How can attorneys provide due diligence in business transactions?

When businesses engage in transactions with consumers or other businesses, they often first perform due diligence. During due diligence, businesses investigate various aspects of the transaction and the transaction partner.

Because due diligence involves many legal issues, due diligence is often performed by attorneys and other outside experts. These experts have the legal and financial knowledge necessary for investigating complicated transactions.

If your business needs legal help with due diligence, contact the Des Moines business attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

When can investors sue a company?

When individuals or companies invest in another business, they may expect their invested business to maximize the value of their investment. For public companies, the CEO and board of directors have a fiduciary duty to maximize shareholder value.

Private companies, however, have less of an obligation to maximize investor value. That being said, private companies may be sued for misusing investor funds. For instance, they may be sued for spending investor funds on expenses that are not related to the business.

If you or anyone you know has questions about the rights of investors, contact the Iowa business attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

What is D&O insurance coverage?

Many businesses, especially corporations, acquire insurance coverage for their directors and officers. This insurance coverage is typically known as director and officer coverage.

In most cases, this insurance protects directors and officers from the risk of personal liability for the services they provide to the business. This insurance will provide coverage in one of the following two ways:

  • it will compensate the business for any indemnification or advanced expenses for officers and executives
  • it will compensate the officers or executives directly

Because indemnification and D&O insurance coverage deal with a number of legal contingencies, many businesses consult outside attorneys to help them in these matters. If your business has such questions, contact the Iowa indemnification attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

Cedar Rapids to receive $38 million government economic development grant

Cedar Rapids, Iowa will receive $38 million in U.S. Economic Development Administration grants. The grants are intended to assist in the economic recovery of Cedar Rapids, which suffered significant damage caused by 2008 flooding.

The majority of the grant will fund a new downtown events center, while $3 million will fund construction of a Regional Commerce Center and Small Business Incubator. The grant will likely create new job opportunities for many Iowans.

If your company has questions about the legal implications of securing government funding, contact the Iowa business attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

How do businesses maintain their legal entity status?

When a new business entity is formed, the owners typically have multiple business entity options. The business can be setup as a partnership, limited liability company, corporation, or many other options.

Once the entity is setup, it generally does not have to do much to maintain its business status, except for filing tax returns that comply with rules associated with that entity type. In some cases, however, businesses may be required to keep minutes and file reports to maintain its entity status.

If your company has questions about maintaining an entity status, contact the Des Moines business attorneys of LaMarca Law Group, P.C., at 877-217-2600.

Can you reserve a name for your future business?

When individuals consider forming a business, one important decision they must make is choosing a name for the business. Even if the business has not been formed, this name may be reserved for future use.

To reserve a name, individuals can typically submit an application to the Secretary of State. Assuming the name is available, that name will be reserved for up to 120 days and may also be extended for additional 120 days of use.

Completing this application properly, however, could be aided by a lawyer with business law experience. If you have legal questions about starting your own business, contact the Iowa business formation attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

Can forming a corporation protect individuals from personal liability?

One of the advantages of forming a corporation is that the founders can be protected from personal liability. This means that creditors and investors cannot go after the executives’ personal assets if the company files for bankruptcy or is sued.

To gain corporate status, individuals must file their startup as a corporation on their tax return. To maintain this status, the company must act like a corporation with a corporate board and meetings.

If you or anyone you know has questions about filing for bankruptcy, contact the Des Moines business lawyers of LaMarca Law Group, P.C., at (877) 327-2600.

Fire causes significant damage to Iowa propane business

A fire caused significant damage to an Iowa propane business late last week. According to police reports, the fire occurred at The Little Welding Store in Akron, Iowa.

While police authorities are unsure what caused the fire, the fire set off explosions in multiple small propane tanks. However, fire officials were able to keep the fire from spreading to larger propane tanks nearby.

If your are facing business litigation as a result of a business fire, contact the Des Moines business lawyers of LaMarca Law Group, P.C., at (877) 327-2600.

Republican gubernatorial candidate calls for income tax cut

The Republican candidate for governor has proposed cutting business income taxes by half. According to Republican press release, the cut would be intended to improve Iowa’s economy.

Terry Branstad, who is a former four-term governor, said the cut in taxes would make Iowa more competitive. The increased competition could increase the attractiveness of Iowa to other businesses.

If you or anyone you know has legal questions about your business income taxes, contact the Des Moines business attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

The business consequences of a breach of warranty

When businesses make purchases, some of their purchases come with warranties. These warranties act as guarantees that certain qualities of an asset and sometimes provide repairs if a product or service fails.

A breach of warranty occurs if the seller does not fulfill its end of the warranty obligation. For instance, if a company purchases a vehicle and the vehicle does not work as it should, then the company may be able to execute the warranty. If the seller refuses to honor the warranty, they may have committed a breach of warranty.

If your business has a breach of warranty case, contact the Des Moines business lawyers of LaMarca Law Group, P.C., at (877) 327-2600.

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