​​​​​​​                 Telephone 520 792-2450        Facsimile 520 882-4408     2720 E Broadway Blvd. Tucson, AZ 85716       John@JStandifer.com

John J. Standifer Jr.   Attorney at Law

Common sense, results-driven legal counsel

Get Help with Business Contracts and Incorporation



Business Contracts Tucson

A contract is defined as a “promise enforceable by law”.  A Tucson business contract can be documented by a formal written document or it may be as informal as an unspoken understanding.  A written contract serves several purposes. Traditionally, the most important purpose of a written contract is to memorialize the rights and liabilities of the parties. Another, less recognized but equally important, purpose of using a written contract is to make more certain that the parties have the same understanding of the agreement. During the process of negotiating the terms of a written business contract, the parties frequently find that their understandings of the agreement are materially different. A third purpose served by a written business contract is that for some contracts, for instance the sale of real estate, a written contract is ordinarily required. 


BUSINESS PURCHASES AND SALES

I regularly deal with the purchase and sales of businesses. By consulting with an attorney early in the process, you can structure your purchase or sale to be of the most benefit to you.



DISPUTE RESOLUTION

Commercial dispute resolution may be a simple as an exchange of correspondence, or may degenerate into commercial litigation.  I litigate when necessary but because of the risk, cost, waste and stress of litigation (my own and my client’s), I have a profound distaste for the litigation process. In my experience, litigation is a last and carefully considered option. 


SUCCESSION PLANNING

Succession Planning is a critical part of any business.  As business owners age, issues frequently arise regarding what happens to a business if an owner dies or becomes unable to continue in the business. A method of resolving these issues may be set out in an Operating Agreement, in a Buy-Sell Agreement, in Bylaws or in a Will or Trust.  These provisions can make it more likely that the business will survive and benefit to the successors of the owner.  

Contact us for succession planning legal help.  Succession contracts allow you to rest easy knowing you have provided a framework for the future of your business.


BUY/SELL AGREEMENTS OR BUSINESS BREAK-UPS

When businesses are owned by multiple owners, one of the most important agreements they need to make is what happens if any one of the owners is unable or unwilling to continue the association.


The best time to reach agreement on these issues is at the beginning of the relationship. Reaching the point that one of the owners is unable or unwilling to continue the association, without having a prior agreement in place, places the owners at substantial risk of litigation that might have been avoided.


Because the nature of both owners and businesses is so variable, buy-sell agreements vary more than most other commercial documents. Call me when you need a buy/sell agreement in Tucson. We can help you create a Tucson Buy/Sell agreement to meet your specific needs. 

FORMING AND DOCUMENTING CORPORATIONS AND LIMITED LIABILITY COMPANIES


Historically we have assisted in the formation of both corporations and limited liability companies (LLCs).


Unless our client has a specialized need for a corporation, as opposed to a limited liability company, I recommend the use of a limited liability company rather than a corporation. An LLC is easier and less expensive to form and administer.  At the same time, it is often more advantageous for a business to be taxed as a corporation, either a traditional corporation or an S-Corporation.


This is an area that frequently confuses clients. One the advantages of an LLC is that it can elect how it is to be treated for income tax purposes.  Even though there are many fundamental differences between LLCs and corporations, an LLC can elect to be taxed as a corporation. This strategy gives our clients the ease of creation and administration of an LLC while at the same time taking advantage of corporate tax provisions.


Let us help you decide what form of company works best for you.  Call now to set up your business formation consultation.    

 

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Contact John Standifer today to discuss any legal issues for which you may need counsel.  

We want to help.

Telephone 520 792-2450        Facsimile 520 882-4408     2720 E Broadway Blvd. Tucson, AZ 85716       John@JStandifer.com




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