Unlike most forms of litigation where there is a single individual with a claim against another person or entity, business law can vary greatly in how it evolves. Businesses may have claims against one another, against the government, or even within the business itself. Due to the complex nature of Round Rock business disputes, it is crucial to seek the advice of an attorney who has the knowledge and experience to handle your specific issue.
Contrary to public opinion, most business litigation is handled quickly and quietly to prevent further damage to the business, its leaders, and its reputation. Although some cases do go to trial, it is usually in the best interest of all parties to settle the case amicably. This strategy may be accomplished through Alternative Dispute Resolution (ADR). ADR encompasses several different forms of alternative forms of dispute resolution, including negotiation, mediation, and arbitration. Negotiation is when the parties settle the conflict between themselves with terms they both can agree on. Mediation involves a neutral third-party who assists the parties in reaching a solution. Arbitration also involves a third-party but, with arbitration, the decision is made by the third-party.
It can be extremely difficult to figure out which legal direction is the best fit for your business if not guided by a seasoned litigator and a general understanding of business law. Therefore, the remainder of this article will break down different forms of business structures offered in Texas, the weighty considerations of a business dispute, and the common types of Round Rock business litigation the Courts are accustomed to.
Regardless of your business’s structure, legal representation may be helpful in guaranteeing each parties’ personal and financial responsibilities are clearly laid out and protected from unforeseen liability. A business’s firm foundation is a major component of risk management, and choosing the right structure is the first step.
Sole Proprietorship – A sole proprietorship is exactly how it sounds. One person owns and operates the business with the necessary permits and licenses. This form of structure does not typically lead to inner-business conflict other than potential employment disputes.
Partnership – In general, a partnership is a business owned by two or more people who share equal or proportionate ownership. It encompasses the following:
Corporation – A corporation is a “legal person” with limited liability and protects its shareholders from personal liability. A board of directors typically manages the corporation for the shareholders.
Limited Liability Company – The business owners pay the taxes of the LLC as a part of their personal tax returns and have limited liability in proportion to their financial investment.
Time and Cost: Although most individuals go into a legal dispute with the goal of minimizing costs and reaching a resolution as quickly as possible, businesses are unique in that a lawsuit’s efficiency and low-cost efforts can make or break its overall future success. Round Rock business law attorneys must work with the flexibility needs by their clients while keeping distractions out of the client’s headspace so that their time and energy may be focused on keeping the business afloat while the litigation is progressing.
Bad Press: As with most businesses, there is always a story waiting to be told by local, state, and national journalism. Since more people are invested in the success (or failure) of your company, more people will pay attention if your business is the face of a lawsuit. It is important to weigh the severity of your claim’s impact on your business’s image when making any decisions regarding your dispute.
Please find below a non-exhaustive list of business law issues commonly handled within the Round Rock area:
Each type of business law issue requires careful representation in order to secure the best outcome for all parties. Although some shareholders and their investments may be legally protected, the state of their financial interests will likely depend on the meticulous organization of the business’s management team and attorneys handling the suit.
If you are currently dealing, or expecting to deal with, a business litigation dispute, it is crucial that you find a qualified attorney who is able to assist you with your specific legal needs. At Kirker | Davis LLP, we are happy to answer any questions or concerns you may have about your Round Rock matter. Contact us to schedule a meeting with an attorney today.