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Documenting a Joint Venture/Multiple Owner Company

April 26, 2012

I am often asked whether it is appropriate to have one lawyer document a joint venture (or multiple owner company) on behalf of the proposed business owners (2 or more people). A variety of considerations come into play. LEGALITY: As a legal matter, attorney ethics rules, at least in Texas, permit an attorney to take on such a role. However the parties must knowingly consent to the situation.

Why form an entity for your business?

April 23, 2012

I am often confronted with the question of why business owners should form an entity (that is an entity that is legally recognized as being separate and distinct from its owners such as limited liability companies (LLC), limited partnerships (LP) or corporations – as opposed to general partnerships or undocumented sole proprietorships – each legal entity is referred to as an “entity” for this post) for their business and whether it is worth the cost and hassle.  In almost all cases it is clearly advisable to form an entity for a variety of reasons.… Read the rest

All postings are intended to be planning tools to familiarize readers with some of the high-level issues discussed therein. No posting is intended to be a comprehensive discussion and additional details should be discussed with your transaction planners including attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. This article should not be treated as legal advice to any person or entity.