Small Business Formation and Representation FAQs
- Why might I need a business law attorney?
- How can Haggerty, Haggerty and Maschmeyer help me with business entity decisions?
- How can Haggerty, Haggerty and Maschmeyer assist me with contract preparation?
- How can Haggerty Haggerty & Maschmeyer help when my customers do not pay for products sold or services rendered to them by me?
- How do I schedule an appointment?
Why might I need a business law attorney?
Most businesses lose money in the first few months or years, so it is important to choose a business entity which allows the owners to deduct any losses on their personal tax returns. Because many businesses fail and because most businesses are targets for lawsuits, it is important to choose a business entity that limits personal liability in the event that liability insurance is insufficient to cover a claim. Not only must the right entity be chosen, but its business records must appropriately be kept to ensure full protection of the law. Finally, it takes both experience and expertise to properly craft agreements between partners, as well as between businesses and its customers.
How can Haggerty, Haggerty and Maschmeyer help me with business law issues?
The choice of business entity is an important decision, which should involve input from your attorney and your CPA. While the CPA's choice of entity focuses primarily on tax implications, the attorney's focus is on limiting liability.
Business entities can take any of the following forms: a sole proprietorship, general partnership, limited liability company, limited partnership, not-for-profit, professional corporation, sub-chapter S corporation, or sub-chapter C corporation. We can assist you in understanding the differences between these business forms, and help you choose the business entity best suited for your needs.
In addition to choice of entity, buy - sell agreements should be discussed with your attorney. These agreements can deal with the following:
- Limiting the sale of an owner's interest to an outsider
- The price a surviving owner must pay to a deceased owner's estate for his interest upon his death
- Funding of such a purchase and what happens in the event an owner becomes disabled and can no longer do his share of the work.
How can Haggerty, Haggerty and Maschmeyer assist me with contract preparation?
We offer small businesses assistance in negotiation and preparation of contracts, collection of receivables, filing of mechanic leans, real estate matters and assistance in observance of appropriate business formalities. William A. Maschmeyer's experience in the collections division of the Indiana Attorney General's office is of particular benefit to our clients in this area of law.
Because we are a full-service firm, we can assist small business owners and their employees in ancillary matters such as criminal law, driving license issues, divorce, personal injury and estate planning. In fact, estate planning for small business owners is increasingly becoming as important as the operation of the business itself. Whether you want to pass your business to your children or plan for sale of the business to another co-owner or to a third-party, we can help.
How can Haggerty Haggerty & Maschmeyer help when my customers do not pay for products sold or services rendered to them by me?
We assist small businesses in securing payment upfront through security agreements, financing statements, mortgages and personal guarantees. We assist business in the filing of mechanics liens. We are prepared to foreclose mechanics liens and mortgages and replevin personal property. We handle evictions. We collect unpaid bills through civil judgments and proceedings supplemental to judgment through bank garnishments, wage garnishments and civil attachments. It is a reality of business that some customers will not pay voluntarily. We will keep your losses to a minimum. While some cases must be handled on an hourly basis, many collection cases can be handled on a contingency fee arrangement. Please contact us to discuss the details of your situation. The advantage of using the same attorney to handle business organization and operation as well as collection past due accounts is that many times we can modify your contract documents to better protect you in the future.
How do I schedule an appointment?
Please contact our law officeat 317-786-2225 to schedule an appointment and learn how we can help you make your business endeavor a successful one. Our staff is more than happy to provide driving directions. We look forward to serving you.