Starting a business can take years. After all, rarely does one start with the business idea. Instead, you start with some product or service idea and then try to figure out how to create it and monetize it. That is why it is so common for Tampa, Florida, business owners to have a business up and running before they even think about the organization itself. This is where Conwell Business Law, LLLP, can come to our aid.
Potential issues
If you have not created a business entity with control documents, you likely are open to litigation. First, disputes can occur within the company itself as no one has their expectations outlined in a writing. Managers and owners may disagree on management and governance issues, which could lead to litigation, loss of production, loss of employees, employee morale issues, etc. Shareholders could sue for unfair treatment. Those at the top could even face accusations of self-dealing.
However, with the appropriate business entity, formation and operation documents, many of these issues can be avoided or mitigated. However, even where a non-litigation solution cannot be found, we fight for your rights in litigation. The attorneys at Conwell Business Law, LLLP, understand business formation and governance issues and can provide practical solutions to complicated internal business issues.
Outside attacks
While issues can pop up from within the organization, they can also come in from outside the organization. This is why liability protection is such a big piece of selecting the right Tampa, Florida, business organization.
For example, in many states, if you do not file for recognition of your business, by default, you are a sole proprietorship. This means that you alone are responsible for everything, including the liabilities that flow from the business itself. This means that everything you own, both inside and outside the business, could be at risk, should you lose business litigation. This includes creditor liability as well, should your business fail.
Liability protection
This is why many Tampa, Florida, businesses owners select an entity that provides liability protection. However, while limited liability companies are all the rage now, they may not be right for your business. But this is what the attorneys at Conwell Business Law, LLLP, are trained to know. They can tailor your business plan to your needs and expectations.
