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Should you get an Operating Agreement?


What is an Operating Agreement?  An Operating Agreement is the contract between the owners of a Limited Liability Company that controls how the company conducts business.

Do you REALLY need an Operating Agreement?   Yes you do!

In a limited liability company (LLC), the members of the LLC are the owners of the business.  If you have more than one member or owner, you absolutely need to have an Operating Agreement for your business.   No matter what size your business may be or how many members it may have, everyone, including the business is best served by having an Operating Agreement for the company.

An Operating Agreement sets out how the members would like to treat their ownership interest in the event of certain occurrences to the company or the members themselves.  These occurrences may include disability, divorce, death, the sale of the company, or the dissolution of the company.  An experienced Atlanta lawyer can draft an operating agreement that will help the business owners to develop a plan to handle circumstances as these and many more.

An operating agreement may contain a wide variety of provisions that set out the management of the company and the specific situations that require agreement of the owners.  The operating agreement can set out each manager’s and member’s rights and responsibilities to the company as well as to each other.

One of the most important goals of an operating agreement is to set out a system to resolve disputes and problems as they arise in the company.  The avoidance of deadlock through a system of dispute resolution set out in the operating agreement can help a company get through difficult times in the business.

The Collins Firm can provide an Atlanta, Georgia based attorney who will work with business owners to determine the best structure and provisions that will meet the needs of the company and the owners.

Atlanta business law attorney Matthew P. Collins, Esq., has almost 20 years of experience assisting businesses ranging from large, well-established companies to small start-up operations.  Mr. Collins has the skill, experience and knowledge to help you move your business grow and succeed.  For a complimentary consultation, call The Collins Firm at 404-214-6070 or email us today.

Atlanta Trademark Attorney Ready to Serve…

Two of the biggest mistakes that a start-up or small business makes are failing to protect its name and/or logo and failing to research whether its name or logo infringes a trademark belonging to someone else.

The first mistake, the failure to protect your name and logo can damage the business’s brand equity.  Any business can benefit from having their corporate logo and name trademarked through the US Patent and Trademark Office.

Of course, failing to research whether a business name or logo is already in use could lead to a lawsuit.  Legal action can be costly and time consuming yet can be easily through good legal counsel. An experienced lawyer can help your business research your company name and logo and file a trademark application on your behalf.

Fortunately, business owners can avoid both of these mistakes with the assistance of an Atlanta, Georgia based trademark.  The cost to retain an experienced trademark attorney is modest, yet the benefits and protections can be substantial.

An Atlanta, Georgia trademark attorney from The Collins Firm can help business owners protect their intellectual property, corporate name, and logo through filing the appropriate trademark application with the United States Patent and Trademark Office (USPTO).

Atlanta business law attorney Matthew P. Collins, has almost twenty years of experience assisting businesses ranging from large, well-established companies to small start-up operations.  Mr. Collins has the expertise and knowledge to help you grow your business through the provision of a wide variety of legal services ideal for business operating in Georgia.  For a free consultation, call us today at 404-214-6070 or email us now.

Asset Purchase/Stock Purchase Agreements

When a business seeks to buy the shares or assets of another business, both sides need an experienced business law attorney.  Both businesses benefit from skilled legal representation so whether you want to buy a business or sell a business, keep reading this article.

Why should you hire a good Atlanta business law attorney to help you get a good agreement?  A thorough and detailed contract is essential to give both sides the benefit of the transaction. Every business sale or purchase should lead to a solid benefit for both parties involved.  The absence of a mutual benefit is a sure ticket to expensive and time consuming litigation.  The Collins Firm can provide knowledgeable and effective business law representation to help you get the benefit of your contract.

Stock Purchase Versus Asset Purchase Agreements

Which should you choose?  Stock purchase or asset purchase?  The answer varies and changes with every situation.  This decision by itself is reason enough to call The Collins Firm to help you with your business agreement.

Part of the decision rests on the question of whether or not all of the business assets are being sold or just some of the business assets.  Another consideration is whether any debts or liabilities are also part of the deal.  These are just two considerations that can help you decide which type of deal to make.

Protecting Your Interests in Business Deals

Regardless of whether you are buying or selling, you need an experienced attorney to help protect your interests in the business deal.  When a business or corporation sells stock or acquires assets, they may also acquire debts or liabilities.  The proper handling of debts and liabilities is critical to the success of the business deal.

