A corporation may be organized for the business of conducting a profession. These are known as professional corporations. Doctors, attorneys, engineers, and CPAs are the types of profes¬sionals who may form a professional corporation. Usually there is a designation P.A. or P.C. after the corporate name in order to show that this is a professional association or professional corporation.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The Mississippi Pre-incorporation Agreement of Professional Corporation of Attorneys is a legal document that outlines the necessary arrangements for forming a professional corporation (PC) specifically for attorneys in the state of Mississippi. This agreement is crucial for attorneys who wish to establish a corporate structure for their legal practices, providing them with various benefits and legal protections. In Mississippi, there are a few different types of pre-incorporation agreements that attorneys can consider when forming their professional corporation: 1. General Pre-incorporation Agreement: This is the most common type of pre-incorporation agreement used by attorneys. It establishes the basic terms and conditions of the professional corporation, including the name, purpose, and duration of the corporation, as well as the initial capital contribution, ownership structure, and management provisions. 2. Business Structure-Specific Agreements: Depending on the specific type of legal practice, attorneys may choose to enter into pre-incorporation agreements that are tailored to their business structure. For instance, solo practitioners may opt for a unique agreement, while partnerships or larger law firms may require more detailed provisions. 3. Non-Compete and Non-Solicit Clauses: Attorneys forming a professional corporation may include non-compete and non-solicit clauses within the pre-incorporation agreement to protect the corporation's interests. These clauses prohibit departing attorneys from competing directly with the corporation or soliciting its clients for a certain period after leaving the firm. 4. Shareholder Agreements: In cases where the professional corporation has multiple shareholders, it is advisable to create a separate shareholder agreement as an appendix to the pre-incorporation agreement. This agreement outlines the rights and responsibilities of each shareholder, including the distribution of profits, decision-making processes, and dispute resolution mechanisms. 5. Buy-Sell Agreements: Buy-sell agreements are often included in the pre-incorporation agreement to address how shares of the corporation can be bought or sold in the event of a departing attorney or other triggering events. These agreements establish clear guidelines for the valuation, purchase, sale, or transfer of shares, ensuring a smooth transition and fair treatment of all parties involved. The Mississippi Pre-incorporation Agreement of Professional Corporation of Attorneys is a legally binding document that must comply with the state's laws and regulations regarding professional corporations. It is crucial for attorneys to consult with a knowledgeable attorney or legal professional when drafting or executing this agreement to ensure compliance and clarity.The Mississippi Pre-incorporation Agreement of Professional Corporation of Attorneys is a legal document that outlines the necessary arrangements for forming a professional corporation (PC) specifically for attorneys in the state of Mississippi. This agreement is crucial for attorneys who wish to establish a corporate structure for their legal practices, providing them with various benefits and legal protections. In Mississippi, there are a few different types of pre-incorporation agreements that attorneys can consider when forming their professional corporation: 1. General Pre-incorporation Agreement: This is the most common type of pre-incorporation agreement used by attorneys. It establishes the basic terms and conditions of the professional corporation, including the name, purpose, and duration of the corporation, as well as the initial capital contribution, ownership structure, and management provisions. 2. Business Structure-Specific Agreements: Depending on the specific type of legal practice, attorneys may choose to enter into pre-incorporation agreements that are tailored to their business structure. For instance, solo practitioners may opt for a unique agreement, while partnerships or larger law firms may require more detailed provisions. 3. Non-Compete and Non-Solicit Clauses: Attorneys forming a professional corporation may include non-compete and non-solicit clauses within the pre-incorporation agreement to protect the corporation's interests. These clauses prohibit departing attorneys from competing directly with the corporation or soliciting its clients for a certain period after leaving the firm. 4. Shareholder Agreements: In cases where the professional corporation has multiple shareholders, it is advisable to create a separate shareholder agreement as an appendix to the pre-incorporation agreement. This agreement outlines the rights and responsibilities of each shareholder, including the distribution of profits, decision-making processes, and dispute resolution mechanisms. 5. Buy-Sell Agreements: Buy-sell agreements are often included in the pre-incorporation agreement to address how shares of the corporation can be bought or sold in the event of a departing attorney or other triggering events. These agreements establish clear guidelines for the valuation, purchase, sale, or transfer of shares, ensuring a smooth transition and fair treatment of all parties involved. The Mississippi Pre-incorporation Agreement of Professional Corporation of Attorneys is a legally binding document that must comply with the state's laws and regulations regarding professional corporations. It is crucial for attorneys to consult with a knowledgeable attorney or legal professional when drafting or executing this agreement to ensure compliance and clarity.
