Articles Tagged with Texas Business Attorney

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AdobeStock_533470666-300x200Chapter 134A of the Texas Civil Practices and Remedies Code is known as the Texas Uniform Trade Secrets Act, and Texas Civil Practices and Remedies Code § 134A.002(6) establishes that a trade secret is defined as “all forms and types of information, including business, technical, scientific, economic, or engineering information as well as any design, formula, pattern, prototype, compilation, plan, program, code, program device, device, technique, method, process, procedure, financial data, or list of actual or potential customers or suppliers, whether it is tangible or intangible and whether or how compiled, stored, or memorialized physically, electronically, graphically, photographically, or in writing when an owner of a trade secret takes reasonable measures under the circumstances to keep the information secret, and the information derives actual or potential independent economic value from not being generally known to and not being readily ascertainable through proper means by another person who can obtain economic value from the disclosure or use of such information.” Trade secrets are valuable because there are considerable efforts to protect the information, and people will need to work with a Texas business attorney for help protecting their trade secrets.

A legal cause of action for exposed trade secret information is known as misappropriation of trade secrets. This occurs if a trade secret is improperly acquired or is otherwise disclosed or used without consent.

Reasonable Measures to Maintain Trade Secrets

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AdobeStock_321021088-300x200When a business in Texas is either establishing its first location is looking to upgrade to a bigger space, a commercial lease is often something requiring a business owner’s signature and can be tricky to navigate. You should work with a Texas business attorney to be sure that you are getting the best offer for all of your immediate and long-term needs.

It is important for business owners to understand that commercial tenants often do not have the same rights as residential tenants. For this reason, legal representation is highly advisable because many commercial leases will be seeking long-term arrangements that can involve significant cost concerns.

Common Commercial Lease Questions to Ask

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AdobeStock_554619254-300x200Numerous businesses all over Texas are for sale every day, and people need to understand market dynamics and other concerns whenever they are considering buying or selling any business in the state. If you are currently trying to buy or sell a business in Texas, be sure that you have a Texas business attorney assisting you with all of the legal requirements that will be involved.

Buying an existing business can seem like a safer career path than beginning their own company, and people who are ready to move on can become willing to sell their businesses when they believe the time is right. It is important to begin by knowing whether you will be involved in an asset sale or an entity sale, with the former involving some or all of a business rather than an entire business itself and the latter being an entire business entity outright.

Buying a Business in Texas

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AdobeStock_180825526-300x184One of the first steps to starting your business is forming the business entity.  For a variety of reasons, a limited liability company (LLC) can be an attractive option. There are several benefits to creating an LLC, and an Texas LLC lawyer can help you take all of the necessary steps to help you take advantage of them.

If you are starting a business, one of the biggest advantages to an LLC is that it can limit your personal liability for debts the business incurs, meaning that your home and personal bank account cannot be used to pay business debts or any liabilities if you or a business partner are sued. Additionally, you may deal with less paperwork once the LLC is up and running, there may be certain tax advantages, and you have flexibility to make the LLC operate how you want it to when it comes to ownership, management, and how profits are shared and distributed amongst the owners.

Steps to Starting an LLC

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AdobeStock_232564567-300x200Many small business owners in Texas need to account for the future of the ownership and continuity of their business, and a buy-sell agreement will often accomplish these goals. When you need help crafting a buy-sell agreement, make sure you are working with a skilled Texas business attorney.

Texas Buy-sell agreements can come into play for both unforeseen and foreseen events among owners, including a business partner dying, becoming disabled, getting divorced, or declaring bankruptcy. Other complications can include a business partner changing their vision for the company, losing interest in the business, needing a cash infusion, or acting in bad faith.

Necessary Elements of a Buy-Sell Agreement

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