Texas Business Entity Agreements
Most entities with multiple owners will desire to have an agreement put in place that memorializes the structure and operations of the business. The most common agreements include shareholder agreements (for corporations), member agreements (for limited liability companies) and partnership agreements.
It is critical that ownership agreements be drafted comprehensively and clearly so that no ambiguities arise during business operations or in the event of disputes between owners. It is important that the agreements comply with Texas Business Organizations Code and the agreements stand up in court if tested. Items typically addressed in ownership agreements include:
- Structure of corporation, partnership or LLC
- Shareholder, partner or member Involvement
- Elimination of undesirable owners
- Buy outs and dissolution
- Change of Control
- Minority Owner rights
A well drafted ownership agreement for a corporation, partnership, or limited liability will help ensure ownership expectations are clear and minimize the likelihood of potential disputes. Feel free to use the form below to request a free consultation with a lawyer about ownership agreements or call our office during regular business hours.