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Areas
of Legal Practice
Personal
Injury Law
Auto
Wrecks
Truck
Wrecks
Railroad
Wrecks
Wrongful
Death
Civil
Litigation
Business
Consumer
Divorce
and Family Law
Child
Custody, Visitation and
Support
Protective
Orders, Injunctions
Paternity,
Termination of Rights
Martial
Agreements
CPS
Cases
Business
Law
Contracts
Business
Agreements
Incorporation
Criminal
Law
Adult
and Juvenile
Probate
Law
Wills
Guardianships
Estate
Documents
Real
Estate Law
Immigration
Law
Mediations
Family
and Civil
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What
is a Sole Proprietorship
There are several
types of ways to do
business in Texas, and
one of them, is as a
sole proprietorship. A
sole proprietorship is a
single owner business
and the simplest form of
a business entity. Among
the advantages/benefits
of a sole proprietorship
are: Exclusive control:
you retain sole control
over the management and
development of your
business. Cheap and easy
to form and maintain:
almost no formalities
are required to create a
sole proprietorship
(unless certain licenses
are necessary for that
type of business or to
file a D/B/A (Doing
Business As)) and the
administrative costs are
minimal. Some of the
disadvantages of a sole
proprietorship include:
Personal liability: your
business is not a
separate legal entity
and all business debts
and liabilities are your
personal obligations.
You are personally
responsible for the
business's contracts,
taxes, and the
misconduct of employees
or a co-owner who create
legal liabilities while
acting within their
employment. Although
personal liability is a
risk for sole
proprietors, several
things should be kept in
mind. First, one can
obtain insurance to
minimize the effects of
personal exposure for
some of these
liabilities. In
addition, personal
liability for business
contracts is common and
normal in any form of
small business. To
minimize the risks
associated with small
businesses, customers,
landlords, suppliers,
and others will often
require that the owner
assume personal
responsibility (sign a
personal guarantee) for
the business's contract,
regardless of the form
of your business
organization.
It has always been
the dream of a lot of
Americans to form a
business. But I would
highly recommend, that
before one starts a
business, one should
consult with an attorney
to determine whether a
sole proprietorship or
another form of business
entity would be better
suited for your new
business.
This firm
operates with a
tradition of integrity,
common sense, technical
expertise and with a
principle that
"Justice for
All" applies to
everyone. Further, the
firm works for timely
resolution of difficult
family matters with a
minimal level of
confrontation, specially
when children are
involved.
With
the "client's
interests at
heart," the firm
handles divorce and
property cases, child
custody and support,
visitation, adoption,
wills, criminal,
personal injury,
business and other legal
matters. Through
effective use of
state-of-the-art
technology, Weismuller
Law Firm handles complex
cases requiring
extensive research and
analysis. |
