The simple answer to this question is, "yes." Every limited liability company should have an operating agreement. Just because a Texas LLC only has one member and owner does not mean that this document does not serve any purpose. In fact, it is just as important as it...
Month: September 2020
The many phases of due diligence for oil and gas acquisitions
Texas entrepreneurs who are interested in purchasing a business in the oil and gas industry are wise to conduct thorough due diligence before finalizing the transaction. The first phase generally involves gathering data. The selling party often has a sales brochure...
Comply with regulations by having the right business license
Starting a business commonly means having to jump through various hoops before having a fully operational business. If individuals try to sell products or perform services without complying with the necessary state regulations, they could end up in serious trouble. As...
Two business lessons from 7-Eleven’s acquisition of Speedway
Texas convenience giant 7-Eleven recently announced the acquisition of another big player in the convenience-store arena, Speedway. The business, headquartered in Dallas, invested a large sum into the deal. Even though the deal is one that involves billions, $21...
A breach of fiduciary duty can cause trouble for businesses
It's virtually impossible to run a business single-handedly. As a Texas company grows, owners often need help from employees and outside parties to handle tasks that they cannot realistically handle on a day-to-day basis. Often, owners will enter into contracts with...