Planning to start a business can be an exciting process, but it also can come with challenges. Many new business owners are unsure of the benefits and risks associated with different business structures.

Similarly, new business owners often are uncertain of the licensing, tax, and other regulatory obligations associated with their startup. Starting a business requires a great deal of time and energy.

Instead of trying to manage your business formation process alone, contact Prince William County business lawyers. Skilled business lawyers can help you through the formation process, create business contracts, and defend your company in court if necessary.

Benefits of a Limited Liability Company

One of the most common types of businesses in Prince William County are limited liability companies (LLCs). This type of business structure is popular because of the beneficial protections it provides to the business owner. These companies offer debt protection to the owners, also known as LLC members.

One such protection is that LLC members are not held personally liable for the company’s debt. This means that creditors cannot go after an owner’s personal assets. Members of the LLC personally pay taxes on the business’s income, rather than the LLC being taxed as an entity.

Deciding on a person’s new business’s structure is an important first step. To learn whether an LLC is the best choice for a startup, they need to contact Prince William County business lawyers.

Drafting Business Contracts

Business contracts are a vital part of running any company, small or large. Creating a valid business contract allows a company to engage with other companies, the government, vendors, and employees. For Prince William County businesses, some of the most common types of contracts include:

  • Vendor agreements
  • Property or equipment leases
  • Independent contractor agreements
  • Partnership agreements
  • Employment contracts
  • Non-compete or non-solicitation agreements
  • Purchase orders
  • Non-disclosure or confidentiality agreements

These types of agreement and contracts can be legally enforceable in court if validly drafted and executed. This means that when a party to an agreement or other types of contracts fail to meet their obligation as outlined in the contract, the other party can sue. Failing to meet a contractual obligation is known as breach of contract.

One of the most common scenarios for breach of contract cases involves vendor or contractors who fail to provide promised products or services. When that happens, the business can sue the vendor or contractor for financial damages, the promised product or service, or both.

Breach of Contract Claims

In some breach of contracts cases, both parties may try to negotiate a resolution outside of court. However, sometimes business disputes cannot be resolved between the parties. When that happens, it may be in a business’s best interest to hire an attorney to try to negotiate a resolution and, if that proves impossible, to litigate the dispute.

If someone’s business partner, employee, or vendor breached their contract, Prince William County business lawyers can help. They can represent their client’s business’s best interests.

Contact a Business Attorney Today

If you are getting ready to start a new company in Prince William County, contact experienced Prince William County business attorneys today.

Whether you are considering a general partnership, an LLC, or a more complex corporation, experienced Prince William business lawyers can help. They can also represent or defend your business in the event of a dispute or breach of contract, if needed.