While engaging in a family-owned business can be both financially and emotionally rewarding, it can also present a unique set of challenges. The success of a family-owned business often hinges on the family’s ability to cooperate with each other under stressful conditions.
Our attorneys understand that family owned small businesses reach their furthest potential when each family member utilizes his or her strengths and abilities in the most productive manner possible. However, just as there will always be arguments around the dinner table, there will always be some disagreements or other problems that arise within a family-owned business. Our firm works with families to assist them in overcoming any legal obstacles that may arise and allow families to focus on what they do best, running their business.
“The biggest mistake most family or friend centric businesses make is not having a partnership or shareholder agreement in place from the start of the business.”
At Bashian & Papantoniou, we explain the differences between the various types of business entities and formation opportunities, including the benefits of organizing your company in various states.
As experienced business attorneys, we understand the intricacies and issues that may arise in forming a legal relationship with family and close friends.
Our firm provides legal services for all types of entities, including:
- Limited Liability Companies;
- Professional Limited Liability Companies
- Limited Partnerships;
- Corporations (both S and C corporations); and
- Sole Proprietorships.
After thoroughly explaining the pros and cons of each type of business entity, our lawyers will assist you in choosing the best business structure for the particular set of circumstances that meet your goals. Once the choice is made, we complete the business formation process in a timely and cost-effective manner, including filing all necessary forms with the state.
We will also draft all necessary initial corporate documents, including:
- Shareholder agreements;
- Operating agreements;
- Partnership agreements;
- Company rules, regulations and policies;
- Manager agreements; and
- Employee agreements.
Our firm will assist you in planning corporate meetings and drafting the appropriate minutes for such meetings. Once the formation of your business is complete, we continue to work with you to overcome any legal obstacles that may arise to ensure that your business operates smoothly.
Our attorneys understand that no matter how well family members get along, operating a family-owned business can create disagreements and disputes that intensify quickly.
We also recognize that that litigation stemming from a family run business can be extremely time-consuming, as well as financially and emotionally taxing. In fighting to obtain the best possible outcome for our clients, we generally suggest that our clients look into settling business disputes before pursuing a time consuming and financially draining lawsuit in court. Here, we can help you create and propose amicable resolutions to any type of dispute.
In the event that a settlement is not available then we can represent you in all facets of litigation from commencement through trial.
“The best way to avoid litigation in a small business environment is to ensure that partners have entered into a comprehensive operating agreement or shareholders agreement from day one of the business.”
Should the unfortunate event of litigation become necessary, we consult with our clients to ensure they fully understand each step of the litigation process. Our lawyers are experienced in representing business owners from all backgrounds and walks of life. We are experienced in both asserting and defending against all types litigation related claims that may arise in the context of a business including, but not limited to, claims of breach of fiduciary duties, fraud, breach of contract, corporate waste, as well as, accounting issues or corporate dissolution claims. Our lawyers are experts in navigating the court system to ensure that your goals are achieved in the most efficient manner possible.
Meet Our Professionals
The attorneys at Bashian & Papantoniou are constantly striving to take law to the next level. Our team is comprised of exceptional professionals who put their clients first. We are knowledgeable, personable and diligent. Client success is our top priority.