Towson, Maryland Corporate Law Attorneys

Lawyers for Business Mergers, Financing, Contracts, and Other Legal Concerns in Towson

Whether a business is a solo professional practice or a large corporation with dozens of employees, operating the business will involve a variety of legal obligations, risks, and potential issues that may need to be addressed. The decisions made during business formation will determine how a business may be taxed, how liability will be allocated among owners, how management decisions will be made, and how disputes may be resolved. When a business grows, changes hands, or closes, the proper legal steps will need to be taken to protect the interests of its owner, partners, and other stakeholders.

Failing to address legal issues correctly can create costly problems for a business. At Fox & Moghul, our attorneys provide legal services for companies in Towson, working alongside business owners throughout every stage of the business lifecycle. We take the time to understand each client's goals, and we work with them to develop strategies for success while addressing any legal concerns that may arise while doing business.

Choosing the Right Business Structure

The legal structure of a business is the foundation on which everything else is built. Decisions made during business formation will determine who owns the business, how it will be taxed at the federal and state levels, the personal liability that may apply to the owner, partners, or shareholders, and how ownership can be transferred. Choosing the wrong structure can lead to significant legal and financial problems down the road.

Sole Proprietorships and Partnerships

A sole proprietorship will not require a business owner to formally register their business, but it will also provide no protection against liability. A general partnership is a similar structure that will allow multiple people to co-own a business, but it may not provide the partners with protection against business liability. Limited partnerships and limited liability partnerships may offer more liability protection for some or all partners, but they will require formal registration and ongoing compliance requirements.

Limited Liability Companies

The limited liability company is a flexible business structure that provides members with personal liability protection. A well-drafted LLC operating agreement can serve as the cornerstone of an LLC, addressing ownership percentages, profit and loss allocations, management authority, and procedures for admitting new members or handling the departure of members.

Corporations

A corporation provides strong liability protection for its shareholders. It is often the preferred structure for businesses that are looking to raise capital through outside investments. Corporations are subject to formal governance requirements. Our attorneys can help clients determine whether a corporation, LLC, or other structure is the best fit for their specific situation. We can also work with clients to draft organizational documents and make sure a business will have a solid legal footing.

Mergers and Acquisitions

When two businesses combine their operations through a merger or acquisition, the stakeholders involved will need to address legal concerns correctly while making sure the business will be able to operate successfully. When mergers are handled correctly, they can create significant value for stakeholders, but if the proper procedures are not followed, issues such as undisclosed liabilities, integration failures, and legal disputes may result in losses or prevent a business from achieving its goals.

Our lawyers can guide businesses through each phase of M&A transactions, making sure they meet their legal requirements and address the practical concerns involved in combining two organizations. We can conduct due diligence, making sure clients understand the legal, financial, and operational issues that will be involved in a merger. We can make sure a transaction is structured correctly, and we can assist with strategies for integration.

Protecting Intellectual Property

For many businesses, intellectual property will serve as valuable assets, but if the proper steps are not taken to protect these assets, they may be misappropriated by other parties. Our attorneys help businesses identify, register, and defend their intellectual property rights, addressing issues related to:

Trademarks

A trademark is a word, phrase, logo, symbol, or other identifier that distinguishes a business's goods or services from those of others in the marketplace. Before filing a trademark application, a thorough search should be conducted to identify existing trademarks and prevent potential infringement claims. Our lawyers can help to prepare and file trademark applications and enforce trademark rights.

Copyrights

Copyright protections are established automatically when original works are created. These works may include written content, software code, website designs, photographs, and marketing materials. Businesses that create original content will need to maintain clear documentation of authorship and ownership. Our attorneys can assist with copyright registration, contracts that address work for hire, and copyright infringement claims.

Trade Secrets

Certain information or procedures used by a business, such as customer lists, proprietary processes, or formulas, may qualify for protection as trade secrets. Our lawyers can help businesses understand what steps can be taken to protect trade secrets and maintain confidentiality and security.

Non-Compete and Non-Disclosure Agreements

Businesses will make significant investments in training employees, developing client relationships, and protecting trade secrets. Non-compete and non-disclosure agreements are important tools that can be used to protect those investments.

A non-disclosure agreement or confidentiality agreement will require a party to keep specified information confidential. NDAs are commonly used when businesses share proprietary information with partners, vendors, or employees. A well-drafted NDA will clearly define what information is covered, the permitted uses of confidential information, and the remedies available when confidential information is disclosed without authorization.

Non-compete agreements will place restrictions on an employee or another party, preventing them from competing with a business. These restrictions will generally be limited to specific geographic areas where a business operates, and they can only place restrictions on a person for a reasonable period of time. Our attorneys can help businesses create non-compete agreements that will protect their business interests while ensuring that their terms are legally enforceable.

Business Buyouts

When a business partner or co-owner plans to exit the company, the remaining owners, partners, or shareholders will need to complete a buyout of the exiting partner's share of the company. Buyouts must be structured correctly to ensure that they protect the rights of all parties involved. Key issues to address in a business buyout will include the valuation of the departing owner's interest, the terms of payments to the departing owner, the allocation of any ongoing liability, and non-compete or non-solicitation agreements. Our lawyers can represent departing owners and continuing owners, helping to structure buyout transactions that are fair and legally sound.

Business Dissolution

A business may need to be closed because the owners are retiring, the business has become insolvent, or partners have decided to end their legal relationship. The proper procedures will need to be followed during a business dissolution to avoid potential legal liability.

The process of winding up a business may involve collecting receivables, paying or settling debts, distributing the remaining assets to the partners, closing business accounts, and terminating contracts and leases. Failing to properly dissolve a business entity can result in tax issues, personal liability for business debts, and disputes related to the distribution of business assets. Our attorneys can guide business owners through the dissolution process, making sure they meet all of their legal obligations while avoiding potential problems.

Contact Our Towson, MD Business Lawyers

The team at Fox & Moghul provides dedicated legal services for business owners and companies. We can help clients understand their rights and obligations while working closely with them to build successful business strategies and resolve legal issues. Contact our Towson business law attorneys at 301-409-5316 to learn how we can help you navigate the legal challenges and opportunities that come with building and running a business.