A business can be a labor of love, but it’s never without some obstacles and a lot of hard work. Running your own business provides a freedom that most do not enjoy.
However, there are a host of issues that need to be resolved in the planning process.
At Tooher and Contreras Law, we patiently walk you through the legal maze that accompanies the formation of a business. Everything from operating and buy sell agreements, to employment contracts and succession planning; we're experts in the field and provide a peace of mind that is key in allowing you to do what you do best – run your business!
An operating agreement is a fundamental document to have in place especially if you are setting up a limited liability company (LLC). This is a legal agreement between members that serves to prevent any future disputes and also provide clarity.
A well-crafted operating agreement minimizes messy litigation down the road that is complicated and always costly.
Buy Sell Agreement
Like an operating agreement, a buy sell agreement is a contract between the owners in a business that determines how to handle a departing owners share of the company when they leave. This is often a highly litigated and contentious issue if not handles properly at the onset of the company.
No matter what, an experienced attorney is required to draft the necessary language that is designed to prevent misunderstandings and potentially expensive legal action down the road.
Once a business is up and running, hiring employees is naturally the next step. If you find yourself in this situation, you deserve a pat on the back. Your business is likely generating enough revenue so you can afford to pay someone to hopefully grow even further. Employment contracts protect your business and your employee alike.
We help business owners flesh out the integral components (position, compensation, schedule, duration, responsibilities, benefits, termination, non- compete, dispute process, and severability) of the contract and place them in a safe and secure position to go out and begin to hire.
A must for any business, a succession plan details what will happen in the event of the owner(s) retirement, disability or death. The survival of the business depends on this document. We work closely with owners to determine ownership and management transfer decisions, tax liabilities, methods with which to resolve disputes and other matters.
A succession plan is often pushed to the side during business planning but should be a priority for every new business owner.