Texas Personal Liability Legal Shield Attorney
Limited Partnership Attorney in Austin, Texas
Contact Business Law Attorney John McDuff
A limited partnership is a business structure whereby a general partner makes the operating decisions of the company and investors are limited partners. This entity provides a legal shield for the investors, like in a corporation, but allows the limited partners the ability to control the major decisions of the business. Limited liability is complete when the general partner is an LLC or similar entity with few assets.
A limited partnership agreement is like a contract in some respects. I have the opportunity to satisfy my clients’ needs through writing custom terms in the agreement.
Call me at 512.457.1177 to schedule an appointment.
In some ways, limited partners are in similar positions as shareholders in a conventional corporation. They could be shareholders and have others make the operational decisions through a board of directors. Of course, there are differences, as well. My role with a client is to distinguish the different types of entities, so that the unique needs of the investors and management are matched with the best form for them. As a veteran business law attorney and CPA in Austin, Texas, I have served in this capacity for many business clients. I am able to advise on tax structure, as well as limited liability and management. I am well-qualified, well-prepared and willing to treat each client’s new business with as much care as if it were my own.
Beyond entity selection are the all-important agreements that new businesses encounter, such as commercial leases, which may be of interest and importance to my clients who are establishing limited partnerships. I can advise on employment contracts, Covenants Not to Compete, and such matters.
The quality of my work as a lawyer is well recognized by my clients, and I have received the AV rating* under Martindale-Hubbell’s peer review rating system.
Contact me, John McDuff in Austin, TX, by phone at 512-457-1177 or e-mail to schedule an appointment to discuss issues such as personal liability and tax consequences, as they relate to a limited partnership and other entities.