Business Lawyer Abingdon VA

Business Lawyer Abingdon VAA Business Lawyer Abingdon VA Trusts Explains Business Partnerships

There are a number of reasons people who are in business together may decide to dissolve their partnership. The decision to part ways may be on friendly terms such as the wish to pursue other opportunities or one person wants to retire. However, if you are in a partnership with someone, you may choose to dissolve it for less than amicable reasons. As a result, a highly contentious situation may begin to unfold. Depending on the situation, you could find yourself in need of an Abingdon VA business lawyer.

Ending a partnership can be an uncomfortable situation, especially if the partnership you were in did not end on good terms. The situation may become even more complicated if you and your partner are unable to reach an agreement over who should assume sole ownership of the business.

Reasons to Go Into Business with Someone

There are a number of reasons for two people to go into business together. In most situations, people enter business agreements or partnerships under the best of terms. In theory, going into business with a friend or relative can be exciting, especially if you have established clear boundaries with one another. Unfortunately, in some situations, people are not able to work together anymore. The following are common reasons people partner in business ventures:

    • Sometimes a partnership is more doable financially when starting a business. It can feel like less of a financial burden to share the start-up costs associated with getting your business up and running.
    • Some people may not have the skills required to manage the day-to-day aspect of running a business.
    • You and your business partner have a great idea that you would like to pursue together.
  • It can be fun to work with another person and can be beneficial when taking risks or fostering different ideas and creativity.

By making sure that you and your business partner put in the proper time and planning prior to entering a partnership, you both have the opportunity to benefit greatly. However, achieving this goal should be done with the assistance of an Abingdon VA business lawyer. You will be able to draw up clear agreements in terms of your roles and responsibilities as partners.

Ending a Partnership

Dissolving a partnership can be a complicated process, especially if you and your partner do not agree with how things need to end. There are a number of reasons for people to take this next step. Unfortunately, if the situation is not handled well, it could have a tremendous impact on the business you worked so hard to build.

In some partnerships, one person may choose to leave, allowing the other person to purchase their share of the business. This is a process that will benefit with the assistance of a business lawyer. The business can take a big hit if two people wish to retain control of the business but no longer want to own it together. Regardless of the situation, it may be helpful to take the following measures when looking to dissolve a business partnership.

    • It may be a good place to start by reviewing the partnership agreement that you and your partner have been operating from. Hopefully, this will offer guidance in terms of how you should move forward.
    • Communicate with anyone who may have a stake in the business. If there are other partners involved, you will surely need to work with them regarding their input.
    • Depending on where you live, it may make sense to file dissolution papers with the state formally ending the partnership.
    • You may want to speak with your tax accountant and attorney regarding any other formal steps you should take to ensure that you have officially dissolved the business partnership.
  • Pay off all debts and close any accounts that were held during the partnership.

Although there are a number of reasons for people to enter into a business partnership, there are also a number of risks. Unfortunately, business partnerships have a greater risk of notwithstanding the test of time. It is important to establish clear roles and agreements prior to entering into a business partnership. A business lawyer Abingdon VA clients recommend will be vital in ensuring that you both have clear agreements regarding your business and what should happen in the event that you choose to dissolve the partnership. Having a clear plan in place from the get-go, can make it much easier should you hit any bumps down the road.

Five Reasons Why You Need a Business Plan for Your Small Business

Business plans have been used for a long time, though certain entrepreneurs find them more useful than others, as a business lawyer Abingdon VA offers might attest. Some business owners think business plans are outdated documents with the sole purpose of swaying bank managers for better financing. A business plan is more than that, though. It is a tool that can help you run your enterprise more efficiently.

Managing a small business doesn’t have a “one size fits all” solution, but a solid business plan can act as a blueprint. A business lawyer in Abingdon VA, such as Mark T. Hurt, may help you create a plan for your company.

If you’re still on the fence, here are five strong reasons why creating a business plan can be a smart investment of your time and energy:

  1. Establish a Game Plan

A standard formula may not exist for running a company, but every startup needs a working model. The first thing you want to define is what your business is trying to achieve. What problems do you intend to solve among consumers? How will you brand and market your products? What about the price? Lack of a business model is one of the top reasons Forbes credits to the failure of 80% of startups.

  1. Understand the Marketplace

It’s a recipe for failure when someone is running a startup without knowing who their competition is and how the industry operates. To acquire a portion of the market, your products must offer the consumer something that the competition doesn’t. What are your rivals doing poorly? Why do consumers favor some brands over others? A business plan should help you learn these answers.

