Panama City Business Litigation Attorney
Assisting Business Clients in Panama City, Florida
Do you need legal representation in a business lawsuit or dispute in the Bay County area? If so, please consider contacting my office for a consultation about the situation. As a Panama City business litigation lawyer, I am committed to helping my clients with the legal service needed in most business litigation matters. After an initial consultation, I can advise you on the issues, what to expect, and how best to proceed.
Business Litigation Cases
Business disputes can arise between businesses or between an individual and a business. These disputes can be based on allegations of unethical behavior, fraud, infringement of patents, trademarks, or copyrights, breach of fiduciary duty, contract disputes, negligence or malpractice, or can be about any transaction or aspect of a business enterprise. Generally, the accusation of some type of wrongdoing forms the basis of any business lawsuit with the plaintiff asking for damages or that some action should or should not be done through the courts.
If you are involved in a business dispute or considering business litigation, it is important that you understand the legal process you may be undertaking, including courtroom procedure which can be complicated. Knowing what to expect can help you to be prepared. In my capacity as a Panama City business litigation attorney, I can provide guidance regarding your courtroom procedure and legal options for your situation.
Do you need legal representation in business litigation? Contact the Panama City Business Litigation Lawyer , Max W. McCord III.
What are some of the benefits of conducting business through a legal entity?
One of the most important benefits is the protection of your personal assets against the claims of creditors. Generally speaking, directors, officers, managers, members, and stockholders (the interested parties) are not held personally liable for the debts and obligations of the business entity. The interested parties should be limited in their personal liability to the amount invested in the company. Another legal benefit is the transferability of ownership, which can be done either in whole or in part. Also, some estate tax planning options are only available to business entities. Retirement funds, such as 401ks may be established more easily. Also, a business entity can acquire and establish its own credit rating.
What are some of the mistakes people make when going into business?There are always risks involved in going into business. As most people know, a majority of small businesses do not succeed in the long run. Mistakes of new business owners may include the lack of a realistic business plan, underestimating costs and tax liabilities, and unfavorable business contracts/agreements. Even more problematic is a failure to understand the business or the marketplace, underestimating the competition, and/or not being effective at managing a business. Responsibility for these latter areas ultimately falls to the owners, but sound legal advice can substantially improve the chances of success.
How can I be protected from liability claims that arise from my business?
Generally speaking, business owners doing business as limited liability companies, corporations, or limited partnerships do not have personal liability for the obligations or debts of the business. This assumes that no personal guarantees have been executed. If the business has been properly created, it is a separate legal entity. The details of formation are important, and the filing fees must be paid. If properly created and maintained, the assets owned by the business should be the only ones that are subject to debt or other liability considerations.