Gov. Culver creates energy consulting firm

Former Iowa Governor Chet Culver recently announced the formation of an energy consulting group called “Chet Culver Group.”  Culver has described the business’s main functions as providing energy management consulting to individuals, private companies, and public entities.  Specifically, Culver statde that he hopes Chet Culver Group will be able to help small business and farms develop a less expensive way to implement and take advantage of renewable energy.

The group already has its first client, a small wind turbine producer in Austin, Texas called Viryd Technologies.  In addition, Culver is expected to introduce partners to the business.  In addition to focusing efforts on marketing, small businesses, and public policy, Culver plans to use the group for advocacy of renewable energy.

Contact the Des Moines business formation lawyers of LaMarca Law Group, P.C. at (877) 327-2600 today, if you or someone you know is considering starting a business or franchise.



Several new businesses open in Indianola

According to the DesMoines register, several new businesses recently opened in Indianola.  The most notable business formation was Poindexter Flooring’s move into the former Homes Chevrolet car dealership located just north of Indianola.  Poindexter Flooring executives describe the company as a “full service commercial flooring contractor”.  The new location allows the business’ office and warehouse to be in the same place.

Other new businesses in the Indianola area included a Casey’s General store, several salons and spas, and a weight loss studio.  Several hair stylists and cosmetologists came together to form their own salons including Tossled Salon, One-Eightly Salon and Spa and N.Y.U.T. Clothing and Salon.  The weight loss studio, Affordable Elegance, is an individually owned business that uses an infared sauna and toning tables to facilitate weight loss.

If you or someone you know wants to start a business and has questions about the different ways to go about business formation, contact the Des Moines business formation attorneys of LaMarca Law Group, P.C. at (877) 327-2600 today.



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.



The risks of borrowing from family members to start a business

Many individuals who choose to start a business have trouble finding startup capital. Many significant investors will not risk investing in a startup, and most banks and other lending institutions will be unwilling to make significant loans to new businesses.

For that reason, many individuals turn to family members for loans and investment capital. In either case, individuals and their family members may want to create a formal contract. Such a formal contract will outline the terms of the agreement and account for any reasonable contingencies.

If you or anyone you know has questions about writing up a formal contract to start a business, contact the Des Moines business formation 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 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.



What is the meaning of the word escrow?

Real estate agents and lawyers often use language that only they can understand. Part of this language is the shorthand word escrow.

Escrow is a descriptive term for an account that is created to retain or reserve certain funds and expenses. These funds and expenses often include property taxes, home insurance, and closing costs.

If you have any questions about escrow accounts, contact the Iowa real estate transactions lawyers of LaMarca Law Group, P.C., at (877) 327-2600.



TV Contract Dispute May Leave Some Iowans Without Programming

A contract dispute between Mediacom Communications and Sinclair Broadcast Company may result in the disruption of service for many Iowans. Unless the dispute is resolved, some viewers may be unable to watch the January 5th telecast of Iowa versus Georgia Tech in the Orange Bowl, as well as popular programs like “American Idol” and “24” on Fox.

Sources claim that the companies are battling over how much Mediacom should pay Sinclair to broadcast the group’s channels. Public officials in Iowa have asked the FCC to intervene to prevent a disruption in service.

The Des Moines business attorneys of LaMarca Law Group, P.C. have experience dealing with contract disputes and other business claims. If you need assistance with a contract dispute, contact us at (877) 327-2600 today.

 



Which entity type is right for your company?

When an invididual or group of people decide to form a business, they often must choose an entity type. On the general level, the people starting the business will either decide to form a partnership or corporation.

If they choose a partnership, then they have the advantage of being a pass-through entity, which means that income taxes pass through to the personal level. However, depending on the type of partnership, some of the partners may be liable for debt obligations. 

If they choose a corporation, then they will all have the benefit of limited liability. However, their business activities will likely be taxed twice, once on the corporation level and once on the individual level for dividend receipts. 

If your business is having trouble deciding an entity type, contact the Iowa business formation lawyers of LaMarca Law Group, P.C., at (877) 327-2600. 



The legal implications of a business formation

When people decide to form a business, then they should consider some important legal implications. One of the most important is the issue of limited liability. 

Under some types of entities, owners of the business have limited liability. This means that their personal assets are likely protected against business creditors. Such entities include corporations, whereby the shareholders are protected against creditor's calls on debt.

If you or anyone you know is considering forming a buisness, contact the Des Moines business lawyers of LaMarca Law Group, P.C., at (877) 327-2600. 



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