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Business Formation and Disputes | Creditor Rights | Collections |
Personal Injuries | Family Law
Business Formation and Disputes
The Law Office of Carrie M. Wilcox offers experienced, knowledgeable representation in the formation of your business, including partnerships, corporations and limited liability companies. Our attorneys are not only able to assist you in the selection of the proper business entity, but also offer aggressive, effective representation in contract disputes and litigation.
Partnerships: In Arizona, two or more individuals who own a business together are, by default under the law, a partnership. Although a partnership requires no formal writing to be binding, and a written partnership agreement will not protect an indiviudal partner's assets from creditors, a partnership agreement will clearly define the roles each individual partner plays, including each partner's financial rights and responsibilities to the partnership. Our attorneys have years of experience in drafting and reviewing partnership agreements to ensure protection for the client. We have also represented partners in civil actions to enforce rights and obligations against other partners, with or without written partnership agreements.
Corporations: In Arizona, business owners may incorporate their business as a way of legally distancing themselves from the real and potential liabilities of the business. A corporation is treated as a "person" under the law; that is, in most circumstances, it is solely responsible for its own debts, separate from those of the individual owners, or shareholders. However, holding a business as a corporation also means additional responsibilities for the shareholders. Certain formalities are required in order to maintain the corporate status. The Law Office of Carrie M. Wilcox has not only incorporated numerous businesses, but also assisted corporations with post-formation issues. In fact, our lead litigation attorney, Carrie M. Wilcox, is a former instructor of Business Law at the Arizona Paralegal Training Institute.
Limited Liability Companies (LLC's): In Arizona, the creation of limited liability companies as a form of business ownership has grown rapidly. LLC's combine the flexibility and favorable tax treatment of a partnership with the limited liability of a corporation. Limited liability companies also possess the pass through tax advantage, while maintaining no restriction on membership. Moreover, all members are granted limited liablity, i.e. their personal assets are protected. Attorney Carrie Wilcox can assist not only the small business owner thinking of forming an LLC, but also currently operating LLC's, no matter the size.
Disclaimer: Providing the above information does not establish an attorney-client relationship. To create such a relationship, both the attorney and potential client must sign a written fee agreement. The information contained herein is meant only as general information and is not meant to be relied upon for the purpose of taking legal action. You should contact an attorney in person for further and specific information. Carrie M. Wilcox is licensed in Arizona only. Information in this article may apply only to Arizona
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