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 Texas Pre-incorporation Agreement of Professional Corporation of Attorneys is a legal document outlining the terms and conditions that must be met in order to establish a professional corporation for attorneys in the state of Texas. This agreement is an essential requirement for attorneys who wish to form a legal entity to practice law collectively, providing a range of legal services to clients. The purpose of the Texas Pre-incorporation Agreement of Professional Corporation of Attorneys is to clearly define the roles and responsibilities of the attorneys involved in establishing the professional corporation. It covers crucial aspects such as the corporation's name, location, objectives, and practice areas. This agreement helps attorneys protect their professional interests while adhering to the legal requirements set forth by the Texas State Bar and the Texas Business Organizations Code (TBC). Different types of Texas Pre-incorporation Agreement of Professional Corporation of Attorneys can be categorized based on specific practice areas or legal specialties. For example, there may be separate agreements for attorneys specializing in family law, corporate law, intellectual property law, or personal injury law. These agreements would include clauses and provisions tailored to the specific requirements and regulations associated with each practice area. The content of the Texas Pre-incorporation Agreement of Professional Corporation of Attorneys typically includes the following key components: 1. Name and Location: Clearly state the name under which the professional corporation will operate and its registered address in Texas. 2. Purpose and Objectives: Define the professional corporation's purpose, such as providing legal services, client representation, consultations, or any other legally permitted activities. 3. Shareholders: Identify the initial shareholders and their respective ownership percentages in the professional corporation. Outline the rules for adding or removing shareholders in the future. 4. Officers and Directors: Specify the roles and responsibilities of the officers and directors within the professional corporation. This may include positions such as president, secretary, treasurer, or managing partner. 5. Practice Areas: Detail the legal fields in which the professional corporation intends to practice, ensuring compliance with applicable laws and regulations. 6. Voting Rights: Establish the voting rights of shareholders and the process for making decisions related to the professional corporation's operations. 7. Revenue and Profit Sharing: Describe how revenues and profits will be shared among the shareholders, including any provisions for bonuses, distributions, or compensations. 8. Non-Compete and Non-Solicitation: Include clauses that prevent shareholders from competing against the professional corporation or soliciting its clients for a specified period. 9. Dissolution and Termination: Outline the process for dissolving the professional corporation, including the distribution of assets and liabilities among the shareholders. While the exact content may vary based on the specific requirements of the attorneys involved and the nature of their practice area, the Texas Pre-incorporation Agreement of Professional Corporation of Attorneys provides a comprehensive framework for attorneys to establish a legal entity that can effectively operate and offer legal services within the state of Texas.The Texas Pre-incorporation Agreement of Professional Corporation of Attorneys is a legal document outlining the terms and conditions that must be met in order to establish a professional corporation for attorneys in the state of Texas. This agreement is an essential requirement for attorneys who wish to form a legal entity to practice law collectively, providing a range of legal services to clients. The purpose of the Texas Pre-incorporation Agreement of Professional Corporation of Attorneys is to clearly define the roles and responsibilities of the attorneys involved in establishing the professional corporation. It covers crucial aspects such as the corporation's name, location, objectives, and practice areas. This agreement helps attorneys protect their professional interests while adhering to the legal requirements set forth by the Texas State Bar and the Texas Business Organizations Code (TBC). Different types of Texas Pre-incorporation Agreement of Professional Corporation of Attorneys can be categorized based on specific practice areas or legal specialties. For example, there may be separate agreements for attorneys specializing in family law, corporate law, intellectual property law, or personal injury law. These agreements would include clauses and provisions tailored to the specific requirements and regulations associated with each practice area. The content of the Texas Pre-incorporation Agreement of Professional Corporation of Attorneys typically includes the following key components: 1. Name and Location: Clearly state the name under which the professional corporation will operate and its registered address in Texas. 2. Purpose and Objectives: Define the professional corporation's purpose, such as providing legal services, client representation, consultations, or any other legally permitted activities. 3. Shareholders: Identify the initial shareholders and their respective ownership percentages in the professional corporation. Outline the rules for adding or removing shareholders in the future. 4. Officers and Directors: Specify the roles and responsibilities of the officers and directors within the professional corporation. This may include positions such as president, secretary, treasurer, or managing partner. 5. Practice Areas: Detail the legal fields in which the professional corporation intends to practice, ensuring compliance with applicable laws and regulations. 6. Voting Rights: Establish the voting rights of shareholders and the process for making decisions related to the professional corporation's operations. 7. Revenue and Profit Sharing: Describe how revenues and profits will be shared among the shareholders, including any provisions for bonuses, distributions, or compensations. 8. Non-Compete and Non-Solicitation: Include clauses that prevent shareholders from competing against the professional corporation or soliciting its clients for a specified period. 9. Dissolution and Termination: Outline the process for dissolving the professional corporation, including the distribution of assets and liabilities among the shareholders. While the exact content may vary based on the specific requirements of the attorneys involved and the nature of their practice area, the Texas Pre-incorporation Agreement of Professional Corporation of Attorneys provides a comprehensive framework for attorneys to establish a legal entity that can effectively operate and offer legal services within the state of Texas.