Whether you are a business buyer or a seller, The Collins Firm can help you be sure that your best interests are protected from beginning to end of the transaction. The Collins Firm is skilled at helping in asset acquisitions, stock sales, and can help you regardless of which side your company is participating.  We will review and prepare contracts for you and can help provide you the due diligence necessary to make the most of any deal. .

Business agreements include:

  • Asset Sales Agreements
  • Stock Sales Agreements
  • Stockholder/shareholder agreements
  • Partnership interests
  • Real estate leases and purchases
  • Business property/equipment

We can also assist with drafting any offers, letters of intent or purchase agreements. In addition to representing you, your business or corporation during the transaction, we are skilled business negotiators who can render vital assistance in drafting and structuring your asset purchase agreement.

Contact Us for Georgia Business Acquisition Lawyers

Call or email the Atlanta, Georgia based The Collins Firm, to talk about your business needs.  The Collins Firm has extensive experience in representing businesses and corporations in asset purchase agreement transactions as well as stock purchase and sales agreements. We represent corporate and business clients in the Atlanta metro area, as well as across the state of Georgia and throughout the world.

Contact The Collins Firm today!

Thinking about Selling your business?

Selling a Business

Before the time comes for a business owner to sell a business, consider talking to an Atlanta business selling attorney to prepare your business for sale.  Not only should you consult an Atlanta business selling attorney to help you prepare your business for sale, but to assist in every stage of the business sales process.

A good business selling attorney can help you and your business through the following steps:

  • Negotiation strategy and preparation;
  • Letter of intent;
  • Nondisclosure Agreement;
  • Business Sales Contract;
  • Promissory Note.

Selling your business requires careful planning and preparation in order to maximize the value of your business and to get the absolute most money selling the business.  A well-organized business with all of its legal and financial records in order will be more attractive to a purchaser and will command a higher price in the sales market place.  An Atlanta business selling attorney can help you get your business ready to sell and ensure that the final deal is one that helps you reach your goals.

When a business owner chooses the assistance of The Collins Firm in the sale of his or her business, Mr. Collins, who is an Atlanta contract attorney will work with you to negotiate the best possible deal and create an agreement that will get you the most money possible for your business.

The Collins Firm has many years of experience as an Atlanta business law attorney assisting businesses ranging from large, well-established companies to small start-up operations.  Mr. Collins has the expertise and knowledge to help you move your business forward.  For a complimentary consultation with an Atlanta business lawyer, contact The Collins Firm at 404-214-6070.

 

 

Quality Forms and Contracts Help You Succeed!

What kind of order forms do you have in place or will you need for your business?  This seems to be an obvious question to most small business owners, but is it really?   The purpose of this article is to help you identify potential forms and legal documents that you’ll need to protect and operate your business; all services are available through The Collins Firm.

Whether you offer a product or service plays a major part in the form choice and the type of documents you need. Here are just a few considerations you should keep in mind when thinking about your order forms and other legal documents you’ll need to safely and securely operate your business:

1.  Product Orders – If you sell tangible products and it’s a one-time sale, then you will need a sales order form that includes information such as quantity, product description, payment terms, return restrictions, warranty and much more.  You need quality legal help to build and design an agreement for any product and meeting the needs of your business with an emphasis on compact but effective order forms.

2.  Service Agreements – If you sell a service or intangible product, then you will need a service agreement spelling out information such as term, service descriptions, warranty, delivery method of the service, payment options and much more.  A service agreement tends to be much more extensive than a compact product order form so plan to spend more time mapping out the processes that need to be covered in your standard service agreement.

3.  Internet Agreements – If you currently offer or plan to offer products, services or market your business on the internet, then you will need some basic documents and forms to manage and govern the relationship between you and visitors to your website.  These forms include, but are not limited to a privacy policy, terms of use, and acceptable use policy. Check out this article on internet presence.

4.  Software Licensing – If you design or develop software, websites or other technology, then you will need a software or technology license to sell and service your product.  The key component of this type of agreement is the specification of ownership of the product and the extensive use options available to you.

5.  Employment and Consulting Agreements –Nothing is more important than the people you have helping you build and grown your business.  Since these people are exposed to your business plans, marketing strategies and other important trade secrets, you need detailed agreement to outline and govern the rights and obligations between your company and these important people.  Whether you hire people as employees or consultants, then you need solid agreements to govern the rights and responsibilities of your relationship.

