Corporate Law Counsel in Boise, ID
Boise Corporate Law Counsel
At Taylor Law, we have assisted numerous businesses with general corporate law counsel in Boise, ID.
Our clients have included:
- Commercial landlords
- Real estate developers
- Contractors
- Manufacturers
- Importers
- Local franchises
- Healthcare companies
- Insurance companies
Legal Experience Matters
No matter what type of business you are involved in, Taylor Law may be able to assist you with corporate counsel. Our attorneys have an extensive background in the exact issues that businesses face.
Our firm is always up to date on business law matters. We’re able to efficiently and effectively solve the problems our clients are having.
Speak with a business litigation attorney immediately so that your business needs can be met.
Corporate Transactions | Buying or Selling
Buying or selling a business, or even an interest in an existing business, can become complex. It takes qualified and experienced representation to keep the complexities from negatively affecting your transaction.
Proper legal assistance is critical when negotiating a price and managing and preventing risks on both sides. We can greatly assist you in all matters related to corporate transactions.
Legal Assistance for Buying or Selling Businesses
Taylor Law helps clients pay particular attention to buyer and seller warranties in the agreement that could cause them serious trouble later on.
As a seller, you want to ensure that you are not making representations and warranties that will come back to haunt you at a later date. Similarly, a buyer obtaining a business or an interest in a business wants to ensure that the seller is willing to stand by their representations about the business, so they won’t be weighed down by legal demands from the seller at a later time.
Our firm helps clients by making sure the documents involved in the purchase or sale reflect the client’s expectations about the actual purchase or sale. That way, they can feel confident about the decision they are making.
Experienced Corporate Transactions
Our firm has extensive experience in the following areas:
- Stock option planning
- Asset purchase & sale agreements
- Stock purchase & sale agreements
- Debt and equity financing agreements
- Employment and consulting agreements
- Corporate reorganization
- Consolidation
- Shareholder and partnership agreements
- Operating agreements
Our goal is to actively protect your best interests, whether you are a buyer or a seller. It is extremely important to have a qualified attorney review your agreement, so it accurately reflects your expectations and provides protections that can help minimize your risk.
Corporate Reorganizations
Corporate reorganization is sometimes necessary for organizations or corporations. Reasons typically involve the following:
- Company viability
- Company profitability
- Change of ownership
- Bankruptcy
- Employment and consulting agreements
- Buyout
How Can an Attorney Help with a Restructure?
Restructuring theoretically results in a better organized, more effective, and more profitable organization. To make that theory a reality, you need to know your new structure is legally sound.
Taylor Law Offices should be contacted immediately to give your company accurate and informative advice on the legal impacts, if any, your corporate reorganization may have. Taking the time to find an experienced and
A knowledgeable attorney now can save you time and money in the future — not to mention boost your efficiency.
Restructuring While Maintaining Business Operations
Even the most successful companies can require a restructuring or reorganization at times. Our legal team has experience skillfully managing restructuring and reorganization without damaging the business operations that are currently taking place.
Taylor Law Offices has not only helped companies make it through difficult times while minimizing the damage done — we’ve also assisted many businesses through reorganization that came out stronger and more efficient.
Business, Corporate and Partnership Disputes
Maintaining healthy communication and relationships within a business or corporate endeavor could not be more important to the success of a company. Unfortunately, disputes often arise, either externally or internally. Left unresolved, these matters can lead to the financial demise of an entity.
Since business relationships are of such importance, gaining the assistance of Taylor Law can be critical to your company’s success. Your attorney can alleviate a great deal of the stress involved in facilitating an end to conflicts and disagreements between the following entities:
- Businesses. If you have a business-to-business (B2B) relationship with a mom-and-pop shop or any larger company, disagreements and misunderstandings can happen.
- Corporations. LLC, INC., whatever the case is, a corporation is at-the-ready to lawyer up and make things costly for you.
- Partnerships. No matter how much you see eye-to-eye with your business partner, staying on the same page 100% of the time is difficult.