  1. Plan Your Financing

Even if you are not going to ask for a bank loan to fund your startup, it’s essential to have information about how much your venture will cost. A business plan estimates different expenses, such as renting or buying commercial space, hiring staff, and acquiring assets like equipment and inventory. If your company needs investors, then a business plan is a must-have. Interested parties will want to see what they are investing in. Whether you are approaching private investors or a bank, you’ll want to have a concrete business plan.

  1. Avoid Mistakes

Mistakes in business are common, but some of them are preventable when you have a blueprint to stick to. A business plan allows you to anticipate potential problems that your company may face. Legal issues are some of the most common problems. By hiring a business lawyer Abingdon VA can provide before problems arise, you can ensure that your company adheres to all necessary regulations, compliance, and certification requirements. The typical Abington business lawyer handles a host of other business needs ranging from employee contracts to business partnerships.

  1. Create a Plan For Growth

When writing up a business plan, an entrepreneur must establish benchmarks. Most companies usually set three- to five-year goals. By reviewing the performance of the enterprise after the required period, you can tell if the strategy is working. Based on the progress of the existing business plan you can decide if your company needs to pivot to a new approach. Note that business objectives evolve with time and therefore your plan will need adjusting after a while. An experienced business lawyer Abingdon VA has to offer may help you create a strong business plan that can be modified easily over time.

Protecting Assets When You Are A Business Owner

One of the drawbacks about having money is that it can make you vulnerable to judgments and lawsuits. All of that equity you have built up in the family home, all of those hit and miss investments you have made, and other financial successes you have had can become victim to business or other type of creditor liability.

It is not uncommon for people who are successful in business to be targets of lawsuits, both legitimate and frivolous. A successful business owner may find him or herself being sued by a disgruntled employee, competitor, or other party. Given the ups and downs that go along with owning a business, there is also the risk of issues with business loans or lines of credits that could target the assets of the business. Whatever the source of threat, protecting one’s assets before these threats present themselves is critical. So how does one protect business assets from liability?

Assets of a business that may need to be protected include accounts receivables, intellectual property, and any surplus cash the business may have. The first step an asset protection attorney will take is to recommend a business structure that will minimize liability, as well as determine how the business should be structured. Factors used to make these determinations include what the sources of potential risks could be and the extent of the risk these sources pose. A business lawyer in Abingdon, VA can explore the specific risks that affect your assets and devise a plan to protect them.

Business owners must also make arrangements to protect personal assets, as well. The type of business entity that is chosen does not always accomplish this. For example, professionals like architects, attorneys, doctors, and anyone else with a professional practice will often be held personally liable for malpractice no matter their business structure. There is no guarantee that the court overseeing a lawsuit will agree that the business structure protects the individual against liability, even if the entity is a Limited Liability Company (LLC) or corporation.

Mark T. Hurt: A Business Lawyer Abingdon VA Companies Depend On

It is these risks and uncertainties that make it imperative for business owners to consult with an a business lawyer in Abingdon, VA to make legal arrangements to protect both personal and business assets from any outside threats of lawsuits or creditors. The legal team at the Law Offices of Mark T. Hurt  will not only evaluate your business to ensure you are in the best possible business structure for your situation, but also make sure your assets are well protected from any of those outside threats.

With more than 25 years of experience, the Law Offices of Mark T. Hurt have been helping clients devise business plans and protect assets and property, and we will work with you to ensure a safe future for you, your family and your business.

For more information about creating a business plan, please contact The Law Offices of Mark T. Hurt to schedule a consultation with a business lawyer Abingdon VA trusts.

Client Review

“Got reckless driving in a construction zone reduced to the lowest level speeding ticket. Brooke and Carol were very helpful and informative throughout the whole process. I was very nervous my first speeding ticket. Thank you so much”
Latanya Mcneil

