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Business Formation

Starting a new business or expanding the scope of your current business is a big step for any entrepreneur. An important initial step in forming a new business is to determine the type of business structure that you will use. There are several business structures to choose from, including sole proprietorship, partnership, corporation, limited liability company and limited liability partnership. Each has advantages and disadvantages as well as tax consequences of which you should be aware. The Mumphrey Law Firm can help you decide which of these structures best suits your business objectives and needs. Contact the Mumphrey Law Firm.


Contracts

Contracts are promises that the law will enforce. The law provides remedies if a promise is breached or recognizes the performance of a promise as a duty. Contracts arise when a duty does or may come into existence, because of a promise made by one of the parties. To be legally binding as a contract, a promise must be exchanged for adequate consideration.


Many businesses enter into contracts on a regular basis. But, many do not understand the complex components that can affect the enforceability or parameters the contracts spell out. Working with the Mumphrey Law Firm can help you enter into contracts that protect your company's interests.


If you're starting a new business or if your current business needs legal help before entering into a business agreement, contact the Mumphrey Law Firm today.

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