Legal Question in Business Law in Texas

Starting new company with 2 others

Myself and two partners intend to start a marketing/ membership company in Denton Texas and would like to know what type of legal entity we should create. We plan to do business outside of the state in the near future, if that matters. The three of us plan to share an equal amount of responsibility and income and will be generating a partnership agreement. What is the best way to set up this business and are there any other things we should consider?

Thank you!


Asked on 10/10/06, 4:06 pm

2 Answers from Attorneys
Arthur Geffen Arthur H. Geffen, P.C.

Re: Starting new company with 2 others

You should really contact a lawyer so that all the competing interests can be balanced. There is the issue of limited liability, the issue of income taxes, the issue of state taxes. Only a professional can work through these with you

Read more
Answered on 10/10/06, 4:11 pm
Peter Bradie Bradie, Bradie & Bradie

Re: Starting new company with 2 others

You need to sit down with a business lawyer to discuss short-term, intermediate, and long-term goals. Then the lawyer needs to know what the individuals are looking for before a decision can be made as to the form of business entity. There are too many factors to consider before trying to do it yourself.

Read more
Answered on 10/10/06, 5:25 pm


Related Questions & Answers

More Business Law questions and answers in Texas