confidential information from being solicited to competitors. How do you...
A demand letter is a formal notice often written by an attorney on behalf of a client demanding that the person or business cease or take action in effort to resolve the dispute before going to court. The purpose of a demand letter is to seek resolution and/or begin a...
Are you wondering what type of business arrangement is best for you? A joint venture agreement is a "partnership" of two or more individuals or companies with the intention of making profit. The goal is for every “partner” in the agreement to contribute assets,...
You should be aware that formation of an LLC may affect your future tax obligations. You should carefully review all the tax aspects of your entity with your accountant, paying special attention to the issue of whether to elect Subchapter S status. Sub-Chapter S...
Formation starts with the proper certificate filed with The State of Texas. You will need a Registered Agent. You will need to disclose the initial members or the managers if member managed. Bank Account. A new Bank account should be opened in the name of the LLC....
Certification of Formation. The Certificate of Formation was filed with and accepted by the Secretary of State which issues an acknowledgement of filing for the LLC. The Certificate of Formation establishes the LLC and sets out its fundamental structure. Company...
A 501(c)(3) nonprofit is exempt from federal income taxes and includes tax-deductible contributions. To qualify, your nonprofit must be established exclusively with the purpose of religion, charity, science, testing for public safety, literature, education, or the...
Starting a business from square one is not the only way to become a business owner. For many people, buying a business that already exists is the preferable option. For the reason that someone else has already set procedures, systems, a customer base, employees and a...
