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A Texas corporation is owned by one or more shareholders. Startups often attract minority shareholders to secure essential funding during the early stages of the business. However, as the number of shareholders increases, so does the risk of shareholder disputes and potential lawsuits. If you find yourself involved in such a dispute, SLG’s Austin, TX business litigation attorneys can help protect your rights and guide you through the legal process.

What Are a Shareholder’s Rights?

Corporations organized under Texas law must respect certain shareholder rights created by statute. But a corporation may also adopt its own bylaws and shareholder agreements that can modify, expand, or even restrict those rights. Litigation can arise when one or more shareholders believes their rights have not been respected by the corporation’s officers, directors, or majority shareholders.

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Mergers offer many Texas businesses the ability to quickly expand their operations. But mergers are also a complex undertaking, even when the companies involved may still be relatively small in size and scope. That is why it is always important to work with an experienced Texas mergers and acquisitions lawyer who can guide you through these transactions. The team at Structure Law Group represents clients in M&A deals at all levels and values, and we can help to ensure that your Texas merger is a success.

While every Texas merger presents its own unique challenges, here are a few basic principles to keep in mind when planning for a successful deal:

Make Sure Your Business Is Ready

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One of the first steps a Texas startup should take is to hire a knowledgeable Texas business attorney. Unfortunately, many companies view this as optional and delay until they face a lawsuit or another legal crisis. However, the ideal time to hire a business attorney is before encountering any legal issues.  Structure Law Group can work with you proactively, taking the time to understand your specific needs and providing guidance to help your company avoid future legal issues.

Defining the Legal Needs of Your Business

During the startup phase, businesses must address key tasks such as choosing a business entity, filing the required paperwork with the state, and establishing internal procedures like corporate bylaws or operating agreements for an LLC. Beyond these basics, specific legal needs may arise depending on the industry and market. These can include obtaining necessary licenses, maintaining regulatory compliance, and safeguarding the business’s intellectual property.

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A limited liability company (LLC) is a type of legal entity that is neither a corporation nor a partnership. An LLC is a business owned by one or more “members” who themselves can be individuals, corporations, or some other legal entity. The LLC itself protects members from personal liability for business debts. But the actual profits and losses from the LLC are “passed through” to individual members for purposes of tax reporting.

Forming an LLC in Texas is a relatively straightforward process. It is still a good idea to work with an experienced Texas limited liability company attorney at Structure Law Group who can advise you on the steps to take when getting your business started. Depending on the specific needs and goals of your business, we can tailor a structure for your new LLC that will help set you up for success.

The Certificate of Formation

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Every Texas-based business must have an employee handbook, from startups hiring their first employee to established firms reviewing current policies. Enlisting the help of a seasoned Texas employment attorney is key in creating or revising an effective handbook that keeps companies in compliance and avoids litigation. The Structure Law Group offers extensive legal expertise, catering to technology companies and other innovative businesses in Texas.

What Is an Employee Handbook?

In brief, an employee handbook is a collection of policies and procedures that an employer gives employees. The specific contents of an employee handbook will vary from employer to employer. But the basic idea is that an employee should be able to review their employee handbook and understand what you, as the employer, expect from them in the performance of their jobs.

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Selecting a legal structure is one of the first decisions you must make when starting a new business in Texas. There are a number of options, and it is easy to become confused if you do not have experience in this area. The Texas start-ups and financing lawyers at Structure Law Group can help you assess your needs and choose a structure that will set you up on a path to success.

The Risks of Sole Proprietorships and General Partnerships

The simplest type of business structure is a sole proprietorship, which essentially has no formal structure. A sole proprietor is an individual who operates the business on their own without the liability protection of a separate legal entity. When two or more individuals operate a business in this manner, it is called a general partnership.

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It’s often said that employees are a company’s most valuable asset. Your Texas company likely has several key employees essential to running your operations. So management understandably wants to protect itself if one leaves for another job.

Historically, in Texas and elsewhere, companies have used non-compete agreements to temporarily restrict a key employee’s ability to compete directly against them. The law surrounding non-competes is quite complicated, so it is essential to seek qualified legal advice. The Texas employment attorneys at Structure Law Group can assist you in drafting, reviewing, and enforcing non-compete agreements to ensure that they meet all state law requirements.

Three Requirements in Texas

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AdobeStock_812365342-300x169Every Texas business faces the risk of lawsuits, regardless of its size and scope. Various factors can lead to potential legal challenges, such as a customer claiming a breach of contract or a former employee alleging discrimination. However, businesses can take specific measures to safeguard their owners and assets. The skilled business litigation attorneys at Structure Law Group in Texas can offer detailed legal advice and representation suited to your unique circumstances.

Structure Your Texas Business as an LLC or Corporation

Many Texas businesses start as a sole proprietorship or general partnership. While such structures are simple and inexpensive to set up, they offer no legal liability protection in case of a lawsuit against the business. To put it bluntly, if you are a sole proprietor, any business creditor can come after your personal assets–including your home–to satisfy a business debt.

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AdobeStock_1483539430-300x168Conducting due diligence is a crucial step in any merger or acquisition deal. After making and accepting an offer, the buyer must verify essential information about the seller’s business — a process known as due diligence. The experienced Texas merger and acquisition attorneys at Structure Law Group will guide you through every stage of this process to set your deal up for success.

What Information Do You Need to Review?

In most M&A agreements, due diligence is required as a condition of the buyer’s offer. This is important because if a problem is uncovered, the contract will provide a clear path to resolving the issue or allowing the buyer to back out of the deal. Both parties should avoid closing a deal without conducting due diligence, as it could lead to serious issues arising when it’s too late to address them.

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AdobeStock_1539065348-300x200Every Texas business must take essential steps to protect and enforce its intellectual property rights, with trademarks and service marks being among the most critical. These marks represent your company’s brand and reputation to the world. The Austin intellectual property lawyers at Structure Law Group are here to ensure your marks are properly registered and effectively protected.

How Trademarks and Service Marks Work

A trademark or service mark is any combination of words, phrases, symbols, or designs used to identify a good or service. (A trademark refers to a good, while a service mark refers to a service.) These marks serve several critical functions, including identifying the source of the good or service and providing consumer protection against counterfeiting. However, it is important to understand that a mark does not mean that you “own” a word, phrase, or symbol. Rather, you have the right to use the mark in connection with your company’s specific goods or services.

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