Lovelace Law, P.C. is a Fort Worth business law firm experienced in the legal process of business formation. But for those unfamiliar with how to register a business under Texas law, it can seem daunting. Early plans for a business seldom take into account what the business entity or structure will be. Frankly, it’s not the most exciting part of planning a new venture, but it is absolutely a critical one. The truth is: the wrong business structure could devastate an otherwise great venture. Don’t panic. We’re here to help.
Questions about Business Formation in Fort Worth, Texas
- How do you legally register and form a business in the State of Texas?
- Who or what entity do you register and form your business with?
- How long does it take to form a business?
- We hear these questions all the time. And beside the questions regarding the process of business formation, there are questions regarding the business itself.
- What entity-type is right for the business you are intending to operate?
- Will there be officers, and if so, what positions?
- What is a registered agent?
When you work with our Fort Worth business law firm, we’ll go through each of these questions with you to determine which entity will set you up for future success. (After all, there are several business entity types to choose from). The entity-type alone has significant effects as to how liability is to be determined between individuals within the business, how decisions are to be made on behalf of the business, and whether those decisions need to be formally maintained and updated as part of a business record book. It’s a big decision that you shouldn’t make alone.
Examples of When to Choose Certain Business Structures
Lots of differences, similarities, and peculiarities exist among all the legal business entities. But here are just a few examples:
If you are alone or have a small group of individuals looking to form your business, a limited liability company (LLC) may be the best business formation option for you, as it provides liability protection for the individuals operating the business (known as the “corporate veil”), while also requiring less corporate formalities that a traditional for-profit company would otherwise require.
Alternatively, if you have a larger group of individuals interested in creating a business, a traditional for-profit company may be the better option for you to take, as the corporate formalities provide for a more formal decision-making process that may be more conducive for larger groups of individuals to make decisions on behalf of the business, while also providing the individuals liability protection with a corporate veil.
Looking for a Business Law Firm in Fort Worth?
The examples above are just that — examples. Your unique situation deserves custom legal counsel to make sure you’re making the best decision when it comes to business formation. If you are considering forming or reforming a business, do not hesitate to contact the business attorneys at Lovelace Law to help answer the above questions and assist you in making your dream business the best it can be!
