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 Harris Texas Pre-incorporation Agreement of Professional Corporation of Attorneys is a legal document that outlines the terms and conditions for establishing a professional corporation in the field of law in Harris County, Texas. This agreement is crucial for attorneys looking to form a practice as a corporation, as it sets the groundwork for the organization's structure, management, and shareholders' rights. Key terms and provisions typically included in the Harris Texas Pre-incorporation Agreement of Professional Corporation of Attorneys includes: 1. Purpose: This section defines the purpose and scope of the corporation's business. It specifies that the corporation will engage in the practice of law, providing legal services to clients in Harris County. 2. Shareholders: The agreement determines who the initial shareholders will be, their respective ownership percentages, and any restrictions or obligations related to share transfers. It may also outline the process for admitting new shareholders and the requirements for maintaining active shareholder status. 3. Management and Governance: This section establishes the structure of the corporation's management and decision-making processes. It outlines the roles and responsibilities of officers, such as the president, vice president, secretary, and treasurer, and may include provisions regarding their election, removal, and compensation. 4. Board of Directors: The agreement may establish a board of directors and define its powers, composition, and procedures for appointment or election. It may also outline the board's authority to make decisions on behalf of the corporation, such as approving major financial transactions or hiring key personnel. 5. Professional Services: This section addresses the professional services to be provided by the corporation. It may detail the specific areas of law the corporation will focus on and any restrictions or limitations in practice areas. 6. Non-Compete and Confidentiality: The agreement may include non-compete and non-solicitation clauses, limiting the shareholders' ability to engage in similar legal practice outside the corporation or poach clients after leaving the corporation. Confidentiality provisions may also be included to protect sensitive client information. 7. Dissolution: This provision outlines the conditions under which the corporation may be dissolved, such as bankruptcy, unanimous shareholder agreement, or expiration of a specified term. It may also specify the distribution of assets and liabilities upon dissolution. Different variations or types of the Harris Texas Pre-incorporation Agreement of Professional Corporation of Attorneys may exist depending on the specific needs and preferences of the attorneys involved. These variations might include additional provisions related to indemnification, insurance coverage, tax considerations, or shareholder dispute resolution mechanisms. It's essential for attorneys to consult with legal professionals well-versed in Texas corporate law to ensure the agreement meets their specific requirements and adheres to applicable regulations.The Harris Texas Pre-incorporation Agreement of Professional Corporation of Attorneys is a legal document that outlines the terms and conditions for establishing a professional corporation in the field of law in Harris County, Texas. This agreement is crucial for attorneys looking to form a practice as a corporation, as it sets the groundwork for the organization's structure, management, and shareholders' rights. Key terms and provisions typically included in the Harris Texas Pre-incorporation Agreement of Professional Corporation of Attorneys includes: 1. Purpose: This section defines the purpose and scope of the corporation's business. It specifies that the corporation will engage in the practice of law, providing legal services to clients in Harris County. 2. Shareholders: The agreement determines who the initial shareholders will be, their respective ownership percentages, and any restrictions or obligations related to share transfers. It may also outline the process for admitting new shareholders and the requirements for maintaining active shareholder status. 3. Management and Governance: This section establishes the structure of the corporation's management and decision-making processes. It outlines the roles and responsibilities of officers, such as the president, vice president, secretary, and treasurer, and may include provisions regarding their election, removal, and compensation. 4. Board of Directors: The agreement may establish a board of directors and define its powers, composition, and procedures for appointment or election. It may also outline the board's authority to make decisions on behalf of the corporation, such as approving major financial transactions or hiring key personnel. 5. Professional Services: This section addresses the professional services to be provided by the corporation. It may detail the specific areas of law the corporation will focus on and any restrictions or limitations in practice areas. 6. Non-Compete and Confidentiality: The agreement may include non-compete and non-solicitation clauses, limiting the shareholders' ability to engage in similar legal practice outside the corporation or poach clients after leaving the corporation. Confidentiality provisions may also be included to protect sensitive client information. 7. Dissolution: This provision outlines the conditions under which the corporation may be dissolved, such as bankruptcy, unanimous shareholder agreement, or expiration of a specified term. It may also specify the distribution of assets and liabilities upon dissolution. Different variations or types of the Harris Texas Pre-incorporation Agreement of Professional Corporation of Attorneys may exist depending on the specific needs and preferences of the attorneys involved. These variations might include additional provisions related to indemnification, insurance coverage, tax considerations, or shareholder dispute resolution mechanisms. It's essential for attorneys to consult with legal professionals well-versed in Texas corporate law to ensure the agreement meets their specific requirements and adheres to applicable regulations.
