Business Law

Business Law

About Giddens & Gatton Law, P.C.

The Law Office of George “Dave” Giddens, P.C. began in 1997 as a solo practice with an emphasis on bankruptcy. Since then, our firm has grown into a team of five attorneys and is now known as Giddens & Gatton Law, P.C..

Giddens & Gatton Law offers comprehensive legal services to clients throughout New Mexico and the Southwest in bankruptcy, bank collections, business law, litigation, construction law, foreclosures, real-estate transactions, and employment law on behalf of employers.

At Giddens & Gatton Law, PC, we offer “Expertise with Compassion”. What that means is, we consider taking care of our clients to be just as important as executing the legal aspects of their cases. We carry out this approach from the minute clients make their first contact with our firm and maintain this standard until the case is complete. There are no “cookie cutter” cases at our firm. We recognize that each individual and business is unique, and we approach each case that way.

Frequently Asked Questions

1What is business law?
Business law is a broad term that covers many different areas of the law. In the simplest of terms business law is the law that controls the relationships between businesses and the public at large which includes, but is not limited to:
  • Business formation and organization
  • Contracts
  • Mergers and acquisitions
  • Business planning and negotiations
2What are the major business organization forms, and how do I choose the one that is right for me?
The four major business organization forms are: (1) the sole proprietorship; (2) the partnership; (3) the limited liability company (LLC) and (4) the corporation. Each has its own advantages and disadvantages that require a look at your individual business needs as well as any possible tax implications.
3What body of law governs business and commercial law?
There are many laws that govern business and commercial law, from the U.S. Constitution to state and local laws. The Uniform Commercial Code (UCC), which has been adopted in some form by most states, is the main statutory authority when it comes to contracts and the sale of goods.
4What is a negotiable instrument?
A negotiable instrument is a signed writing that represents money that is to be transferred from one party to another. Promissory notes, checks, and certificates of deposit are some examples.
5What is the main difference between a LLC and a corporation?
A corporation is a separate legal entity from its owner(s) which means the owner(s) are shielded from personal liability (except for particular situations). Some corporations are subject to double taxation (taxed at both the corporate level and when distributed to shareholders). The corporation is also subject to certain corporate formalities that are governed by state law. The limited liability company (LLC) is a hybrid of corporation and the other business organization forms. The LLC is a separate legal entity from its owners (members) which protects the owners from personal liability in most situations while also allowing for pass-through taxation (taxed only on distributions to owners).
6How do I form any of the business organization forms?
While state law requires a formal procedure for formation for corporations and LLC’s; it is a good idea to speak to an attorney for the formation of any business organization form to ensure you, your assets, and your customers are properly protected.
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