Frequently Asked Business Questions
BUYING A BUSINESS – Some of the Pitfalls and Issues
Alternative Dispute Resolution
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Our Columbia Business Attorney Manages by Objectives
In their businesses, we encourage our clients to utilize the three principles of management which are planning, organization, and control; and we also encourage them to utilize management by objectives. Because we are not management consultants, it is not our role to provide that kind of assistance but we strongly encourage clients to proceed in a well-organized manner. However, it is our role to provide you with sufficient information so that you understand our perception of your needs and how to respond with the appropriate documents. Legal documents including, but not limited to the organizational documents, are necessary to go forward with the operation of the business from a legal standpoint. Let’s assume that we incorporate a business by preparing and filing a corporate charter. We would also prepare the minutes of the organizational meeting, bylaws, a shareholder’s agreement, and employment agreements as well as issue the stock of the corporation. We further encourage clients to memoralize all significant activities of the corporation such as ratification of lease agreements, adding additional shareholders, and other important acts by way of written resolutions in order to leave a sufficient document trail to demonstrate that the entity, (the business) is operating at arms length and performing the necessary corporate acts.
Corporations, limited liability companies, and partnerships should have clear, definite and certain agreements when more than two persons own the business entity in the event of death, disability or disagreement.
Ownership of United States Corporations by Foreign Persons
The Securities Exchange Commission in this country requires, under certain circumstances, a registration–which is mainly a disclosure of the names of foreign stockholders, identification information, percentage of stock owned by a foreign person, and the nature of the individuals ability to appreciate the risks involved in being a shareholder of a foreign business.
The types of businesses that we have represented over the years include consulting, information technology, professional organizations, trade organizations, and restaurants, including but not limited to pizza and carry out.
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