Whether you are starting a business or have an established company, Ritter & Randolph can assist you in all aspects of your business such as helping you in choosing and formation of the right business entity to help minimize your personal and tax liability, draft and revise employee handbooks, prepare and review contracts, executive agreements, severance agreements, non-compete agreements, mergers, acquisitions and dissolutions. We give advice with ongoing business and financial issues, sales and purchases, and commercial real estate transactions.
Business / Corporate Law
Business / Corporate Law – Questions/Answers
- 1: What are advantages of an LLC?
An LLC or Limited Liability Company can offer its members tremendous advantages over traditional business models. As its name suggests, an LLC provides its members with limited liability, which means that the individual members are typically not responsible for the liabilities of the company. Often legal counsel will be engaged to assist in creating an LLC and drafting important documents to help guide your business to success.
- 2: What is a non-compete agreement?
A non-compete agreement can be a valuable tool for protecting your company’s important trade secrets and proprietary information. These types of agreements are often difficult to enforce in court, which makes obtaining expert legal counsel absolutely critical. Non-compete agreements can also help protect your company from damage against disgruntled former employees who might take advantage of their former relationship with your company.
- 3: I need another person around the office — should I hire a new employee or an independent contractor?
Businesses across the country continue to debate whether they should hire new employees or independent contractors when they seek to expand their operations. Each of these options will uniquely impact a company’s tax arrangements and other important financial considerations. Additionally, whether you hire a new employee or independent contractor, it can impact the potential liability your company might face in the event of a lawsuit. Speak to an attorney to learn more about the advantages and disadvantages of each type of arrangement.