Austin, TX (PRWEB) May 18, 2010
One time early in his career, Jonathan Connor, principal of The Connor Law Firm, learned first-hand from an Austin business client how a lack of proper business planning, business organization and ongoing legal consulting could cost a company dearly.
Connor still remembers the initial meeting with the engineering company, which had been originally organized by the owners as a corporation with four shareholders. “The stress and worry in the voice of the company’s president was palpable during the meeting,” recollects Connor. “He and his fellow corporate shareholders stood to lose a considerable amount of money because they forgot to restructure their corporation years earlier when one shareholder decided to part ways during its unprofitable start-up phase. Later, after they became a very profitable company, the old shareholder showed up claiming he was entitled to a share of the current and past profits. Unfortunately, we had to negotiate a hefty buy-out of the old shareholder. If only they had come to us sooner – we could have restructured the corporation to prevent such a costly mistake” he adds.
It was a real-world lesson in business planning Connor took to heart. Since then, The Connor Law Firm has built an enviable reputation in Austin by helping business clients avoid problems arising from improperly set up business entities such as an LLC or corporation. In one particular case defended by The Connor Law Firm, an Austin business client faced a lawsuit due to the negligence of a subcontractor. Because The Connor Law Firm had specifically set up the LLC to maximize liability protection, Connor was able to protect the personal assets of the Austin business client from a subsequent unfavorable judgment.
The Connor Law Firm’s support of Austin businesses is not limited to the set up and legal administration of LLCs and corporations. “As businesses grow, a variety of legal needs inevitably arise,” says Connor. “Planning for business continuation and business transitions such as exit strategies, business sales and business acquisitions help owners protect what’s probably the greatest single investment they will ever make.”
Fortunately, over the past 15 years, The Connor Law Firm has celebrated many victories with his business clients. One such client was an Austin investor who was on the verge of purchasing another company but decided first to consult with Connor. “We checked out the legal status of the corporation and looked for any unknown liens against it,” recalls Connor. “That was when we discovered the company was not even a legally documented business in Texas, contrary to the seller’s claim. We saved our client from paying a large investment for an empty business shell,” he adds.
Connor delights in his role as protector of his clients’ interests. “Some of my business clients have taken to calling me the ‘attorney for their family’, because my protecting their businesses is the first step in protecting their family” Connor admits with a bit of a smile. “Honestly, I’m just as happy when nothing ever happens to threaten my clients’ business interests; but when threats do arise, I know my business clients will have the legal protection they need,” he adds.
About The Connor Law Firm
The Connor Law Firm has provided insightful legal advice to Austin area business clients in need of LLC and corporation set-up assistance for the last 15 years. Connor’s business advising includes creditor and liability protection, business acquisitions, business sales, non-competes, and more. For information about The Connor Law Firm, visit our website at http://jonconnorlaw.com/ or call us at 512-477-2141.