Limited Liability Company: A limited liability company (LLC) is not a partnership or a corporation. An LLC is a distinct type of entity that has the powers of both a corporation and a partnership. LLCs are very common these days and we definitely set up more LLCs than any other business structure. The owners of…
I’m sure all of your experienced some type of distress or property damage from the recent winter storm. I actually had a roof leak develop in my dining room and multiple outside faucets sporting “ice beards” of frozen water. I couldn’t find my homeowner’s insurance policy, so I just called the insurance company and started…
Corporations. Most people are familiar with big corporations that make products or provide services we all regularly use, such as Ford and American Airlines. However, the corporate business structure is also available to individuals. In Texas, a corporation is created by filing a Certificate of Formation with the Texas Secretary of State and paying the…
There are certain areas of construction for both developers and subcontractors that we know asattorneys are consistent problem areas. Today, I am going to focus on the most sensitive area whichcauses probably the most grief for everyone involved – paying and getting paid. On the owner/developer side, we see issues of subcontractors not performing to…
The week of February 14, 2021 will not soon be forgotten and many of usare still dealing with issues that arose from frozen pipes. It is easy to understandand expect that plumbers or wannabe plumbers are well aware of these issues.While the need to act quickly is very important, we still need to actcarefully. Plumbing…
This week we are lucky to have my own personal CPA, Frank Sikich, CPA, CHAE, of Flower Mound, Texas, to give us an update on the new changes to the PPP Loans, including how to obtain forgiveness and what you can spend the money on: At the end of 2020, Congress passed, and President Trump…
As mentioned in Part 1, two other typical business structures in Texas are the “general partnership” and “limited partnership.” A general partnership is created when two or more persons associate to carry on a business for profit. There is no law in Texas mandating that the “partners” sign a written partnership agreement and there are…
KMDA is very pleased to announce the addition of Carlo Caravetta as the newest senior attorney to our firm Release Date: “For Immediate Publication” Lewisville, TX Kelly M. Davis & Associates, LLC is pleased to announce a new hire as Senior Counsel in its Lewisville, Texas office –Carlo E. Caravetta – to fill a new…
The biggest fear I have as an attorney representing businesses is their lack of protecting their trade secrets. Most business owners do not realize the protection provided under the law in most states for those items included in the category of “trade secrets.” For instance, do you realize that your client lists, methods in performing…
