Utah lawyer handles buy-sell agreements and contracts
When you are starting a business, alone or with partners, you must make many critical decisions that will affect your potential success. D. E. Coombs Law, PLLC advises Salt Lake City, Utah business owners on business formation and financing, tax planning, contracts, sale and purchase of businesses, and succession planning. I can help you with the legal issues that pertain to your business so you can focus on what matters to you.
Responsive counsel assists in business formation
I evaluate your business circumstances and goals to help you choose the most advantageous legal structure for your enterprise, which has vital implications for taxation and liability.
- Sole proprietorship — If you are an individual who plans to operate a small business, this arrangement is the simplest, in that there is no distinction between you and your business; you have direct personal liability to your clients and vendors, and you are personally responsible for paying taxes.
- Partnership — If you are going into business and sharing profits with others, a general, limited or limited liability partnership makes sense. A partnership agreement will detail how profits and contributions are to be shared.
- Limited Liability Company — LLCs are similar to partnerships but provide added protections against liability, because the owners are not personally responsible for the company's debts or other liabilities.
- Corporation — Businesses with multiple owners may establish a C corporation that earns profits and is taxed as one entity or, if there are only a few owners, an S corporation that allows profits to be passed to shareholders, who are taxed as individuals.
I can provide valuable advice and help you select an entity and file articles of incorporation for your new venture.
Meticulous attorney helps clients forge practical, enforceable contracts
A well-written contract can reduce the need for future litigation by providing for all foreseeable circumstances. I can protect your rights through:
- Contract drafting — I draft contracts with an eye toward making sure the terms clearly carry out your objectives and protecting your best interests in light of contingencies.
- Contract review — My firm provides meticulous contract review services, and I exercise due diligence in checking the background and business activities of the other parties to the transaction, as well as in looking for potential deal-breakers.
I am dedicated to helping you achieve the results you desire by ensuring the terms of the agreement protect your interests.
Guiding clients on providing for business succession
I can advise your business on crafting a buy-sell agreement defining how the business may be transferred to new ownership upon your exit, disability or death or that of other partners or shareholders. This includes instructions on valuation of the business, how a sale may be financed and who may or may not be a buyer. I can also structure a sale in ways that reduce taxes or stagger payments over time, which can be of help in your personal tax-planning decisions.