Business Formation and Transactions

Shreveport Business Attorneys

The primary reason for forming a business entity is to protect your personal assets in the event of something going wrong with your business. If one of your employees hurts somebody within the course and scope of your business, you don’t want your personal assets to be affected. Forming a legal business entity will protect your personal assets from business losses and business liability.

Our lawyers regularly advise entrepreneurs and business owners on which form of entity — S corporation, Limited Liability Company (LLC), professional association, or partnership — is right for their commercial enterprise. To help our clients select the right business entity, our lawyers will take the time to understand your business and the liability risks involved.

One of our clients was interested in forming an S corporation, which her accountant recommended for tax reasons. After discussing the client's business goals, our lawyers pointed out that an LLC can choose to be taxed as an S corporation. By doing so, our client could combine the flexibility and liability protection of an LLC with the tax benefits of an S Corporation. In addition, through Limited Liability Company formation, our client would pay no franchise taxes for her business.

Business Startup Agreements

Our lawyers also draft business startup agreements, such as:

• Partnership agreements, which are essential whenever you go into business with another person
• Articles of incorporation and bylaws for corporations
• Operating agreement for limited liability companies
• Trade secret and noncompete agreements to protect proprietary information that is unique to a business
• Buy-sell agreements, to spell out how the business could be sold in the event of divorce or other events

Business Transactions

Our business lawyers represent manufacturers, service businesses, holding companies, car dealerships, property management companies, and high-net-worth individuals in transactions ranging from assistance with small bank loans to multimillion-dollar mergers, acquisitions, and divestitures.

We often represent clients who are buying or selling businesses. Our lawyers will perform the legal due diligence to ensure that you get what you want from a business transaction. For example, if you are buying a business, it's important for your lawyer to look at the financial records to make sure you get what you are paying for — and more importantly, that you don't get what you don't want. If you are buying only the assets of a business, you don't want to take on any of the liabilities.

Our Business Attorneys

Ronald Weems has been engaged in the practice of commercial law since 1974 and is one of the leading business lawyers in Shreveport. Joseph Gilsoul is a board-certified tax attorney who spent six years with the Internal Revenue Service as a revenue agent and appeals officer. Robert Shemwell has over a decade of experience in business and real estate transactions and bankruptcy law.

Free initial consultation: Contact a business formation attorney at Weems, Schimpf, Gilsoul, Haines, Landry & Carmouche (APLC).