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AdobeStock_626749959-300x200Litigation is rarely the desired outcome to any business dispute in Texas, but it often becomes necessary when alternative dispute resolution methods such as arbitration or mediation do not produce desired results. When any person is preparing for a possible litigation matter in Texas, they will want to have the assistance of an experienced Austin business litigation attorney.

Businesses have the power to resolve disputes on their own without having to go to court, but there are many times in which two sides will vehemently disagree and not be able to come to a resolution. Litigation is often the most effective way of determining which party is right and awarding any damages.

Making Demands

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AdobeStock_194331054-300x200Every  business depends on contracts, and businesses in Texas are no exception. Whether discussing a simple purchase order or executing a more complex merger or acquisition, a contract sets forth the essential terms by which two parties exchange something of value. And while there is a certain romantic notion that contracts require “nothing more than a handshake”, if you are dealing with a complex transaction, it is generally best to work with a qualified contract lawyer. The Texas business transaction attorneys at Structure Law Group can assist you with various contracts that affect your business.

What Is a Contract?

In its simplest form, a contract is a legally enforceable promise. A contract requires some form of consideration by both sides. For example, if you agree to help your friend move in exchange for $100, that is a simple contract. In the context of a larger Texas business, however, a contract can involve obtaining insurance, working out a deal with a vendor, establishing employment terms for key employees, and even selling or acquiring a business.

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AdobeStock_288950388-300x180Selecting a legal entity is often one of the first critical decisions you must make when starting a new business. But it is possible to change or convert one type of business entity into another if your needs or circumstances change. If you want to know more about the potential tax and legal implications of such a move, the Silicon Valley corporations attorneys at Structure Law Group are here to help.

The Advantages and Disadvantages of S Corporations in California

Let’s assume you currently have an S corporation, and you want to convert it to a sole proprietorship. What are the advantages or disadvantages of such a conversion? And how would you go about accomplishing it?

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AdobeStock_357298238-300x111Corporate Transparency Act (CTA)

The Corporate Transparency Act (“CTA”) was enacted by the U.S. Bureau Department of Treasury to address growing concerns about the use of shell companies and other opaque ownership structures to facilitate financial crimes like money laundering, tax evasion, and terrorist financing. By making beneficial ownership information more readily available, the law aims to deter and disrupt illegal activities. The CTA establishes a national beneficial ownership information registry accessible to law enforcement and authorized government agencies.

When and how should my company file its initial report?

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AdobeStock_621812775-300x200As we step into 2024, California employers need to brace themselves for a wave of new employment laws that will shape the dynamics between businesses and their workforces. A series of new legislation, along with revisions to existing laws, demand the attention of all employers. If you have particular inquiries about the implications of these new laws on your business, the California employment lawyers at Structure Law Group stand ready to assist you.

Here’s a concise overview of some pivotal new employment laws to consider as your business navigates 2024:

Non-Compete Clauses & Unfair Competition (Effective January 1, 2024):

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AdobeStock_561003317-300x169Many startups in the San Jose area look to Delaware when establishing their corporate structure. You have probably heard that many top companies are incorporated in Delaware. Delaware is a popular state to form a corporation.  But what are the advantages to a Silicon Valley company operating in Delaware?  And how can you create your own Delaware company? The San Jose corporations lawyers at Structure Law Group, LLP can help answer these and other questions about the startup process.

What Are the Advantages of Incorporating in Delaware?

Despite being one of the smallest states, Delaware plays a significant role in corporate formation and law, offering numerous advantages. The state’s appealing tax laws are a primary factor for companies choosing to incorporate there. Corporations not conducting business in Delaware are exempt from the state’s corporate income tax, even if incorporated there. Instead, they are subject to a ‘franchise tax,’ which is typically much lower than corporate taxes in other states. Furthermore, Delaware offers considerable privacy for incorporators, requiring only the registered agent’s name on filings. Additionally, the state allows a single individual to establish a corporation and hold multiple corporate roles simultaneously.

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AdobeStock_523210302-300x200One tool that employers have traditionally used to protect their business interests is to have key employees sign non-compete agreements. Such contracts are controversial and recently, the U.S. Federal Trade Commission proposed a new rule that would ban non-compete agreements nationwide.

Here in Los Angeles, California state law already heavily restricts the use of non-compete agreements. So if your business has questions or concerns about whether it can effectively use a non-compete, it is best to contact the Los Angeles employment attorneys at SLG to learn more about this area of law as well as other strategies used to protect a company’s interests.

In Los Angeles Most Non-Competes Are Illegal

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AdobeStock_287591012-300x200Starting a new business venture is an exhilarating journey, but also involves significant financial risks. Seasoned entrepreneurs understand the importance of safeguarding their personal assets from undue exposure. If you’re an aspiring entrepreneur in the Bay Area embarking on your first startup, the experienced San Jose startup and financing lawyers at Structure Law Group can provide valuable guidance on developing a comprehensive asset protection strategy.

Although every situation is distinct, here are a few essential considerations to keep in mind when safeguarding your personal assets from potential business liabilities:

Create a Limited Liability Business Entity

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AdobeStock_193656039-300x200Many Californians start their own business without creating a separate legal entity. An individual who does this is known as a sole proprietor. If this describes your current setup, you may want to consider adopting a more formal structure, such as a limited liability company, as your business continues to grow. The California LLC attorneys at Structure Law Group can advise you of the risks and rewards of such a move.

Legal Liability and Tax Considerations

The benefit of being a sole proprietor is that you generally do not need to file much if any legal paperwork. Any income or losses incurred through the business is simply reported on your personal tax return at the end of the year on your IRS Schedule C.

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AdobeStock_531731015-300x200The Silicon Valley region hosts numerous startups that have sought counsel from Structure Law Group to support their business growth. As San Jose business attorneys situated in the heart of Silicon Valley, Structure Law Group, LLP actively aids our clients in maximizing the potential of their new ventures. Our attorneys adopt a life cycle approach, providing guidance on entry strategies, growth management, and exit mechanisms to ensure comprehensive support at every stage of their journey.

The Silicon Valley business lawyers at SLG offer you a full-range of legal services to startups.

While every business is different in terms of their needs and plans for growth, here are five general tips to keep in mind when building your own startup.

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