What Our Clients Say

A very professional team who understands the stress of being in an accident. Our paralegal, Courtney Cormier, made us always feel as if things were being taken care of and it was nice to be worry free.
Kristina Murray
Kristina Murray
18:29 03 Mar 21
Diana Phipps
Diana Phipps
13:46 03 Mar 21
After my car accident, Mr. Hurt and his team worked very diligently to get me a fair settlement. Courtney Cormier, a paralegal on the team, was an invaluable asset to me. She always kept me informed of everything that was happening. I couldn't have had a better experience.
Caleb & Kristina Murray
Caleb & Kristina Murray
21:54 22 Feb 21
I could not be more pleased with the service I received. He is a wonderful lawyer and he gets the job done.
Country living woman Mountains
Country living woman Mountains
05:52 22 Dec 20
This law firm has great people skills and are very professional and efficient I would definitely recommend anyone to this law firm.
Lucas Green
Lucas Green
18:06 06 Dec 20
Courtney done a very good job with my case at the abingdon va office very quick and efficient great job highly reccomended my auto accident was in may and alreadh we have settled for maximum amount thanks so much
James Smith
James Smith
06:57 05 Dec 20
I contacted the law offices of Mark T. Hurt regarding a traffic ticket I received. Initially I was concerned because I live between Florida and New York, and with Virginia being midway, handling my ticket would be a major inconvenience, and I wanted to keep my record free of any infractions.Choosing Mark T. Hurt to represent me was the best choice I made, and it was further improved with the assistance of Rhonda, who contacted me once they received my request. Rhonda is one of those unique people who has mastered the fine line between being perfectly professional and friendly. Every conversation we had, was made to feel as if I were speaking to a close friend. One of the most appreciated aspects of working with her was her understanding and respectful of my schedule and time.For my work, I have a hectic schedule and very few free moments, so being able to handle things quickly and effectively is a priority for me, and Rhonda understood that and took care of everything as if she knew exactly what I was expecting. I even got sick while working with Rhonda, and her first comment was to wish me well. She also went out of her way to find solutions regarding my traffic citation that worked around my schedule. The price was fair, and when considering the quality of work and more importantly, the quality of people you will be reliant upon to ensure the best possible outcome for whatever your situation is, they can ask for 10x more than what I paid and it would still be worth it.All in all, recommendation for this law office, and for Rhonda herself, could not be higher. If you are searching for someone to represent you in any legal matter whatsoever, this is the office to work with. Thank you again Rhonda.
Al Fortunatti
Al Fortunatti
00:47 07 Nov 20
My lawyer Courtney in charge of my case was very professional, and very responsive to my personal injury and auto claim. She had it settled in a timely manner very polite and I would recommend this office to anyone.
Samantha Mays
Samantha Mays
21:28 06 Nov 20
I would highly recommend this law firm! Courtney helped me with my personal injury case, she answered all my questions and was always responsive throughout the entire process.She advocated for me efficiently and strived for the best possible outcome.
SCTC-Kimberly Dickey
SCTC-Kimberly Dickey
17:16 27 Oct 20
I'm not a Virgina resident and had found this firm through Google. I have a traffic violation case in tennessee and was desperate to get awnsers. This law office's staff was so helpful even though I wasn't able to even be a client, I believe the person who awnsered was Ashley. After their direction on finding another attorney and my case I was able to push my court date back and will be able to find someone to represent me.I'm not even a client, they didn't have to help me at all! I just wish they practiced in the tri cities area! Would recommend this group!
Benjamin Smith
Benjamin Smith
18:34 22 Oct 20
I contacted the affordable Law Offices of Mark T Hunt regarding a ticket I received. They requested certain documents from me, went to court on my behalf and got the ticket dismissed! The entire process was easy, fast and efficient. When I emailed or texted them their response time was impeccable!I would HIGHLY recommend them if you are looking for a professional attorney!
Davina Waller
Davina Waller
16:41 22 Oct 20
Under the circumstances that I had to have an encounter with Mr. Hurt, if I needed another team to represent me, I wouldn't hesitate for a second. The sheer communication that I had with Ashley was phenomenal. I was informed every step of the way. I was directed to each step of the process. I thoroughly enjoyed working with this law firm and would HIGHLY reccomend them. They were able to have my ticket completely dropped with no points added. Thank you all so much for all your hard work you did for me.
