Partnership, LLC and Startup Disputes

Planning a business starting is a gratifying undertaking. It is always important to remember that this is a big decision, thus everything should be well prepared. Planning includes selecting the best business structure, getting market access, dealing in business transactions, and resolving business issues. The success of a business formation is dependent on having a startup disputes attorney.

GK Law has one of the Top Business Law Attorneys in Houston, Texas. We certainly understand the complex nature of conflicts and legal matters of startup businesses, corporations, and Limited Liability Companies (LLC). As one of the most reputable business law firms in Texas, we ensure to protect your rights and guide you throughout the litigation process. By hiring us, you will save a lot of time and money. Schedule a free consultation now if you want us to evaluate your case!

Selecting the right attorney is the most crucial step in seeking a legal service for your business. You need to evaluate their backgrounds, characteristics, and capabilities. Remember, not all business lawyers have the same experience and knowledge in areas of law. Why not choose the best lawyers? Below are the essential qualities that you have to take note of:

• Experienced. It would be best to choose someone with extensive years of studying and practicing business laws. Offering legal remedies is not easy in disputes arising from a partnership, LLC, and start-up disputes. The broad nature of business law in Texas takes a lot of study and experience to be accustomed to. 

• Reputable. The reputation of the law firm is often taken for granted by many. One must realize how advantageous it is if your business or corporation dispute attorney is reputable in the state. Looking for reputable lawyers is also an excellent way to look for exceptional service. Remember that acquiring the state of being reputable entails providing satisfactory and exemplary services. 

• Dedicated. Your business litigation attorney's knowledge, experience, and reputation are useless if they lack the dedication to helping clients. You should thoroughly review the law firm and its values apropos their law practice. They should have a solid commitment to providing excellent services and must uphold the best interest of their clients. 

The enunciated good qualities of a business law firm are just one of the notable characteristics of the GK Law. Our team has extensive experience in studying and practicing the law in Texas and, at the same time, obtaining numerous awards for such excellency. 

Our team acquired this solid reputation because of such recognition. We are dedicated to going beyond our services to provide legal services anchored with our core values of personalized care, the client’s best interest in mind, and transparency and integrity. If you want to hire us for your dispute resolution, contact us now!

Startup, Corporation, & LLC are the types of business arrangements set forth by the Texas laws. While each of them has a different nature and characteristics, they have in common that all of them can be subject to disputes. Either the disadvantaged shareholder or a member or partner seeks legal redress through arbitration or litigation.

• Startup - Startups pertain to a new business or company where it is in the first stages of operations. When there is a perceived demand, two or more entrepreneurs will develop a product or service. These types of businesses generally compromise with high costs and limited revenue, so they look for capital from various sources. 

• Corporation - A corporation is a separate entity that can exist independently of its owners. In corporations, the shareholders can transfer their ownership or stocks freely without any restrictions. In case when the corporation is liable for damages of malpractice, the members thereof cannot be held responsible. To establish a corporation, the owners must create rules and regulations, hold a meeting, and record minutes. 

Limited Liability Company (LLC) - It is a combination of partnerships and corporations. Unlike a corporation, which requires bylaws, meetings, and other things, LLC does not require one. There is also no requirement for how many members are necessary to make it valid. In LLC, members cannot withdraw or sell their interest without obtaining the majority consent of all the members. In case when the membership of an LLC disbands, the business will likely be dissolved. Like the corporation, members cannot be personally liable when legal issues arise. A Houston LLC disputes attorney is the right person to contact for issues that may arise within your limited liability company.

Business Agreements For A Startup

It is imperative for all parties involved in the startup of a business to protect each other's interests. This can be done through an operating agreement. This is also to avoid future disputes arising from a particular legal issue. Thus, if your startup is, for instance, a partnership type of business, it is necessary to have a buy-sell agreement. This should lay down the guidelines for how the departing business owner distributes his interest. 

Employment Law Issues

Startup business owners must also take note of their responsibilities to adhere to the applicable employment laws of Texas. For example, under Texas law, discrimination in terms of race, nationality, gender, color, etc., is illegal. Thus, the owner must also uphold the employees' rights and protect them under the law. Furthermore, at all times, business owners must follow the wage and hour laws of Texas. If an employer works more than 40 hours a week, they are entitled to overtime pay.