How to Avoid Litigation
Corporate and business disputes can drain your time, energy, and resources. No matter how complex a disagreement seems, your legal team can pursue the best course of action toward resolution.
Many matters that seem virtually impossible to resolve outside of the courtroom can actually be settled through mediation or other methods of alternative dispute resolution (ADR). This saves your company time and money.
When Litigation is Necessary
While amicable ends to disputes are always preferred, your attorney can also fight tenaciously for your interests at trial when necessary. Whatever your specific needs merit, procuring the counsel of a skilled law firm can allow you to focus on what is most important to you — running a successful business.
Change of Ownership
When buying or selling a business, it is vital to cover key points in writing. This includes the price and timing of payment, of course. It also means specifying the physical assets that go with the transfer, including:
- Files
- Furniture
- Customer lists
- Computer programs
- Patents
If the seller intends to keep certain customers or open up a competing business, this must be discussed. An agreement not to compete (non-compete agreement) may be required. The parties may agree on a mediator or arbitrator to resolve issues that arise after the change in ownership is implemented.
Corporate Structure Change
The corporate structure of your business can have important consequences for protection from creditors and the amount of taxes owed. We will advise you on the advantages and disadvantages of:
- Sole proprietorships
- Partnerships
- Limited liability company structures
- Corporations
We counsel on how to use these tools to provide for proper business succession at the death of a partner. We professionally assist with the drafting of all documents, so your intentions are carried out properly as your organization is restructured.
Frequently Asked Questions
1. Do I need a business attorney, or can I settle this dispute on my own?
If a matter is already in litigation, talk to an attorney right away. Even if litigation is only likely, there are steps you can — and should — take early to protect your business.
Knowing about a dispute that could lead to litigation can create legal obligations. For example, you may be required to preserve certain records to avoid extra liability.
Getting an attorney’s advice early also helps in another way. It gives you a clear picture of your legal rights and a cost-benefit analysis of your options — settlement, litigation, or other dispute resolution methods.
Litigation often results from mismanaging a dispute. Many disputes could have been resolved informally, with less time and expense, given the right legal guidance from the start. Business owners who try to “do it themselves” to save money often end up spending more on attorney’s fees later — after the issue has grown or gotten more complicated.
2. Can I sue for breach of a verbal contract?
Generally, yes — verbal contracts are enforceable, with some exceptions. They can be harder to prove than written contracts. That’s not because they carry less legal weight; it’s because the evidence of their existence is less certain.
An Idaho business litigation attorney can review a potential dispute over an oral contract and advise you on enforceability, defenses, and possible litigation strategies.
3. How do I form a corporation?
The basic steps are:
- Choose your state of incorporation
- File electronic articles of incorporation with the appropriate secretary of state
- Obtain an EIN from the IRS and file any appropriate tax election
- Create bylaws
- Hold an initial meeting of the founders/incorporators to adopt the bylaws and approve pre-incorporation actions
- Elect the board and appoint officers
- Distribute shares and allocate responsibilities
- Create and open bank accounts
- Obtain and recognize ownership contributions
- Create and execute a shareholder agreement and other appropriate documents (NDAs, non-competes, IP assignments, employment agreements, etc.)
- Begin operations
4. Why are so many businesses incorporated in Idaho?
Idaho offers a corporate tax, filing, administrative, and legal system that many find appealing compared to other states. Idaho also limits public disclosure of owners and related parties on its public filings.
Idaho’s statutes and case law are robust, giving businesses a lot of guidance and predictability on internal corporate legal issues. Idaho also has several tax provisions that may favor certain types of companies. Where to incorporate is ultimately a case-by-case decision.
5. What are the benefits of buying an existing business?
There are several. First, buying an established business saves you significant time — you skip the startup process entirely. The business will also have already gathered key information: how it operates, how to improve, and what mistakes to avoid. Since time is one of a business’s most valuable assets, buying an existing one can save you a lot of it.