The Business and Corporate Law Group at Batson & Nolan PLC can handle all your business’s legal needs. Our Dover business lawyers have experience with a broad range of business matters for companies at every stage of development.
The business law attorneys at Batson & Nolan can help you get your business started on the right foot by guiding you through your company’s legal formation. We know the advantages and disadvantages of every legal business entity in Tennessee.
While your company is a going concern, Batson & Nolan has you covered. We have years of experience negotiating business contracts, from purchase and sale agreements to employment contracts. Our Dover corporate lawyers can also help guide you through HR best practices. If your business is involved in litigation, the lawyers at Batson & Nolan will zealously advocate for you.
When you are ready to move on, Batson & Nolan can help ensure the sale of your business goes smoothly. With our Dover corporate attorneys guiding you through the deal, you can rest easy knowing your interests are protected.
Contract Law
Expertly crafting your business’s contractual agreements is essential to running a successful company. Poorly written contracts can and will come around to hurt your company. At Batson & Nolan, we know that the best contracts accurately reflect the wants and needs of all parties involved. Standard contractual agreements that our Dover business attorneys handle include:
- Employment contracts,
- Indemnity clauses,
- Lease agreements,
- Non-disclosure agreements,
- Non-compete clauses,
- Purchase and sale contracts,
- General contractor and sub-contractor agreements,
- Franchise contracts,
- Partnership agreements, and
- Merger and acquisition contracts.
Our commercial litigation attorneys also know how to protect your company when an agreement fails to accomplish its goals. Whether there is a disagreement about a clause in a contract or another party fails to meet their obligations, we know how to move forward. Our experienced lawyers will explain every option and formulate an effective strategy to hold the other party to the terms of the deal.
Business Litigation Matters
Litigation is something most businesses want to avoid whenever possible. Under the wrong circumstances, litigation can drag on for extended periods. It can also carry high costs, both direct and indirect.
The Dover business attorneys at Batson & Nolan can help you avoid litigation in the first place. We know common pitfalls to look out for and the different ways a company can be dragged into litigation. Simple steps like implementing solid HR practices and using clear contract language can go a long way toward avoiding expensive litigation.
Sometimes litigation is impossible to avoid. When an unexpected need for litigation arises, the stakes for your company can be high. Luckily, Batson & Nolan has experience in these matters too. Common litigation matters that businesses must deal with include:
- Personal injury litigation,
- Malpractice claims,
- Employment disputes,
- Workers’ compensation lawsuits,
- Harassment and discrimination claims,
- Wage disputes,
- Wrongful termination claims,
- Real estate issues,
- Breach of contract cases, and
- Regulatory compliance issues.
If your business must litigate, the experienced corporate law attorneys at Batson & Nolan will effectively advocate for your company.
Business Formation
Choosing which business entity is right for your business can significantly impact your company’s long-term and day-to-day operations. Each of the business forms available to Tennessee companies has advantages and disadvantages. Choosing the right one is a critical element of success. Generally, there are four business entities to choose from—sole proprietorships, partnerships, corporations, and limited liability companies (LLCs).
Sole Proprietorships
Sole proprietorships are the most straightforward business entity to form. No agreements or filings are necessary to operate a sole proprietorship unless you conduct business within an industry where licenses or permits are required. The owner of a sole proprietorship is liable for all the debts and obligations of the company, including liability from lawsuits. Profits and losses from sole proprietorships are reported as the owner’s income.
Partnerships
Partnerships are appropriate when multiple people wish to form a business together. There are three types of partnerships—general, limited, and limited liability.
General partnerships are the most basic form of partnership. Without a prior agreement, every partner is liable for the obligations of the general partnership and has equal rights in the company’s management.
Limited partnerships have general and limited partners. General partners face liability for the obligations of the business and run the day-to-day operations. Limited partners are liable only for the value of their investment and play a limited role in the company’s operation.
Limited liability partnerships are the most popular form of partnership. No partner is liable for the obligations of another, and the partnership agreement dictates the day-to-day running of the business.
Corporations
Corporations are an entity with rights and responsibilities distinct from their owners. Corporations also can issue stock. The three corporate forms in Tennessee are C-corps, S-corps, and not-for-profit corporations.
C-corps can issue general and preferred stock. The profits of C-corps are taxed at both the corporate and shareholder levels. C-corps can have an unlimited number of owners.
S-corps can have up to 100 owners and pay taxes only at the shareholder level.
Not-for-profit corporations must follow all the rules and regulations under section 501(c)(3) of the Internal Revenue Code. For this reason, not-for-profit corporations are suited only for specific business purposes.
Limited Liability Companies
LLCs are one of the most common business forms available. They combine many positive aspects of partnerships and corporations while providing added flexibility. The owners of LLCs face limited liability. LLCs can also choose whether they are single-taxed or double-taxed.
FAQs
Which Business Entity Should I Choose?
The business entity you choose will depend on the type of business you want to operate, the number of owners involved, and state and federal law. The experienced business attorneys at Batson & Nolan can help you understand the pros and cons of each option so you can choose the entity best suited for your company.
Do I Need a Lawyer?
In Tennessee, it is possible to form your business without a lawyer. However, a lawyer will be able to help you understand how your choice will affect your business and ultimately help you make an optimal decision. For over 160 years, Tennessee businesses have trusted the skilled and passionate attorneys at Batson & Nolan to help keep them on the right track. Contact us today so we can help you set your business up for success and guide you through all the legal aspects of running a prosperous business.
The experienced lawyers at our firm handle other types of cases as well, including:
