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Business owners in Maryland often face challenges navigating the process of forming, structuring, or merging corporate entities. Mistakes during these processes can lead to significant disadvantages for your business.
When you are involved in a corporate dispute or acquisition or need assistance with your business’s formation and structure, a Maryland corporate law attorney could offer the legal guidance you need to resolve issues efficiently and productively. A knowledgeable lawyer like Kevin Goldberg could provide connections to legal counsel to help you traverse an array of issues and position your business for long-term growth. Goldberg can also guide you to better understand the Maryland State Department of Assessment and Taxations Website and how to use its various databases to locate corporations and resident agents to accept service of process in Maryland. A Maryland corporate law attorney can also help you decide whether to be a S- Corp, C-Corp, Limited Liability Company, Sole Proprietorship and/or other corporate entity.
There are several reasons a business could benefit from competent corporate representation. Some of the more challenging components of operating a business include asserting shareholder rights and responsibilities, negotiating and defending against civil suits, and creating a clear roadmap of corporate procedures. In addition to state laws governing the formation of corporate entities, businesses may also need to consider Federal Securities laws, and even NYSE and NASDAQ regulatory compliance.
A failure to account for all legal requirements and elements of a successful business enterprise may lead to substantial losses. Failing to take the appropriate action with regard to a corporate entity could lead to:
A negligent officer, stockholder, or other party found liable in a corporate dispute could be held personally responsible for monetary losses they cause to a business. A Maryland corporate lawyer could identify all internal and business-related issues, implement operative tactics, and pursue all remedies and damages available to the corporation or aggrieved party. Sometimes Director and Officer Liability Insurance policies (Known as “D&O Policies) provider insurance coverage to directors and officers for these disputes.
Maryland’s Corp & Assn. Code, Title 2, generally lays out the requirements for the formation and governance of corporate entities. A corporation may be formed in Maryland by filing Articles of Incorporation with the Secretary of State that must include a corporate name and address, the name and address of the incorporator, a resident agent name, a director, and three officers. An experienced attorney could provide further information about the necessary practice documents, court filings, and compliance credentials for forming a corporate entity in Maryland.
A corporate entity or stockholder that experiences losses stemming from a business dispute may be eligible to pursue solutions or relief. A breach of corporate fiduciary duty or other corporate violation may result in:
Other remedies in corporate disputes may include reformation or restructuring. Anyone considering taking legal action over a business dispute could benefit from the advice of a lawyer well-versed in corporate structures, conflict of interests, and derivative suits. A Maryland attorney could identify applicable corporate and state business laws as well as all remedies an entity or stockholder may have available.
If you are an officer or stockholder of a corporation, you have a vested interest in the well-being of this enterprise. When you are involved in a legal dispute or want to form a business for the first time, an attorney could offer an in-depth review of your case, provide initial legal advice, and take the actions necessary to achieve a positive outcome. Call attorney Kevin Goldberg today to set up your initial consultation with a Maryland corporate law attorney.