Chris Sanders
Chris Sanders
16:56 21 Oct 20
Mark and his team were very professional and courteous. They done a excellent job with my traffic ticket. I would highly recommend them.
Shannon Hanes
Shannon Hanes
16:26 21 Oct 20
My son got a speeding ticket in Virginia going back to school in Alabama. We contacted Mark Hurts office and they were very responsive and handled the entire situation for us.
Mary Ellen Fennell
Mary Ellen Fennell
22:54 20 Oct 20
The Law Offices of Mark Hurt made the process of dismissing my ticket so effortless! They were told me all the steps I needed to take to make Mr. Hurt’s job easier, and he was able to dismiss my ticket! I’m so thankful I used Mark Hurt to represent me in court. I would highly recommend him to anyone I know.
Cristina Marie
Cristina Marie
16:33 15 Oct 20
Friendly. Efficient. Professional.I’m thankful!
Moody Witoutcoffee
Moody Witoutcoffee
03:56 09 Oct 20
Rafael Oliveira
Rafael Oliveira
11:13 06 Oct 20
Cleber Bandi
Cleber Bandi
00:06 06 Oct 20
Lindaura Williams
Lindaura Williams
23:47 05 Oct 20
Flavia Oliver
Flavia Oliver
14:48 05 Oct 20
T. O.
T. O.
19:55 03 Oct 20
anita R Oliveira
anita R Oliveira
15:25 03 Oct 20
I highly recommend anyone to choose The Law Offices of Mark T. Hurt for their issues! They were extremely nice, helpful, and professional, especially Courtney! Every question and concern was always answered. I am thankful for all their help!!
Brittany Gobble
Brittany Gobble
17:35 29 Sep 20
They were very helpful, and answered all of the questions I had, and got great results from my court hearing, I would highly recommend!
Bodie Breitbach
Bodie Breitbach
15:49 21 Sep 20
This law firm is the best of the best and Courtney was just wonderful in every aspect. Extremely helpful and answers every question and always willing to help! Mark Hurt and his crew are the best! Thank you all for helping my family in a very difficult time. Highly recommend.
Tony Statzer
Tony Statzer
14:41 17 Sep 20
Late in July I was charged with a reckless driving ticket in Greenville County, Virginia. I got caught going 83mph in a 55mph zone. It was my first offense on my driving record and I did not need a misdemeanor which could hurt my career. I was assured by Mrs Rhonda Hurt not to worry and that her team would take care of it. On my end, the only effort I put in was taking a 12 hour defensive driving course and sending her my driving record. Two months later, the result of my hearing was a reduction to a defective equipment/non driving violation with 0 points off my record. The other good part about this case was I did not have to go to court. In court fees I paid $68 and a fine of $78 for my ticket. Mrs. Rhonda and her team put together a miracle in that county and I cannot give her enough credit. I sincerely recommend this firm because I know they worked hard on my case and will do the same for you. Thank you again!
Marqus Keith
Marqus Keith
14:54 15 Sep 20
I highly recommend this law firm! Rhonda answered all my questions regarding social security questions and she put my nerves at ease! Im so thankful for her kind spirit and her honesty!
Catina Ratliff
Catina Ratliff
17:51 05 Sep 20
The law offices of mark hurt was very good to me and my family great people great service and great results courtney was our paralegal that presided over the case could not have asked for more to be done.
Danny Kiser
Danny Kiser
18:34 31 Aug 20
I got a traffic ticket while I traveled passing through VA in May.It is a big deal if you have the Law Section: 44-1/46/2-862 and speeding excess of 80 MPH in your ticket. It is a Criminal Misdemeanor Reckless Driving Charge!I saw Mark T. Hurt's Law office simple letter, I decided to give a call and get a free consultation.From the call, Rhonda provided a detail explaining the criminal charge of the Misdemeanor Reckless Driving ticket is about. She is a very caring and honest person, no sale pressure to me to take their law office at all.Once I decided to use their firm to represent me in court, it didn't take an hour, I was told totake some actions and wait for cout day to see the result. That is that simple and no worry at all. On the court date, I received text messages from lawyer's office. Guess what? The lawyer did a miraculous and fantastic job for me in the court.The Reckless Driving Misdemeanor ticket has been reduced to an Improper Driving traffic ticket.Thanks to Mark T. Hurt's Law office team! They are not only very professional and transparent but also does the best quality job you can find. I strongly recommend them to be your lawyer if you need one in VA.
C.Y. Kuan
C.Y. Kuan
01:07 23 Aug 20
