Once a business concept is created, the next consideration is the type of entity that should be created. In general, a legal entity is formed to protect the underlying owners of the company from personal liability. This step has many layers, and most decisions should be based on the type of company or its purpose, the relationship of the “partners”, the exit strategy of the company, or some hybrid of these elements. Jameson Law assists its clients in identifying the best entity for the client's needs, makes the necessary government filings, drafts the proper governance agreements, and prepares the corporate book.
Click button below for a brief review of the different types of legal entities and tax designations that a new company may consider.
Every company has contracts. There are corporate governance documents such as operating and shareholders’ agreements, employment agreements, contractor agreements, and handbooks, as well as vendor and licensing agreements. Every contract has embedded liabilities. Often, company owners are unaware of these hidden and costly issues. Take a moment to review these stats:
CIVIL LAWSUITS FILED EACH YEAR IN THE US
PERCENT OF CIVIL LAWSUITS INVOLVE A CONTRACT DISPUTE
MEDIAN COSTS FOR A CONTRACT DISPUTE
MEDIAN JUDGMENT AWARDED FOR CONTRACT CASES
*courtstatistics.org & Bureau of Justice
This is the grim reality of contractual liability. While a litigious society has aided in the escalation of contract liability lawsuits, the lack of attention to detail to contract drafting has also been a contributing factor. With the increased use of online sites for contract “template” downloads to using company employees, such as HR, to draft documents, liabilities exist in large quantities for many companies.
There is no cookie-cutter agreement for most matters. Every company is different as well as every relationship defined by a contract. Because of this, each contract should be well drafted and defined to fit the relationship of the parties and their agreement. Don’t be a statistic. Shouldn’t you and your company be covered?
TYPES OF AGREEMENTS
Independent Contractor Agreements
Membership Interest Purchase Agreements
Contact Jameson to have your company’s contracts reviewed or drafted.