Business Law FAQ

Frequently Asked Questions

Business Law Frequently Asked Questions and Answers

The type of business entity that you form depends upon several factors.  We will discuss the business to be transacted; the tax consequences of the transactions; the number and identity of owners, employees, and contractors; and your overall goals and objectives before finalizing the entity to be formed.

The types of business entities are more than most people think. They include c-corporations and s-corporations (which may be for or non-profit entities, professional corporations or otherwise); limited liability companies (which may be disregarded, partnership, s-corporation, or c-corporation taxable); partnerships (which may be general or limited); joint ventures (which may be in the form of a limited liability company, partnership, or otherwise); limited liability limited partnerships; and sole proprietorships.  Of course, there are also additional variances to consider and even more entities in other states and countries which conduct business in the States of Florida and Georgia.

The most important thing that a lawyer does for you is to protect you.  After that, we guide you and make the chore of complying with local, state, and federal laws easier.  We also work with you over time, making you feel more comfortable and give you peace of mind.

Absolutely!!!  Remember, your business is a legal “person” for tax purposes.  So, just as you have a social security number, your business has its own Federal Employer Identification Number, and usually each business should have its own FEIN.

No.  This is why it is important to talk to an attorney and why we work closely with clients to determine overall objectives.

Every person’s situation is unique.  To claim that one tool or method is the best falls short of prudent advice.  Instead, what we do is work with our clients to identify the assets, actual and potential liabilities, and goals and objectives, and then structure the most appropriate plan.

Not only is every person’s situation unique, but nothing is ever guaranteed.  Thus, it is important to discuss with our clients to identify assets, actual and potential liabilities, and goals and objectives of the client and his business(es) and then structure the most appropriate plan.

Business licenses are issued by the applicable city or county in which the business is located.  Although the application process is quite straight forward, the actual time it takes for you to receive the business license depends upon the issuing department.

Because this is a right to work state, it is imminently important that business owners have written contracts with their employees and contractors.  The laws of the State of Georgia not only give an employee the right to work, they also give parties the right to supersede certain rights and restrictions by written agreement.  Thus, as long as the required elements of any restrictive covenants are included in the contract, businesses have great flexibility in limiting their liability and creating additional protection for business and personal assets by reducing certain terms to writing.

The primary reason to use the services of an attorney is that we think of the ancillary matters that non-attorneys often miss.  We consider the myriad of facets of each issue that you discuss.  When a client references a single item of concern, we think of the multiple other items which may be impacted or which may arise as a result.  Thus, we can be the one that salvages a transaction, preserves your assets, and protects you.

No.  No professional advice and no document is guaranteed.  We are human, our clients are human, opposing and third parties are human, judges and juries are human.  What we can do is provide you with the tools to give you the maximum leverage possible for succeeding in a transaction, for preserving assets, and for protecting you.

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