This can be a broad term and encompass a plethora of legal issues. The world of business law is one of contracts. From forming a business, to business transactions with consumers, as well as relationships between other businesses, contracts provide the underlying framework. Mr. McGough typically advises upon a few specific areas within business law. Some of these areas are exemplified below.
Many times disputes between partners or members of a corporation require the assistance of an attorney. Also, disputes with consumers may arise over services or sales. Different types of businesses, services, and sales fall under different governing rules. Whether the dispute involves issues covered by Federal Regulations, the Uniform Commercial Code (UCC) or Wisconsin Statutes, you should make arrangements to consult with an experienced business law attorney.
LLC’s (Limited Liability Corporations)
Mr. McGough has assisted multiple businesses and business partners with the process of forming LLC’s. An LLC is a form of business entity that allows for flow-through taxation and operating flexibility. An LLC insulates its members from liability because an LLC member risks only the capital the member has agreed to contribute. Like a partnership, no federal income tax is imposed on the LLC at the entity level. An LLC affords its members considerable flexibility in ordering the economic and management structure of the entity. The profits and losses of an LLC can be allocated in a manner that best reflects the economic deal of the members, and there is no statutory mandate to observe burdensome formalities such as keeping minutes, holding meetings, or making resolutions.
LLC’s- Operating Agreement
When forming an LLC., an operating agreement is almost always needed to define the relationship between the parties and provide a roadmap for the business for years to come. The LLC laws in Wisconsin, and more generally, in the various states, allow for wide latitude in the negotiation of these agreements. If you are considering an LLC., and need an operating agreement, you should consider hiring an attorney. An experienced attorney can communicate the framework of the operating agreement in simple and plain language. Making sure the client or clients understand the meaning and implications of the agreement they may enter into.
Many businesses face liability issues as the result of an injury that occurs on their property or otherwise related to their work. Understanding how to minimize occurrences that expose a business to liability is an important part of controlling costs. Whether you have been the target of a claim of liability or need advice evaluating your exposure to liabilities, an experienced business law attorney can provide you with the representation you need to intelligently, effectively and efficiently handle the matter.
Attorney Advertising Disclaimer. The information contained on this website is provided for general information purposes only and should not be construed or interpreted as providing formal legal advice or as a substitute for legal counsel, soliciting legal services, or guaranteeing a particular result.
W. Chris McGough, LLC. is a limited liability company formed in Alabama and registered to operate as a foreign corporation in the State of Wisconsin.