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.
Travis Texas Pre-incorporation Agreement of Professional Corporation of Attorneys is a legal document that outlines the terms and conditions for establishing a professional corporation of attorneys in the Travis County area of Texas. This agreement serves as a pre-incorporation agreement, which means it is drafted and executed before the actual process of incorporation takes place. The purpose of this agreement is to define the rights, obligations, and responsibilities of the attorneys involved in forming the professional corporation. It outlines the specific provisions related to the corporate structure, governance, management, and operation of the corporation. The agreement is designed to ensure compliance with state laws, regulations, and licensing requirements that govern the establishment and operation of professional corporations in Texas. Some key elements covered in the Travis Texas Pre-incorporation Agreement of Professional Corporation of Attorneys includes: 1. Identification of the parties involved: The agreement clearly identifies the attorneys who are contributing their legal services to the corporation and becoming shareholders. 2. Corporate structure: It outlines the intended structure of the corporation, including the number of shareholders, authorized capital, and any specific requirements for professional corporations in Travis County. 3. Shareholder rights and obligations: This agreement defines the rights and obligations of each shareholder, including voting rights, decision-making processes, and restrictions on transfer of shares. 4. Management and operation: It sets out the procedures for electing officers, the role of the board of directors, and the responsibilities of each officer. It may also include provisions regarding the hiring of non-attorney employees and their roles within the corporation. 5. Financial matters: The agreement addresses matters related to capital contributions, allocation and distribution of profits and losses, and rules for financial reporting and auditing. 6. Dissolution and termination: It lays out the procedures and conditions for dissolution or termination of the corporation, including the distribution of assets and liabilities. It is essential to note that there may be different types of Travis Texas Pre-incorporation Agreement of Professional Corporation of Attorneys, depending on the specific needs and preferences of the attorneys involved. These variations could include specific clauses related to non-compete agreements, provisions for arbitration or mediation in case of disputes, or even industry-specific regulations that must be adhered to. Overall, the Travis Texas Pre-incorporation Agreement of Professional Corporation of Attorneys is a critical document that establishes the foundation for a professional corporation of attorneys in Travis County. By clearly defining the rights, obligations, and operating procedures of the shareholders, this agreement ensures a smooth and legally compliant establishment and operation of the corporation.Travis Texas Pre-incorporation Agreement of Professional Corporation of Attorneys is a legal document that outlines the terms and conditions for establishing a professional corporation of attorneys in the Travis County area of Texas. This agreement serves as a pre-incorporation agreement, which means it is drafted and executed before the actual process of incorporation takes place. The purpose of this agreement is to define the rights, obligations, and responsibilities of the attorneys involved in forming the professional corporation. It outlines the specific provisions related to the corporate structure, governance, management, and operation of the corporation. The agreement is designed to ensure compliance with state laws, regulations, and licensing requirements that govern the establishment and operation of professional corporations in Texas. Some key elements covered in the Travis Texas Pre-incorporation Agreement of Professional Corporation of Attorneys includes: 1. Identification of the parties involved: The agreement clearly identifies the attorneys who are contributing their legal services to the corporation and becoming shareholders. 2. Corporate structure: It outlines the intended structure of the corporation, including the number of shareholders, authorized capital, and any specific requirements for professional corporations in Travis County. 3. Shareholder rights and obligations: This agreement defines the rights and obligations of each shareholder, including voting rights, decision-making processes, and restrictions on transfer of shares. 4. Management and operation: It sets out the procedures for electing officers, the role of the board of directors, and the responsibilities of each officer. It may also include provisions regarding the hiring of non-attorney employees and their roles within the corporation. 5. Financial matters: The agreement addresses matters related to capital contributions, allocation and distribution of profits and losses, and rules for financial reporting and auditing. 6. Dissolution and termination: It lays out the procedures and conditions for dissolution or termination of the corporation, including the distribution of assets and liabilities. It is essential to note that there may be different types of Travis Texas Pre-incorporation Agreement of Professional Corporation of Attorneys, depending on the specific needs and preferences of the attorneys involved. These variations could include specific clauses related to non-compete agreements, provisions for arbitration or mediation in case of disputes, or even industry-specific regulations that must be adhered to. Overall, the Travis Texas Pre-incorporation Agreement of Professional Corporation of Attorneys is a critical document that establishes the foundation for a professional corporation of attorneys in Travis County. By clearly defining the rights, obligations, and operating procedures of the shareholders, this agreement ensures a smooth and legally compliant establishment and operation of the corporation.
