The Holloway Law Firm  

        CORPORATE LAW - BUSINESS FORMATION & MAINTENANCE

The Holloway Law Firm Gary J. Holloway, Attorney at Law 5725 St Thomas Plano, Texas 75094 Phone: (214) 924-3335

FORMING A NEW BUSINESS ENTITY? What you need to know. There are several choices as to which form of entity to select and each type may provide your new venture with an avenue by which to conduct your operations.  The first thing you should do is talk to you CPA or other tax advisor as the choice of business entity may have differing tax consequences.  Once you have determined the form of the entity through which you decide conduct your business, this firm can provide the necessary services to properly form your new company.  The basic listing of entities to choose from include, but is not limited to the following: Sole Proprietorship, Corporation, Limited Liability Company, General Partnership, or Limited Partnership.  Each entity is different and some provide protection from personal liability.  Formation in Texas is not required and this firm has experience forming entities in other states as well. There are many services available which purport to set up new companies; however, it is preferable to get it right the first time rather than having to go back and fix errors and omissions created by sub-standard alleged entity formation service providers who are not professionals.  These companies generally fail to provide all of the necessary documentation for proper formation of a new entity and do not provide you with the requisite legal knowledge regarding proper maintenance of corporate formalities.  Generally, the failure to comply with the necessary corporate formalities can result in the elimination of the personal protection afforded by a business entity. You will need to determine where you wish to conduct your business and whether or not you elect to form your entity in Texas or otherwise.  You will need to determine who will serve as your registered agent as well.   What this firm can do for your new company. This firm has experience forming new business entities and can draft and file all of the necessary filings to properly form your new company.  Additionally, this firm will draft your company's governing documents (such as Bylaws for a corporation), supply a corporate book for maintenance of all of the company's documents and filings, advise on obtaining a federal tax identification number, advise on elections to be made by the company under federal law, provide interest owner certificates (shares in the event of a corporation) and provide advice on the proper documentation of issuance and transfer of ownership, provide initial resolutions (including banking resolutions) so as to get your business started, and provide all of the business formation advice necessary to get your company started.     ALREADY HAVE A BUSINESS?  In the event you have an existing business, you should ensure that you are in compliance with all of the necessary corporate formalities so as to protect your assets and the assets of the company.  Client's have come to this firm after having another party allegedly set up their company only to find that the necessary formalities have not been followed.  Have your governing documents properly prepared?  Have the shares or certificates been properly issued?  Has any transfer been properly documented?  Are restrictions on share transfer properly addressed?  Is there a Shareholder's Agreement and is it enforceable?  What happens to the company if a shareholder dies? Are Spouses potential claims addressed under community property laws?  Do you have employees  and does the company have enforceable non-disclosure and/or non-competition agreements with those employees?   What this firm can do for your existing company. This firm has experience in maintenance of existing business' requirements.  Whether your company needs representation on a pending legal matter, advice on corporate formalities, advice and/or representation regarding dissolution of a company, or just general legal counsel, this firm can assist.  If your company wants to do business in another state, this firm can provide representation to properly qualify your company to be authorized to conduct business in Texas or elsewhere.  If you have elected to convert your company from one form to another, this firm can assist you with the necessary documentation.   In the event you have a need for new entity formation or for representation of an existing entity, please do not hesitate to call or email.

*Not certified by the Texas Board of Legal Specialization.  This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Any and all  information you obtain from  this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.  This site is for informational purposes only and any attorney client relationship will only be established by the mutual execution of a written agreement setting forth the terms of any representation between the attorney and the client. Click for Site Map Any questions regarding this site should be directed via email to © by Gary J. Holloway. All Rights Reserved.