6. Intellectual Property Agreements – Depending on your company and how you operate, intellectual property can mean anything from development and protection of trademarks and trade names to patents, processes and other materials and trade secrets you may make available to third parties.

As you can see there are a vast array of forms and agreements you may need just to get your business started. However, the investment you make in your operations early, will pay off in the long term as your business grows and develops.  The Collins Firm is experienced in building and developing the forms and contracts you need to make your business successful.

All you want to know about The Collins Firm…

The principal of The Collins Firm is Matthew P. Collins who has operated his law practice for almost twenty years.  The Collins Firm provides a wide array of legal services for small and midsize businesses worldwide.

The Collins Firm has helped businesses grow and succeed for almost twenty years by working with clients to grow and develop their businesses through negotiating and drafting contracts, merger agreements, and other transactional agreements.  Additional legal services include business formation and document drafting and review, terms of service, privacy policies, license agreements, DMCA claims and much more.

One reason for the success of The Collins Firm in helping businesses is that Mr. Collins has been a business owner of several successful businesses.  With this background, Mr. Collins is able to provide superior advice and legal analysis that is based on a far wider foundation of knowledge than a typical lawyer may possess.  This real world business experience gives clients the information needed to make quality decisions essential to building a successful business.

Because of the twenty year history of The Collins Firm, clients can obtain fast and efficient legal services that save them money.  Since time is money, the extensive experience of the firm provides the tools necessary for legal services to be provided expediently.

Please contact The Collins Firm to learn more.  Here’s how to reach us:

Email:                         info@mpcollins.com

Phone:                        404-214-6070

Fax:                             678-669-1518

Mail Address:           PO Box 191062

Atlanta, Georgia 31119

Physical Address:    Five Concourse Parkway, Suite 3000

Atlanta, Georgia 30328

What Corporate Structure is Best for Your Company?

What type of business entity is right for you and your business?  Today there are many choices for your consideration so you should spend some time reviewing your options so you can make the right decision for you and your company.  You need to choose the best business form that meets your needs and The Collins Firm is happy to help you analyze the choices and options available to you and your business.

Due consideration should be given for the choice of business formation and the type of business entity you should use.  In most states, there are several different types of business entities you can use for your business formation and I’ll spend a few minutes here looking at these options:

1.  Sole proprietorship – This type of business is used for VERY small businesses but does not afford any liability protection.  Most attorneys agree that this is the business form you should NOT use because of potential exposure to personal liability for events of the business.

2.  Corporation – This type of business entity is traditionally the most common business form and is very popular in large businesses especially long term established businesses.   The law regarding corporations has a long history thus giving you predictability in legal operations.  Many companies want to stay with a traditional corporation as that gives the feeling of stability and establishment that many businesses are seeking.

3.  Limited Liability Companies – This type of business is fairly new and does not have the long history of legal precedence, but the LLC law itself is modern and totally updated.  The LLC is often a good choice for small and medium sized businesses and in fact, I prefer to set up most of my clients as a Limited Liability Company because this form offers a wide variety of tax options in terms of how the company is treated.  Of course, this form does offer liability protection for individual owners.

4.  Partnership – This type of business is often used for very small partnerships involving two or more individuals.  Like a sole proprietorship, the form does not provide any liability protection so it is not a good form for most businesses.

5.  Limited Partnership and Limited Liability Partnership – This type of business generally provides the benefits of a partnership with the legal protections of a corporation.

As you can see there are many options for your consideration when it comes to corporate formation so it behooves you and any small business owner to check out the form that’s best for you and your business.

For more information, call for a free telephone consultation at 404-214-6070. You may also email us at info@mpcollins.com.

 

Welcome to The Collins Firm!

Welcome to the internet home of The Collins Firm, a law firm dedicated to assisting small to mid size businesses like yours with the legal services you need to start, build and develop a growing business.

The Collins Firm is uniquely qualified to help you with your business because of real world experience developed from working with small to midsized businesses for almost twenty years.  More importantly, Mr. Collins has built and run many small businesses himself, most of them based on the internet.

You will find that The Collins Firm has expertise and efficiency in a wide variety of business matters that will give you a legal edge over your competitors.

We have a thorough understanding of the ever changing business environment, and stand ready to protect your business interests.

We are dedicated to providing excellence in legal services for your business needs.  Call us at 404-214-6070 or email us at matt@mpcpc.com to learn more about The Collins Firm today.