For many business owners, working with a bankruptcy attorney is often only considered in a worst-case scenario. And while bankruptcy lawyers are certainly experienced in helping companies navigate challenging financial situations, their expertise is not limited solely to formal bankruptcy proceedings. Any business, whether it is facing a decrease in income generation or increasing debts, can benefit from working with a bankruptcy attorney, which becomes especially beneficial if and when an economic recession takes place. Read below to learn more about how a bankruptcy attorney can help your business prepare for a recession.
One of the most critical decisions an entrepreneur makes in the early days of a new venture is related to business formation and taxation. Selecting the right business entity is essential to a company’s successful future and impacts how an organization is taxed. Determining the correct tax designation is equally as important as properly organizing a business’s structure because this designation directly affects how a company’s profits or losses are distributed. Learn more about some of the common misconceptions regarding S-corp and C-corp tax designations and how a business attorney from the Dallas law firm of Ritter Spencer PLLC can help your business thrive.
Businesses of any size must protect their assets, both financial and creative, and copyrights and trademarks are some of the most reliable ways to ensure a business is not exploited. These useful tools are essential for any company, but the process of registering a copyright may feel intimidating. Read below to learn about the dos and don’ts of copyright registration and how the Dallas law firm of Ritter Spencer PLLC can help.
Even the most educated entrepreneurs may make some unintentional mistakes as they take the first steps to start their business. While some of these errors may be easily remedied, others have more serious legal ramifications. With guidance from a corporate attorney, business owners can protect themselves from potentially damaging litigation. Read below to learn about some of the most common legal issues that small businesses face and how the Dallas law firm of Ritter Spencer PLLC can help.
Bankruptcy is a challenging reality for many businesses, and it is not always easy to understand the intricacies of the bankruptcy process. While bankruptcy may not be the ideal solution for all struggling businesses, there are certain benefits that come with a bankruptcy filing, specifically, the automatic stay. Learn more about the automatic stay and discover how a commercial bankruptcy attorney can help your business return even stronger after bankruptcy.
On April 29, 2021, the Texas House of Representatives approved Texas House Bill 1535 (“HB 1535”), a bill that would expand Texas’ medical cannabis program. The Senate must now pass this bill before it can be signed into law and further advance Texas’ marijuana reform legislation. On April 30, 202, Texas House Bill 441 (“HB 441”) was also passed by the Texas House of Representatives; however, this bill faces an uphill climb in the Senate. If HB 441 is passed by the Senate and signed into law, this bill would reduce the criminal penalty for possessing small amounts of marijuana. These two bills indicate significant progress in Texas cannabis legislation but still face an uncertain fate in the Senate. Below, we break down what these reform bills mean for the marijuana community in Texas.
From minor internal concerns to major financial decisions, business owners tackle issues every day. However, entrepreneurs may not always be able to resolve more significant disputes internally. Certain situations may call for the assistance of a business litigation attorney to advise a company on a realistic strategy to resolve a disagreement. Alternative dispute resolution methods give businesses the ability to address a range of problems through a process that benefits all parties involved. Read below to learn if alternative dispute resolution is right for your business and how the Dallas law firm of Ritter Spencer PLLC can help.
Debts build up, cash flow changes, economies rise and fall, and uncertainties increase, and entrepreneurs and business owners may need to reevaluate their financial standing accordingly. However, running into financial trouble does not necessarily mean that a company needs to close shop and declare bankruptcy. Restructuring and reorganization strategies developed by an experienced commercial bankruptcy attorney give business owners more flexibility in finding a solution with their creditors rather than declaring bankruptcy.
On March 30, 2021, New York lawmakers voted in favor of legalizing adult-use cannabis after hours of debate in the State Senate and Assembly. Approximately 12 hours after the legislation was approved, Governor Andrew Cuomo signed the bill that legalizes marijuana for adults and expunges the criminal records of those previously convicted by actions that would now be legal under the new law.
On March 18, 2021, the Secure and Fair Enforcement (“SAFE”) Banking Act was reintroduced in the U.S. House of Representatives by Rep. Ed Perlmutter (D-CO). On April 19 (just before 4/20), the House approved the legislation again; this time by a vote of 321-101, which also includes a majority of voting Republicans. This reintroduction presents yet another opportunity for the cannabis community, and with a Democratic majority now in the Senate, the chances that this bill gets passed have significantly increased. Below, we take a closer look at the SAFE Banking Act to refamiliarize and reiterate its critical points and examine what this could mean for the hemp and cannabis industries.