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By: The Kumar Law Firm PLLC

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The Kumar Law Firm PLLC

Latest from Austin TX Business Law Blog

Are you considering buying into a franchise? It can be a great way to enter the business world while avoiding so many of the headaches start-up founders face. There is often built-in structure and name recognition when it comes to a franchise. There are also training opportunities and operational guidance built into the purchase. Before you sign on the dotted line, however, be sure you are signing an agreement that has everything that should be in a franchise agreement. Wondering what should be included in a franchise agreement? We will talk more about that here. What Should Be Included…
During the Covid-19 pandemic, there were several programs available through the Small Business Administration to help businesses that were struggling. One such program was the Paycheck Protection Program (PPP). Now, some of those loans may be coming due and you may be wondering whether you can apply for PPP loan forgiveness and how you can do so. One of the main attractions of the PPP loan is, after all, that it may be forgiven in full. Once forgiven, the loan becomes a kind of grant as opposed to a loan that needs to be repaid. How Do You Apply for…
A buy-sell agreement is sometimes more aptly referred to as a buyout agreement. These agreements are binding legal contracts between business co-owners that dictate when owners can sell their interest in the business as well as who is permitted to buy an owner’s business interest and the price for that particular share of the business interest. These agreements are entered into by the owners of a business in order to establish some boundaries for what will happen to an owner’s share of the business upon the happening of a specified event, such as the death or disability of an owner.…
Before you start your own business, it can be critical to get your ducks in a row, so to speak. While entrepreneurs set out to navigate the exciting start of a new venture, guidance is key. Meet with a business lawyer and discuss your business details. You may feel overwhelmed with trying to secure financing, developing marketing plans, and so much more. Meeting with a business lawyer may feel like just one more thing to put on your ever-growing to-do list. It can, however, bring you a lot of peace of mind as well as help you focus on…
The State of Texas will generally frown upon contracts and other business arrangements that restrict employees from changing jobs as they see fit. Free enterprise is big in Texas and the state approaches any potential restrictions on trade or commerce with great trepidation. In fact, the Texas Free Enterprise and Antitrust Act of 1983 deems unlawful any contract or agreement that restrains trade or commerce, with certain exceptions being made. The exceptions allow for a balance between free trade and businesses still being allowed to take steps to protect their interests. With this being said, are non-compete agreements in Texas…
Buying a business can mark the start of an exciting entrepreneurial adventure. It can also mark the start of a disaster waiting to happen if you do not do your due diligence in fully investigating the business you are purchasing. Without putting the work in and reviewing the business details closely, you risk falling into a money pit that may be more stress than it is worth. Here, we will discuss how to protect yourself and your business venture by conducting due diligence prior to buying a business. How to Conduct Due Diligence Before Buying a Business Due diligence is,…
It seems that more and more websites are touting the ease and cost savings of DIY legal resources. Proclamations of setting up your own business without the legal feels fill the internet. Avoiding the need to retain an attorney and do things on your own are pushed toward the masses. This is an important reminder to tread with caution when approaching websites that offer an easier, cheaper way to set up your business on your own. Trying to avoid the perceived complication of retaining an attorney can create a host of other complications that can jeopardize your business right from…
Have you come up with a great business startup idea? It can spark excitement like a few other things. The idea, however, is just the beginning. There are many steps to take before you can make it a reality. While dealing with financials is likely not as exciting as coming up with your great business idea, it is essential to building a successful business. Know what you are getting into before you start. Planning and execution of a financial plan for your startup can be crucial to its success. To do so, you will need to know what your projected…
Having a great idea for a business is just the beginning. Actually setting up a business for success and working through all of the formalities required to get a business up and running can be an arduous process. It is, however, an important one. How you set up your business will have significant impacts on how it is run, your personal liability, and your tax liability. One of the biggest decisions you will need to make is what type of business structure to establish. Have you ever heard of a co-op business structure? Read more to see if it might…
A stakeholder is considered to be any person who has an interest in a company. This means that the term “stakeholder” is actually quite general. Think about who could have an interest in a company. An employee, a supplier, a partner, and others could be considered stakeholders. Furthermore, a stakeholder could be an investor in a company. These are all people or organizations which have a stake in the company being successful. What exactly is, however, the role of a stakeholder in a company? We will discuss more on this here. What Role Do Stakeholders Play in a Company? The…