John Philip Argonia

BUSINESS LAW Here at The Narrows Law Group in Tacoma, we take full pride in making sure our clients’ businesses thrive in any given situation. We aim to create connections that matter and to enhance small businesses because after all, we are a small business ourselves and therefore we understand and feel the hardship and challenges that are ahead of you. Our mission is to provide our clients with advice that embody the entrepreneurial spirit, in a trustworthy manner, while also establishing long-lasting relationships. We are here to guide you in navigating the world of business throughout all of its stages and prepare you for the following: Forming a business Contract drafting, review, and negotiation Entity formalities Commercial Real Estate Partnerships With years of experience and as business owners ourselves, we are prepared to tackle and prepare your business for its boom to success. WHAT ARE THE CORE CONCEPTS OF BUSINESS LAW? BUSINESS LAW’S GENERAL IDEA The concept of business law is that it covers the law governing sales, contracts, commercial paper, agency and employment law, property issues, business organizations, non-compete agreement, and bailments. It also includes the process of starting, selling or buying a business, managing, reviewing leases, dealing with employees, and dealing with contracts. Insurance, succession planning, and consumer and creditor protection are also amongst the popular areas of Business Law. BUSINESS FORMATION Deciding the type of business to form and how it will be run is part of setting up the legal structure of your business. These structures are most often in the shape of sole partnerships, proprietorships, limited liability companies (LLC), or corporations. It is no secret that forming and establishing a business is a very complicated process that has complex areas such as choosing your business entity and maintaining it. Nevertheless, our team of attorneys are here with you throughout the whole process. CORPORATIONS A corporation is one of the most appealing ways of starting a business because it exists as a separate entity. As a corporation, you are authorized by statutes to form an association that operates a business which stands on its own and by which the owner(s) or shareholder(s) do not possess the individual liability for the debts or any other liabilities of the business. Corporations are able to have one or any larger number of shareholders who are considered owners of the corporation as they own one or more shares of the corporation’s stock. Corporations are one of the traditional forms of doing business in a limited liability format. SOLE PROPRIETORSHIPS These are businesses that usually come as a small business who are owned and managed by a single individual or married couple with no limited liability entity. Businesses in this form are individually liable for all debts and other liabilities arising out of the business’ operation. As with any type of business, a sole proprietorship has its pros and cons that should be considered and understood by the individual who is planning to start one. PARTNERSHIPS In contrast with the previously discussed business form, partnerships are formed when two or more individuals decide to build a business together and do not form a limited liability entity. Members of the partnership are individually liable for the acts of the other member(s) done while representing the business. LIMITED LIABILITY COMPANIES A limited liability company (LLC) is a business structure where the owners are personally not liable for the company’s debts or liabilities. Just like corporations, LLC owners are entitled to form a separate entity and enjoy the benefits of limited liability. The main difference between an LLC and a corporation is that an LLC is owned by one or more individuals while a corporation is owned by its shareholders. Limited liability companies have become one of the most frequently chosen forms of doing business due to the flexibility that it provides to its owners, especially in tax elections. BUSINESS PLANNING A business plan is a written formal statement with the business’ goals, reasons why they believe the goals are realistic and achievable, and the plan for reaching those goals. Good business plans include a solid business strategy, financial planning, executive summary, products and services, and many more. It may also contain the background information about the team or organization behind the business who are attempting to reach the said goals. BUSINESS LITIGATION (LAWSUIT) Business litigation is the area of business law that gives assistance in the preparation and presentation of a lawsuit to determine a legal question or matter in business situations. Managing and minimizing risks are important for any type of business. When your business or company gets involved in any type of lawsuit, you should be ready to tackle it head-on. CIVIL LITIGATION (LAWSUIT) Civil litigation occurs when two or more parties become involved in a legal dispute that seeks money damages or specific performance rather than criminal sanctions or accusations. These cases may head to trial where a judge will decide the outcome of the dispute. CONTRACTS A contract is a binding legal agreement where an exchange of promises between two or more parties to do, or refrain from doing an act which is enforceable in a court of law. If one or more things stated in the contract is broken or breached, the law will be there to provide remedy. As with any written documents, taking your time in reading contracts before signing is a must as this can reduce the chances of problems and/or lawsuits in the future. BUSINESS LAW ATTORNEYS IN TACOMA Starting and managing a business is a big step and venture for most individuals. It is often that you will need professional legal advice to get you and your company/business to the right direction. Our experience in serving clients in Tacoma, Seattle, Gig Harbor, Federal Way and Puyallup have proven that we are a formidable team that is capable of guiding you through your venture in entrepreneurship and business. You and your business matters here at The Narrows Law Group. Contact us now for your business law needs.