PMCW Law

Are you debating whether or not to hire a business attorney at the Lake of the Ozarks ? Each situation is unique, but there are common circumstances where the guidance of an attorney experienced in business law could be valuable. Consider these examples when deciding whether you need to consult with an attorney. Perhaps one of them applies to you! 1. You Are Starting A New Venture No matter what type of business you are starting, the type of entity you choose to establish your company is important. Among other things, the business entity you choose will have tax implications. Your attorney will help you determine which types of business entities would be the best fit for your specific needs and goals. 2. You Are About To Enter Into A New Contract Contracts are legally binding documents. As an entrepreneur, failure to uphold your end of a contractual agreement can have serious consequences for your business. For example, your client's refusal to pay for service...

Starting a business is a major undertaking, but the rewards can be tremendous. New business owners face a hundreds of decisions as they get their business off the ground, one of which is choosing which business entity to use. Last week, we examined several different options for incorporating your business , specifically General Partnerships, Sole Proprietorships, C-Corps, and S-Corps. This week, we are taking a closer look at the remaining options. Limited Liability Company A Limited Liability Company (LLC) has become a very popular entity choice when starting a new business.  LLCs come with their own set of rules and regulations that govern their policies and procedures, but the advantages that they offer tend to outweigh the extra step of drafting and executing the necessary documents. A LLC requires the owners (typically called "members") to execute an operating agreement that outlines how the company will conduct its affairs. The success ...

Starting your own business is exciting, overwhelming, and consuming. Entrepreneurs live and breathe their businesses every minute of every day, and for good reason. No matter what your new business is, it will demand all of your time - and then some. In spite of all the time and attention entrepreneurs dedicate to their businesses, there are two major considerations that new business owners frequently fail to recognize: How will you get out of your business when you wish to retire? What will happen to your business if you or one of the other owners pass away or become disabled? It is absolutely inevitable that both you and your co-owners (if any) will separate from the businesses eventually, whether by retirement, disability, or death. It is important that you plan ahead for these occurrences. Buy-Sell Agreements -- The Basics A buy-sell agreement , in simple terms, is a document that can help you plan for the eventual separation of a business owner from the company...