CONTRACTS/CORPORATE

JUPITER LAW CENTER represents many “Mom and Pop” businesses, from the inception of the business through incorporation and/or a Buy-Sell Agreement, through reviewing Contracts, preparing and reviewing Non-Compete Agreements or dealing with Employee issues which may arise to the winding up of the Corporate assets through a sale or merger.

Below are a few interesting facts about Corporations and Contracts:

• There is no such thing as a STANDARD CONTRACT.

• A CORPORATION may consist of only one (1) person.

• A Small Business CORPORATION may avoid paying double taxes (corporate and individual) by electing to be a Sub-Chapter “S” Corporation. You should always check with your Accountant to determine the most advantageous corporate structure for your business.

• Directors of a CORPORATION who willfully or negligently vote to declare dividends are liable to the Corporation for the amount paid improperly.

• A CORPORATION is a separate legal entity from its Shareholders - and may exercise many of the same rights and privileges as a person. The benefit of incorporating is that, with some exceptions, the Corporation serves to shield its Shareholder(s) from Personal Liability.