Austin TX Business Law Blog

Monday, July 25, 2022

The Basics of Starting Your Own Business

So, you have decided to make the dream of owning your own business a reality. Congratulations! Being a business owner can be a great and rewarding endeavor. To build your business on solid ground, you will want to take care to do your research, check-off all of your to-do list items, and be sure to observe all of the red tape and formalities that lie in wait for you. Believe us, taking your time at the start of things to be sure you are forming your business on solid ground will be more than worth it as you watch your business thrive from here on out!

The Basics of Starting Your Own Business

Before getting into some of the finer points of starting your own business basics, it is worth mentioning that some entrepreneurs looking to start their own business often end up considering buying an existing business instead of starting a new business altogether. Buying an already existing business has many advantages as there is already the main business structure in place.
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Thursday, June 30, 2022

Force Majeure Clauses

Sometimes, despite our best efforts, life and the world throw us curve balls that few could have foreseen and are completely beyond your control. Because of this, sometimes a business contract you entered into may become impossible or impractical to perform. This is where a force majeure clause can come in handy.

Force Majeure Clauses

A force majeure clause in a contract is a provision excusing one or both parties to the contract from performing their contractual obligations when circumstance beyond either parties’ control arise which make performance of the contract either impractical or impossible.

What would constitute such circumstances that would trigger a force majeure clause? Well, these clauses themselves usually list qualifying events.
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Sunday, June 26, 2022

The Value Standard in a Partnership Agreement

The value standard in a partnership agreement is, as it suggests, the standard at which the partnership is valued. It is a critical component of a partnership agreement and one which should be serious considered before being memorialized in this legally binding contract. At some point, a partner may want to leave the partnership. In this case, the value standard will play a pivotal role in determining the equity the exiting partner has in the partnership. When an improper value standard is used, it discourages partners who want to leave from leaving which can lead to big problems in and of itself.
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Tuesday, May 24, 2022

How to Choose the Right Business Partner

There are few things more exciting to an entrepreneur than a new business idea. As you forge ahead in making your business dream a reality, you may, at some point, find that your endeavor could greatly benefit from some help. A business partner can be a great way to bring in a particular skillset or resources into a developing business.
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Saturday, May 21, 2022

Liquidated Damages Clauses in Business Contracts

Contracts are not always honored. Breaches do occur and if you are a business owner it is an important possibility to plan for. While we put contracts in place hoping to see them fulfilled, there is always the chance that one or both parties to the contract will not uphold their end of the deal. In the event of a contract breach, the legal system provides various mechanisms for either enforcing the contract or for compensating the party impacted by the other party’s breach. Enforcing a contract or seeking damages sustained due to a breach of contract, however, can lead to some rather involved and costly litigation.
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Sunday, April 17, 2022

What is a Professional Corporation?

There is a fairly wide range of business entity options from which you can choose from when starting a new business. Depending on the type of business you are planning for and who will be owning and operating the business, there may be further options still. A professional corporation, for instance, may be an option for some.
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Thursday, April 14, 2022

Forming an LLC in Texas

A Limited Liability Corporation or “LLC” is a popular business structure to select. It affords owners many benefits, including pass through tax benefits, flexibility, and personal liability protection. If you are an entrepreneur looking to form an LLC in Texas, here is an overview of the formation process.
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Monday, March 21, 2022

Avoid these Common Family Business Mistakes

Family businesses can be a great source of pride. After all, family members pour their time, financial resources, and hearts into these kinds of entrepreneurial endeavors. While they come in a variety of shapes and sizes, family businesses all maintain single family ownership. It can be difficult to keep a family business in the family. Along with the other challenges any other business can face, there are struggles that can pop up for family businesses in particular.
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Friday, March 18, 2022

Creating a Remote Work Policy

While some companies have been offering remote work opportunities for years, others may have been pushed in this direction by the COVID-19 pandemic or by an increasing demand for such arrangements by potential employees. Regardless, if your company has always offered remote work, is newer to remote work, or is considering remote work options for your employees, the time is now to make sure you have a comprehensive remote work policy in pace. Here are some tips to creating such a policy.

Creating a Remote Work Policy

Remote work can be a great way to attract a broad range of qualified employees who enjoy the commute free life of remote work. As a unique work arrangement, however, it is important to put a solid remote work policy in place so that everyone is clear as to the expectations for the remote work arrangement.
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Monday, February 14, 2022

Hiring an Attorney for your New Business is a Must

Starting a new business is a big and exciting endeavor. It may seem, however, as if there is a never ending to do list before you. On top of this, you may be worried about covering start-up costs.
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Friday, February 11, 2022

Virtual Mediation in COVID-19 Times

COVID-19 brought unprecedented times to all of us, businesses included. Over the past few years, COVID-19 has persisted and businesses have been hard hit with its multifaceted impacts. As businesses struggle with lockdowns, social distancing, and competing in an ever changing market, there will continue to be problems arising. There will be conflicts businesses need to resolve. On top of all of the hardships businesses have faced lately, the prospect of stressful, costly, and time consuming litigation may just be too much to bear.
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