Business Formation

Forming a Texas Corporation – Other Documents You Should Know About

  Most folks forming a corporation are aware that you file a certificate of formation with the Secretary of State’s office in order to legally form the corporation and then adopt bylaws to govern the corporation’s day to day operations.  There are several other documents important to properly forming a Texas corporation that you should […]

Starting a Business? Here Is What You Should Know About The Non-Compete Provision With Your Former Employer (or Partner)

Folks starting a new business are often doing so after working for an employer or after departing a previous venture with other partners.  Frequently these entrepreneurs have a non-compete provision tucked into some agreement from the previous relationship that they either did not know about or have not considered.  Look closely through all of your agreements and […]

IRS Releases Consolidated Procedures for Late S-Elections

The IRS just released Revenue Procedure 2013-30 to consolidate a number of previous procedures related to late elections for S-Corp status (as well as ESBT, QST, and QSub elections).  The procedure is effective September 3, 2013, and you can get a copy of the revenue procedure from the IRS website. Rev. Proc. 2013-30 provides the […]

Why Online Business Documents Could Be The Choice That Destroys Your Company

There are a number of do-it-yourself online legal document services that have popped up over the past few years.  The appeal is obvious – they are cheap.  Most folks who start or run a business know they need governing documents, contracts, and a number of other legal documents.  Lawyers are expensive and these document services […]

Closely Held Corporations: Characteristics, Minority Shareholder Rights, and Control Issues

Closely held corporations present unique legal issues on a number of fronts.  The limited ownership group makes personal relationships more important and increases volatility amongst the group.  Owners of closely held companies tend to be more involved in the operations of the company. What Is a Closely Held Corporation? The most general definition of a […]

Can I Form a Company Under One Name But Operate Under Another?

As always when it comes to seeking free advice, make sure you read this post about free advice. The other day I received a question similar to the one below. The questioner wanted to name his company AB but the Secretary of State rejected his Certificate of Formation for that name based upon confusion with […]

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