LLCs, Corporations and Partnerships
In today’s economy, making a profit can take all of your effort. You don’t need the additional burden of worrying about legal headaches. The business lawyers at Cannon Law, P.C. can help you start your business off in the right direction and provide the guidance and representation need to grow. While many small businesses begin as a sole proprietorships (individual ownership), there often comes a time when you need to consider forming a Limited Liability Company (LLC) or Corporation. An LLC or corporation can also be easily formed at the time you begin a new business. Read more…
Choosing the Right Business Entity
Choosing the correct form for your business is one of the most important decisions a business owner can make. You must consider which form best suits your needs with regard to taxes, liability, ease of operation and the ability to raise capital, just to name a few of the issues involved. Read more…
Protecting Directors & Officers
While Corporations afford a great deal of protection to shareholders, the officers and directors of corporations are sometimes sued by shareholders or third parties in their individual capacities. It is important for those officials to be protected from liability resulting from their business decisions and from personally bearing the cost of any litigation.
Acts Giving Rise to Liability
No matter what position a person holds in a corporation-officer, director or employee—they may be held liable for negligent or intentional acts that they personally performed. Read more…
Common Mistakes in Starting a New Business
Insufficient Capital
Many small businesses have little chance to succeed because they do not have sufficient capital to sustain the business during its initial stages or during economic downturns. Even if you have a good business plan, it may take several months or years for your cash flow to stabilize so that you can meet your business’s obligations. Take a realistic look at how long it will take you to get your business off the ground and be sure that you have enough capital to survive in the meantime. Read more…
Annual Business Checklist
Once a business is created, it is important to conduct an annual review to make sure that your business has complied with all legal requirements, identify any potential problems and plan for growth or changes. The business lawyers at Cannon Law, P.C. are pleased to offer an annual checkup meeting with our business clients, either at your business or our offices. Appointments are available after hours and on weekends to suit your requirements. Read more…