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Business Formation

Thursday, November 14, 2019

What Is the Difference Between an LLC and an LLP?


One of the major decisions you will take on as you start up your business is what type of business entity to select. There are pros and cons to every type. Understanding your options is the first step in making an educated decision about this important step in the business formation process.
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Thursday, October 10, 2019

What Is a Certificate of Formation?


Starting a business is an exciting time and one filled with important decisions to make and tasks to undertake. If you have decided that establishing your business as a Limited Liability Company (LLC) there are certain regulations that you will need to comply with in order to successfully create a valid LLC. While there are specific procedures that you are required to follow and formalities that must be observed, an LLC is a great choice for your company because of the benefits it provides.
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Tuesday, August 27, 2019

Shareholder Agreements


There are several documents that are foundational in starting a business. A shareholder agreement is one such document. The shareholder agreement essentially lays down how the business will be run.
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Thursday, April 18, 2019

Formation of a C Corporation


Formation of a C Corporation

The most common corporation type in the United States is a C corporation. The benefits of this corporate structure makes it an attractive option to businesses. A C corporation is owned by its shareholders. The shareholders are charged with electing a board of directors and the board of directors, in turn, determine how the company will operate. The corporation is an entity legally separated from its owners.


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Saturday, March 30, 2019

Steps to Starting a Business

Texas Business Law Attorney

Putting that entrepreneurial spirit into action and forming your own business is a big step. Starting a business is the time to put all of those exciting ideas into a more detailed and concrete plan that will lay the foundation for its future. The Kumar Firm takes great pride in providing trusted legal counsel to those who are looking to start their own business. It is a journey filled with important decisions and legal considerations. The Kumar Firm will help you navigate these waters and help set your business up for success.

What are the Steps to Starting a Business?

The first step to starting a business is to develop a solid business plan. Get down into the specifics of what your business will look like. You will need to answer some tough, but necessary questions about your business such as:


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Friday, November 30, 2018

Funding Your Startup Business

What are my funding options if I cannot secure a bank loan?

Your first challenge as a new business owner is often determining how to finance your venture.  Nearly every business will require some sort of capital to start off strong.  To launch your startup, you may need to hire new employees, rent a space, invest in new equipment, market your business, and the like.  With interest rates rising and banks more closely scrutinizing loan applicants, many new business owners are turning to alternative funding options.  Our Austin, Texas business startup attorneys explore your options when it comes to funding your new venture below.

Small Business Loans

Perhaps the first avenue that comes to mind for raising funds for your business is a small business loan. Banks offer small business loans, but it can be hard to qualify.  Most banks will require a stellar credit score, strong business model, and at times previous business success.  Many new business owners will find themselves denied by large banks.  Alternatively, there are several lending companies that may have looser criteria for a loan.  It is vital that you research these lending companies, as some will charge exorbitant interest and could use predatory methods.  Your business startup attorney can help by reviewing any potential lending agreement to uncover predatory lending schemes.


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Friday, May 18, 2018

Selecting a Business Entity Under the New Tax Code

How has the new tax code altered business taxes?

The business world is abuzz with talk of how the new tax code may impact numerous critical aspects of a business’ taxes. Selecting a business entity for your new business has long been a critical decision for business owners. Your business entity will determine how you are taxed, as well as vital issues of liability and control over the business. Due to the tremendous impact of your entity choice on your taxes, it is possible that the new tax code could alter the entity choice of some new business owners. Our


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Friday, March 23, 2018

Opening a Liquor Related Business in Texas


How long does it take to obtain a liquor license in Texas?

Starting your own liquor line or opening a liquor store can be a profitable endeavor. Alcohol tends to have high profit margins, but opening a liquor related business comes with some challenges. You will need to meet stringent liquor licensing requirements in the state of Texas. The process can take months and not all applicants will ultimately succeed. Our Read more . . .


Friday, August 25, 2017

Forming a Corporation for Your New Texas Business


How do I form a corporation in Texas?

Selecting a business entity for your new venture is a critical step.  While there are several potential business structures to choose from, corporations have long been one of the most popular business entities.  If you have determined that a corporation is the right business structure for your business, you will now need to take the appropriate steps to form your corporation.  Our Read more . . .


Sunday, August 20, 2017

Selecting a Registered Agent for Your Texas Business


What is a registered agent?

You’ve taken the first steps towards starting your new business by selecting a business entity, but now you need to choose a registered agent for your business.  Naming a registered agent may seem like a formality, but it can have important implications for your business in the future.  As such, it is imperative that you understand the role of a registered agent and what you should know before choosing your agent.
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Thursday, March 16, 2017

Forming a Partnership in Texas


What are the advantages and disadvantages of a partnership?

Selecting a business structure is one of the most important decisions you can make for your new business.  Your business structure will impact your ability to grow and raise capital, designation of business duties, taxes, and much more.  For business owners with a partner, the most obvious choice for your new business may be a partnership.
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