Business Law

Business Law Attorney in Fayetteville, AR

Rick Woods provides high quality, cost effective legal advice to businesses of all sizes. Rick can assist you with all of the legal aspects of your business. He’s able to provide guidance as to how to create the proper legal structure to maximize the effectiveness of your business. 

In addition, after your new legal entity has been created, Rick Woods continues to guide you through the process of maintaining proper records to keep your business in compliance with all applicable Federal and State laws.
If you have any questions or if you wish to discuss a case further, please do not hesitate to contact Rick for a free initial consult.

Business Litigation Center

Today there are cost effective alternatives to filing a lawsuit and proceeding to court, which may take a long period of time and cause your business to incur large fees in the process. Many disputes are settled without ever filing suit in a traditional court. In many situations, alternative dispute resolution (ADR), discussed below, is perfectly suitable and less expensive than litigation in a court of law.

If you are considering filing a lawsuit or are faced with defending one, you should seek out a skilled trial lawyer who can explain these options to you and vigorously represent you in your litigation.

Type of Entity to Use

One of the first decisions facing a business is choosing the type of business entity to create. The type of business organization is an essential consideration in the context of taxes and preventing exposure to personal liability. When selecting a business organization structure, business owners should weigh several factors, including: the size of the business, the activities of the business, the business’s profitability, and the business’s insurance. An experienced business attorney can explain the relevant considerations and consequences in order to choose the proper type of business organization. The three main categories of for-profit business entities are: 

• Incorporated entities
  • C corporations and S corporations are the common forms of incorporated businesses. 
• Unincorporated entities
  • Unincorporated businesses include sole proprietorships and partnerships. 
• Limited liability companies (LLCs)
  • A limited liability company (LLC), on the other hand, is a hybrid of the unincorporated and incorporated form, blending some of the benefits of each.

Business Agreements

Contracts are simply agreements or promises between one or more parties. People often enter into contracts without even realizing it. Business owners need a comprehension of the basic concepts of contract law, but they should also be ready to seek the advice of a business attorney when conflicts over contracts reach the stage of legal action.

Contracts can be made in a variety of ways. They can be written (some must be in writing), oral or implied by conduct or a history of past dealing. For example, if you have been receiving shipments from a vendor for a period of time and are always billed monthly and have paid the bill an implied contract has been formed. When conduct or the cost changes, you need an experienced business lawyer to assist you in resolving any disputes. Contact Rick Woods for contract & agreement law advice.