Top 10 Things To Do When You Set Up A Business In Texas

By | Business Lawyer | No Comments

set up a business in texasSo you want to set up a business in Texas? Here are the top 10 things you’ll want to do to get started…

1. Talk with an experienced Texas business lawyer. Adjust your plans based on that consultation.

2. Decide on the type of business entity you want to use to shield yourself from personal liability. Many startups choose to form a Texas limited liability company (LLC).

3. File the right paperwork with the Texas Secretary of State’s office to form your new business entity.

4. Apply for a sales tax permit from the Texas Comptroller’s office.

5. Get an Employer Identification Number (EIN) from the U.S. Internal Revenue Service (IRS). Plus, tell the IRS how you want your entity treated for tax purposes.

6. And you’ll want to apply for any other permits or licenses you may need from the state, county, city, etc. Your type of business (and its location) will determine which permits and licenses to get.

7. Set up your business’ bank accounts and apply for company credit/debit cards.

8. Select an accountant for your business. Your CPA can help you with federal income taxes — and assist you with Texas franchise tax reports.

9. Get business liability insurance. If there are two or more owners, consider key person insurance too.

10. Verify you’re running everything in your business within your new Texas LLC or other entity. For example, your business’ website should registered be in the company’s name — not an individual.

Form A Texas LLC: How To Do It Right

By | Business Contracts, Business Law Book, Business Lawyer | No Comments
form a texas llc limited liability company

The second edition of the Quick Legal Guide “How To Form A Texas LLC” by Business Lawyer Mike Young is now available.

What You’ll Find In This Quick Legal Guide

The book reveals…

  • The steps you need to take before Texas LLC formation
  • How and where to file the paperwork to form a Texas limited liability company
  • Federal and Texas state tax issues for your LLC
  • Why your Texas limited liability company should have an operating agreement — and what to include in the agreement
  • How to set up bank accounts properly for your new Texas LLC
  • 4 types of insurance protection you should consider getting for your Texas limited liability company
  • What to include in employment agreements

And the guide also contains a Quick Start Checklist plus a Resources section to save you time when setting up your Texas LLC.

Where can you get this Texas LLC formation guide?

Want to form a Texas LLC quickly? You’ll find the guide in both paperback and Kindle electronic formats at Get your copy today.

Are Your Texas Gym Waivers Enforceable?

By | Business Contracts, Business Lawyer | No Comments
texas gym waivers enforceable

Do you own a fitness facility in the Lone Star State? If so, are your Texas gym waivers enforceable?

Or will you file bankruptcy when someone gets hurt?

Related Article: Texas Health Spa Act Security Requirements For Gyms And Martial Arts Studios

Let’s face it…

Liability insurance is essential to have…but it’s also expensive. And it rarely covers all the claims made in a personal injury lawsuit by a gym member or visitor. And that’s if the insurer even agrees to cover the claim in the first place!

Of course, you also lose irreplaceable time dealing with legal claims…even if there’s no lawsuit.

Need to reduce your risk of financial disaster? You’ll want get the right gym waivers. And get them signed by both members and non-member guests to your fitness facility.

Related Article: 7 Things You Must Include In A Texas Gym Membership Contract

Remember this…you’ll want the proper person signing. What if your member or a visitor is a minor? Who signs the gym waiver?

And did you know there are different waivers for members versus guests?

Naturally, you’ll want your waiver to be a separate legal document. Don’t hide it in the middle of your gym membership agreement.

Do you need new Texas gym waivers prepared? Let’s talk. Set up a phone consultation with Texas Business Lawyer Mike Young today.

B2B Contracts: Who Owns The Intellectual Property?

By | Business Contracts, Business Lawyer | No Comments

B2B Contracts Who Owns Intellectual PropertyB2B contracts often involve the creation or use of intellectual property (IP). Who owns the copyrights, trademarks, patents, etc. in your business deals?

The answer to this question may surprise you. Because many agreements don’t address IP ownership.

When Your Business Creates Intellectual Property

The terms of your B2B agreements will depend upon who owns the IP you create. Will the other party own the IP? Or will your business keep ownership but license IP use to that party?

When Your Business Receives Intellectual Property

If the other party is delivering IP to your business, what exactly are you getting? If the party created the IP, will you own it or are you only a licensee?

What does your business agreement say about ownership? And if it says nothing, what are you buying?

And what if the party delivering the IP doesn’t own it? Will your company receive a transferable license? Does the party have the right to sublicense the IP to you? What if there’s open source IP?

What IP Can Be Transferred?

Are you delivering or receiving intellectual property in your B2B contracts? It’s important to note that one can’t transfer more rights than one owns.

If the party delivering the IP under the contract, the recipient can’t insist upon ownership. Because the deliverer doesn’t own it in the first place.

Price And IP Rights

If you don’t know what IP rights are being delivered under your 2Bb agreements, it’s likely the contract pricing is inaccurate. Because the recipient likely overpays or underpays depending upon the rights delivered.

This can lead to misunderstandings and lawsuits when one of the parties feels cheated from the deal.

Where To Get Help With Your B2B Contracts

If you need a new business agreement or help with an existing one (no lawsuits), it’s time to talk with Business Contracts Lawyer Mike Young. Schedule a phone consultation today.

B2B Agreements: Don’t Get Yours Mistaken For Consumer Contracts

By | Business Contracts, Business Lawyer | No Comments

B2B Agreements: Don’t Get Them Mistaken For Consumer ContractsDo you ink deals with B2B agreements?

The B2C Danger For B2B Deals

The last thing you want is for it to look like you’re using business-to-consumer (B2C) contracts. Because there are many laws and regulations that provide consumer protection.

This extra level of protection for consumers doesn’t apply to business-to-business deals. Courts assume there’s greater business savvy if the deal is between two companies.

On the flip side, consumer protection laws tilt the field in favor of the individual. And it’s easy for a business to lose if a consumer disputes contract terms.

Adding insult to injury, what if your agreement is B2C and violates consumer protection laws?

You may be liable for statutory damages, the consumer’s attorney fees, and court costs. And that’s not counting expenses from any related government investigation. Imagine the costs incurred when a state’s Attorney General or the FTC comes after you.

So you’ll want your B2B contracts to appear as such.

This is particularly true when the other party is an individual. Ideally, that individual will have a business entity (e.g. a single member LLC) as the contracting party. Or he does business as a sole proprietorship using a company name (e.g. “Jim’s Printing Co.”).

Where To Get Help With B2B Agreements

Do you need B2B agreements? Or have a contract that you want reviewed or revised? Schedule a phone consultation today with Business Lawyer Mike Young.