FAQs
- What is the difference between criminal and civil law?
- How do I name my new business?
- How do I know if an LLC is right for me?
- What is probate?
- Is it necessary for a lawyer to draft my will?
- What can I do if my auto manufacturer wants to open a new dealership in my area?
- What is the difference between an LLC and a partnership?
What is the difference between criminal and civil law?
Criminal law governs an individual’s relationship to the state. Criminal litigation involves the rights of an accused and the criminal process and the main purpose of criminal law is to set forth the punishment for criminal offenses. If one of your employees embezzles your company’s money, that is a criminal offense.
Civil law governs individuals. If you and your business partner, for instance, have a breach of contract, this is a civil law matter.
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How do I name my new business?
The name depends on your business structure. For instance, if you are the sole owner of your business, the legal name of your business is your full name. If you have a partnership, the legal name is either the name designated in your partnership agreement or the last names of the partners. If, your new business is either a corporation or an LLC, your legal name is the name you registered with the state of Iowa. If the name is fictitious—one that is different from your personal name, the names of your partners or the officially registered name of your LLC or corporation—as your “doing business as” (DBA) name, you can search to see if the name you want to use is available in the Iowa state database.
You can also reserve a business name with the Iowa Secretary of State.
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How do I know if an LLC is right for me?
If you are concerned about personal exposure to lawsuits or debts, the limited liability company (LLC) structure can protect you from potential claims against your business. However, not all businesses are allowed to operate as LLCs. Arenson & Maas, PLC can help you decide on the business structure that meets your goals.
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What is probate?
Probate is the legal process of administering an estate after someone dies. In this way, your property passes directly to your beneficiaries. Probate includes the following:
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Is it necessary for a lawyer to draft my will?
While it may seem straightforward for you to draft your will yourself, personally-drafted wills tend to be incomplete and are, therefore, invalid under Iowa state law. Because Arenson & Maas PLC is well acquainted with Iowa’s laws, we can legally draft a will that is valid in our state.
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What can I do if my auto manufacturer wants to open a new dealership in my area?
Auto dealership franchise law is one of Arenson & Maas, PLC’s concentrations. Under Iowa’s General Business Franchise Act, the franchisor could be charged with encroachment and you could be due monetary damages. However, we would need to discuss the specific situation with you to conduct due diligence research into the situation and recommend a course of action.
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What is the difference between an LLC and an LLP?
In a limited liability company (LLC), owners, known as members, are not personally liable for your company’s debts and liabilities without a separate agreement. In a partnership, the partners of a business do not receive this kind of protection unless the agreement designates limited liability. Owners of an LLC must file articles of organization with the Iowa Secretary of State and comply with Iowa’s filing requirements before opening the business. A partnership does not require this level of paperwork or payment of fees before operations. Both forms of business structure report business income or losses on their personal tax returns.
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