Is Your Business Prepared For A Legal Challenge?

Every business is built on contracts, whether it is a retail operation, a construction firm or a restaurant. From the very beginning, business law is integral to your business’s success, and it is crucial that a successful business has the right legal underpinnings if it is to be profitable.

At Deal, Moseley & Smith LLP, our attorneys have over a century of combined legal experience. We use this depth of knowledge to craft a legal plan that is specific to your business’s needs. Contact us today at 828-263-4721 to speak with our team.

We Believe In Comprehensive Legal Service

We understand how people and businesses in the Blue Ridge Mountains work, and we are prepared to offer you an extensive array of legal services informed by this knowledge. We provide businesses with trustworthy and efficient representation when:

• Forming a business and selecting the relevant business entity
• Negotiating shareholder agreements and co-owner agreements
• Drafting business contracts, including vendor contracts and leasing agreements
• Disputing breach of contract and other legal issues
• Long-term business succession planning and business sales and acquisitions

Equip your business for long-term success by working with a community-centered law firm. Our attorneys provide top-tier business law representation with a home-town feel. We are happy to ask: how can we support your entrepreneurial goals?

North Carolina Business Law FAQs

Here are a few of the questions we often hear:

What is the best legal entity for my new business?

The ideal business framework is tailored to your individual objectives, tax considerations and anticipated growth. Each entity type offers different advantages:

• Limited liability company (LLC): Provides personal asset protection with flexible tax options. Businesses have the option to be structured for tax purposes as a sole proprietorship, partnership, S corporation or C corporation. LLCs require less paperwork and formal structure than corporations while still protecting your personal assets from business debts.
• S corporation: Allows profits and losses to pass through to your personal tax return, avoiding double taxation. Suitable for businesses with moderate profits where owners want to minimize self-employment taxes through reasonable salary requirements.
• C corporation: Best for businesses seeking investment capital or planning significant growth. While subject to double taxation, C corporations can deduct employee benefits and retain earnings at lower corporate tax rates.
• Sole proprietorship/partnership: Simplest structures, but offer no personal liability protection. Your personal assets remain at risk for business obligations.

North Carolina law requires most entities to file annual reports and maintain registered agents, but the compliance requirements vary significantly between structures.

What should the terms of a business lease be?

A solid commercial lease outlines far more than just monthly rent. Key provisions should include:

• Lease duration
• Renewal terms
• Responsibilities for property upkeep, care, assessments and insurance coverage
• Division of utilities

Commercial leases are not subject to many of the protections that apply to residential leases, so it is essential to clearly understand what you are agreeing to, especially when it comes to default terms or penalties. Also, consider whether you can sublease or assign the lease if your business grows or shifts direction.

What can a shareholder agreement do for me?

A shareholder agreement sets expectations among business owners and helps prevent disputes later. It can outline how shares are transferred, how decisions are made, what happens if an owner leaves, and how profits and responsibilities are divided. These agreements are especially important for closely held corporations or family-run businesses.

Without one, the default corporate statutes apply and those might not match your intentions. A clear agreement acts like a roadmap, giving structure to relationships and helping the business stay focused on long-term goals.

Give Your Business The Benefit Of Foresight

Every business has legal challenges. Prepare for what you can in advance and equip yourself for the unexpected. Schedule a consultation by emailing our office or contacting us at 828-263-4721.