Having landed a Reckless Driving (99 in a 65) on my way back to FL from WV, I came across this law firm when searching something along "best reckless driving lawyers Virginia."Mr. Hurt's firm dropped my "Criminal Misdemeanor" to an improper driving. Which from my understanding is right next to a normal speeding ticket.All expenses accounted (payment, court cost, fine), I'm out roughly $1,100 ; but I'd much rather pay that once today, than every six months to an insurance company for the next... God knows how many years. I am extremely grateful and overjoyed with my outcome.As far as speaking with the great ladies at these offices, everyone was always kind, quick, and considerate. They answered all my questions, explained all my options and possible outcomes. I had a clean record, and had now experience dealing with courts or lawyers, so their patience and knowledge was especially helpful. If I ever screw up again (I pray to God I don't) I hope it's in Virginia, so I can call upon Mr. Hurt's offices.
Nomadic Wolf
Nomadic Wolf
21:06 21 Aug 20
I would like to thank Hope for helping me get my SSDI. She was a true professional a great help with my success. great asset to the law firm and honest lady could not ask for anyone better. Thank You, David
David Harden
David Harden
21:17 20 Aug 20
I had a miracle outcome
jose feliz
jose feliz
22:14 18 Aug 20
I got stop in wyth county saw good reviews on Law of Mark, i can say i highly recomend them, got stop 79mph on a 60mph, they all i had to pay was a low amounth of $200 fine plus court cost $76 and they got me out with zero point infraction, if you looking for lawyer on traffic tickets here its the place to go with! Very professional and representatives will be there to help any time!
Brisio Gaza
Brisio Gaza
23:12 15 Aug 20
This law firm is the up most professional and highly knowledgeable in it's field of work. Courtney is awesome and a pleasure to work with she is the best at her job. We highly recommend this law firm!
Christy Statzer
Christy Statzer
02:52 11 Aug 20
Courtney Cormier and the law office, was amazing! Courtney was very efficient, timely, and responsive. I had an issue with a previous employee, but due to that, Mr. Hurt wanted to ensure that I was completely satisfied, so he made adjustments on his fee, just to make sure I was happy! You couldn't ask for a better paralegal or law office! I highly recommend this firm!
Jessica Ann Roberts
Jessica Ann Roberts
20:10 30 Jul 20
I called seeking help with a traffic ticket I received. I spoke to the legal assistant, Ashley and she was very helpful.
Nathan
Nathan
13:54 30 Jul 20
my Attorney Courtney Cormier was amazing and very helpful and patient with me and the case and always keep me updated on all the steps and procedures of the process i would definitely recommend her and this office they are amazing
Branden Lewis
Branden Lewis
15:24 21 Jul 20
These guys got my reckless driving charge of a 94 in 70 down to a improper driving. You won’t regret hiring them to help you out!
Haley Walser
Haley Walser
23:22 20 Jul 20
Great experience with Courtney Cormier! Thanks for the professional help!
Alisha Fagan
Alisha Fagan
16:26 20 Jul 20
Thank you for doing the best you guys did an amazing job with my case I appreciate everyone that worked on my case I definitely recommend this law firm!!
Abdullah Shaikh
Abdullah Shaikh
14:56 16 Jul 20
Great people! Very helpful and professional.
Heather Foster
Heather Foster
21:53 15 Jul 20
Wonderful, family oriented law firm. The staff are very attentive and courteous especially Courtney. I highly recommend this legal establishment!
Duane Cormier
Duane Cormier
17:25 15 Jul 20
Amazing group of people to work with Courtney is fantasticI would highly recommend this group
Kara Ginter-Hensley
Kara Ginter-Hensley
21:41 14 Jul 20
Great firm!! Diana will walk you through everything you need to take care of a traffic ticket.
Braden Alexander
Braden Alexander
19:28 14 Jul 20
They are very professional, and respectful with everybody, including one of his employees, Rafael
Flavia Oliver
Flavia Oliver
17:01 14 Jul 20
The personnel who work here are constiment professionals. Rhonda Hurt kept me abreast of all proceedings and changes without the need for me to follow up, allowing me to maintain a piece of mind knowing that the Law Offices of Mark T Hurt were on the job (Rhonda kept me up to date through text and e-mail).During the beginning of the COVID-19 outbreak all court dates were changed. I received a personalized letter from Mark assuring me that he and his team was on the job and was going to see my case through to the end while keeping me looped in.Thank you for all your help and persistence to see the great outcome I received.I highly recommend anyone to use the Law Offices of Mark T. Hurt for their issues!
Jon H
Jon H
11:34 13 Jul 20
They are a hard working team that care about their clients.
Frederick Baker II
Frederick Baker II
05:13 26 Jun 20
Fast, professional, and friendly. One of the best we have had for our family case and would HIGHLY recommend!!
Jonathan Mora
Jonathan Mora
19:13 04 May 20
I had a summons to court for reckless driving doing 82/70, and they took care of it without a problem and got it dismissed for me! They also work with you on your payments! Rhonda is the sweetest person I’ve ever spoke too, she worked with me and helped me tremendously! I highly recommend you choose this amazing and sweet firm to help your cases! ❤️
Aleah Nicole
Aleah Nicole
13:46 11 Apr 20