Advocating for Your Business
At De Pury Law we work alongside you to protect your business. Your business is a legal entity and as such it has specific rights in the eyes of the law. The lawyers at De Pury Law work to protect those rights with proactive council on contracts and the formation of your business, as well as reactive council when resolving a business dispute.
Areas of Corporate Law
- Contract Writing and Review
- Business Disputes
- Formation of Corporation
- Protecting Intellectual Property Rights
Non Profit organizations have many of the same legal rights as corporations. At De Pury Law, we work to support these Non-Profit organizations as they navigate the legalities of their organization. We offer support and guidance regarding the state and federal requirements placed on Non Profits.
Major Characteristics of a Corporation
When forming a business, the business becomes its own legal entity. The owners of the business pool their resources into the entity, which now has the right to use the assets and sell them as it sees fit. It can be difficult for creditors of the business owner to gain access to the assets of the business because it is a separate legal entity.
If the business finds itself in trouble, limited liability limits the assets that can be sued for. The plaintiff will not be able to sue for the personal assets of the business owners. This gives the business owners the protection from the actions of the business itself.
An owner may choose to leave the business altogether, with transferable share guidelines in place, this can be done more easily, and the business can continue to run as usual. These guidelines prevent a disruption in business while continuing to allow business owners to make personal decisions regarding their ownership of the business. There can be limits on how shares are transferred, but there should not be a disruption to the actions of the business.
There is a defined structure to corporations that defines how business decisions are made within the organization. There is a board of directors and officers who each serve a separate purpose but work together to become the decision making authority for the entity. Board members are elected by the shareholders and they hire and monitor the actions of the officers.
The offices handle the day to day operations of the company, conducting transactions and making the business run each day. This defined leadership structure creates assurances for parties who do business with the corporation.
The investors of the company also have a say in the operations of the business. Further, they have a right to the corporation's profits through profit-sharing in proportion to their ownership interest. Typically, these investors vote to elect the board members.