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Handling Disputes Between Business Partners

Handling Disputes Between Business Partners

Partnership Dispute
Starting a company with one or more partners can be valuable, as partners can each use their strengths to help balance out each other’s weaknesses when it comes to business. However, there will always come a time when a partnership dispute arises on an issue related to the operations, finances, or leadership of the company. When a partnership dispute is not properly addressed, it can have a detrimental effect on the entire business. It is important to handle these disputes in the most effective way possible with as little effect on or interruption to your business. Look at your partnership agreement - Every partnership should have a carefully drafted partnership agreement, which advises how conflicts should be resolved, among many other things. Often, this agreement will provide enough guidance for…
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Legal Issues for Restaurant Operators

Legal Issues for Restaurant Operators

Business Law
Houston has a great food and entertainment scene, with new restaurants, bars, and cafes opening on a regular basis. The hospitality business can be lucrative, and you may have long dreamed of opening your own place. There are many legal considerations for prospective or new restaurant owners, so you should consult with a knowledgeable Houston business lawyer  for help ensuring a successful opening. Health and Safety Healthy and safety standards are imperative when it comes to any establishment serving food and beverages. You must comply with all regulations and pass health inspections to begin operations. Licenses and Permits Many local and state laws require a variety of licenses and permits, which may include a general business license, an alcohol beverage license, a food service establishment permit, a food safety permit,…
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Resolving Contract Disputes

Resolving Contract Disputes

Employment Law
Companies regularly enter into many types of contracts with different parties, including clients, vendors, and many other individuals and businesses. In many cases, two parties will agree to the terms of the contract and will fulfill their responsibilities under the agreement. However, almost every business owner has run into a contract dispute. Contract disputes can arise when another party is not living up to their end of the bargain, or when another party accuses your company of breaching a contract. No matter what side of a contract dispute you might be on, it is important to discuss the matter with a skilled business attorney right away. The right lawyer can help to resolve the contract dispute as efficiently and favorably as possible. Often, a demand letter from an attorney may…
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Common Compliance Concerns for Business Owners

Common Compliance Concerns for Business Owners

Employment Law
Business owners might think they only need to call an attorney when a legal dispute arises. However, there are many, many laws and regulations with which company owners must comply to prevent civil liability or even having their business shut down. The following are some common compliance concerns with which our business law firm can help. Employment laws - If you have even one employee, it is necessary to comply with all relevant employment laws. These laws address minimum wage, overtime, breaks and meal times, anti-discrimination and harassment, workers’ compensation insurance, and more. As your business grows, you may have to consider family and medical leave and additional laws. Permits - If you are a new company, did you obtain all the necessary permits to lawfully operate your business, and…
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Why You Should have a Buy-Sell Agreement

Why You Should have a Buy-Sell Agreement

Uncategorized
Contrary to what many people may believe, a buy-sell agreement does not govern a transaction in which one company buys another company. Instead, this agreement is between the co-owners of the same business, and it serves a very specific purpose to help maintain ownership interests in the company. Specifically, these agreements dictate when owners have the right to purchase another owner’s interest before it goes to another party. Buy-sell agreements can come into play in numerous situations when one owner’s interests may be in jeopardy. Such situations include: An owner needs to file for bankruptcy An owner wants to retire An owner passes away An owner gets divorced The following is one example when a buy-sell agreement might come into play. A company has four owners and one of them…
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Top Mistakes That New Business Owners Make

Top Mistakes That New Business Owners Make

Uncategorized
Launching a new enterprise is never easy, and many people end up learning valuable lessons along the way. But wouldn’t it be nice to have some idea of what’s waiting up ahead, so you can avoid some of these lessons, and the potential costs they come with? If you are getting ready to open a new business, and want to give yourself the best chance at long-term success, preparation is key. There are so many things to think about, before you launch, that it’s all too easy to lose track and make mistakes. While there is no ideal, fool-proof plan for every new business, there are a few common blunders that new entrepreneurs tend to make. Here are a few things to avoid: Not planning ahead It might seem like…
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Is It Time to Think About a Business Estate Plan?

Is It Time to Think About a Business Estate Plan?

Uncategorized
For many people, their business is extremely valuable to them, almost like a member of the family. So when it comes to estate planning, they may be left wondering how their company fits into their overall future goals. Depending on your unique vision, there is a way to create a business estate plan that will give you peace of mind. Some people choose to keep their enterprise within the family, others wish to sell the business, and still others may have another plan in mind. These things can be arranged to occur before or after your passing, and a qualified business estate planning attorney in Houston can help you do this. A business estate plan is sometimes known as a “succession plan,” and it’s never too early to think about…
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Don’t Fall Into These Business Transaction Traps

Don’t Fall Into These Business Transaction Traps

Uncategorized
Legal transactions are the bread and butter of any business. From retail sales in a storefront, to acquisitions of entire brands, the financial fine print is crucial. If you want to set yourself up for success, whether your company is currently worth millions or only thousands, it’s important to know what you’re getting in for, with each and every transaction. Working with a qualified business attorney in Houston can save you money and stress over the long run, because they can prepare your company with airtight paperwork and targeted strategy. There are many ways that a business transaction can go south, or at the very least, not work out in your favor. But when you’re equipped with the right plan, you can avoid many of the traps of modern commercial…
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4 Ways to Protect Your Business From Lawsuits

4 Ways to Protect Your Business From Lawsuits

Uncategorized
When you own your own business, you’ve poured your heart and soul into making it a success. In today’s litigious society, most business owners are terrified of lawsuits, and want to protect themselves in all ways possible. Just one lawsuit, especially when it involves personal injury or other public-image-heavy incident, can be enough to take down even the most established business. If you have invested your whole life into making your enterprise grow, you should do your due diligence to safeguard it from costly lawsuits. There are many different ways to protect your company, but only a qualified Houston business attorney will be able to advise you on the best course of action for your circumstances. However, here are a few things to keep in mind, when you are hoping…
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Creative Ways to Fund Your Startup

Creative Ways to Fund Your Startup

Uncategorized
Every new business needs financial support. Without this vital cashflow, operations may never take off, especially in today’s highly competitive market. Basic inventory, marketing, and initial payroll needs have to be met somehow, and too many entrepreneurs try to squeak by without securing the right funds first. People put themselves on a fast track to burnout by working round the clock for no pay, trying to launch their enterprise. However, there are many options for funding out there these days, so there’s no excuse to skimp, or not do it right the first time. Many people immediately think of traditional bank loans as a primary source of business funding, and while these are certainly a good option for some, there are dozens more possibilities that may suit your needs better.…
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