Texas has quite a few progressive business statutes which allow business owners immense flexibility when planning and structuring a business. Mergers and acquisitions are more often than not complex business transactions requiring experienced legal guidance. A merger or an acquisition can be structured in multiple ways, each having the same result but possibly affecting shareholders and creditors of the existing companies in different ways. A good business lawyer primarily will explain the pros and cons of each structure available.
With the expansion of the Internet, an array of new business concepts have emerged from around the world offering easy ways to make money. Like other Americans, Texans have been victims of phony schemes that offer lucrative business opportunities. To protect consumers from being duped, Texas has enacted the Texas Business Opportunity Act to regulate business opportunities.
One of the biggest advantages of running a closely held family business is the ability to seek professional help from family members. Separate taxation rules are applicable for family employees in a family owned business, and it is necessary to be aware of these rules if you are running a closely held family business in Texas.
As many Texans know, contracts are the ties between businesses and between individuals that govern most business and many civil relationships, allowing those involved to have some expectation that each party will fulfill whatever obligation it agrees to in a contract. Although oral agreements sometimes suffice, a written contract ensures that both parties have indisputable records of their own and the other party's obligations. Legal action in the event of a breach of contract is also much easier to pursue.
Entrepreneurs have reputations for strengthening the American economy. While the idea of setting up one's own enterprise is definitely appealing to most Americans, the challenges and intricacies related to business formation can be discouraging. Often, people who want to start their own business lack suitable counsel, which may be useful in preventing common but often-repeated errors in terms of planning or complying with relevant regulations.