Miami Contract Attorneys & Lawyers

LLCs and Corporations: What are They?

Corporations and limited liability companies (LLCs) are two legal entity structures available in the U.S.  If you're involved in a startup, these are two of the entity structures you can choose from.  They operate differently and are taxed differently, but both provide protection for your personal assets if the company faces financial difficulty and both can add increased credibility with customers.

Other company entity options include forming as a

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When you want to start a business, you will need to decide if your business idea is a viable one. This is done by working on a business plan to move forward with your idea.

To Write a Business Plan

• Choose the type of business you want. This can be a Sole Proprietorship, Partnership, Corporation, or a Limited Liability Corporation.

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Updated June 24, 2020:

How Many Shares Does a Company Have?

Typically a startup company has 10,000,000 authorized shares of Common Stock, but as the company grows, it may increase the total number of shares as it issues shares to investors and employees. The number also changes often, which makes it hard to get an exact count.

Shares, stocks, and equity are all the same thing. A share is one piece of ownership in a company. When you own shares, you are a shareholder. Owning shares in a company gives you the right to your part of the company's earnings and everything it owns. The more shares you own, the bigger the part of profits you're entitled to.

When a company starts up, owners must choose an amount of stocks to authorize. This is the total amount of stocks the company will i

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What Is a Covenant Agreement Contract?

A covenant agreement contract is a written promise in an indenture or other formal debt agreement. It's between individuals who have promised to do or not do certain activities.

In finance, covenant agreements relate to financial contracts. These include loan documents that outline borrower limits. These limits protect lenders from defaulted borrowers and make up the covenant agreement contract.

Covenant agreements are also known as restrictive covenants or restrictive agreements. They're often used in real estate and commercial land use situations. For example, to avoid competition, someone buying a commercial property might be restricted from soliciting employees from the previous business.

Covenant agreements can cover everything from maintaining employees to the smallest dividend payments. They're most often represented as financial ratios that need maintenance. On

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Updated July 10, 2020:

Understanding how to form a multi-member LLC in California is actually very simple. To form your company, you need to file the proper documents with the state and make sure that you follow a few important regulations.

Pick a Name

Before you start the process of forming your California multi-member LLC, you need to pick a suitable name for your company. You should spend some time researching potential names for your LLC. The name that you choose should help consumers understand the purpose of your company, and your LLC name should also be easily searchable.

The name you select for your company must contain an indicator of your status, meaning it should contain the words “limited liability company” or an abbreviation such as L.L.C. or LLC. California, like many states, places restrictions on certain words that you may wish to include in the name of your LLC, such as:

• Attorney
• Bank
• University

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