Business Law

At Thomas Smith Law Firm we have years of experience in business and commercial law. We are honored to assist our business clients in furthering their organizational goals. We take pride in learning about their firm so that we can provide legal counsel tailored to their specific need. We advise our business clients on a wide range of issues including business incorporation, series limited liability companies, contract review, secured transactions, real estate transactions (both buyer and seller), and asset purchase agreements. Our experience involves large multi-state firms and small sole proprietors.

Our goal is to provide legal services to your business that are in conformity with your overall strategic goals. We want to learn about your organization and provide counsel consistent with your business’s culture, history, and future plans. We strive to be an integral part of your team and develop a solid relationship with you and your business over time.

Contract and Document Review

Contracts are the building blocks of business transactions; however small or large. At Thomas Smith Law Firm we have extensive experience in assisting businesses with contract review and negotiation. We believe a business can’t contract its way into a good relationship. Formal contracts are important, but the personal relationships behind the businesses are just as important. At our firm we work to understand the actual people involved and provide our counsel with that information in mind.

Secured Transactions

Secured Transactions are the mechanism that facilitates most substantive business transactions. We have experience advising both borrowers and lenders. We can advise clients on secured transactions involving both real and personal property. And we can assist clients in the proper use of the Uniform Commercial Code as it relates to secured transactions in the State of Arkansas.

It is important that all parties to a transaction understand when an underling lien attaches and how it to perfect it appropriately. We can provide assistance and counsel to any business or lending institution seeking to enter into a transaction secured by collateral.

Series Limited Liability Companies

We have significant experience utilizing Series Limited Liability Companies to combine robust liability protection for our clients with efficiency and flexibility. Series Limited Liability Companies allow businesses small and large to achieve greater liability protection than a traditional LLC. Additionally they allow business owners to incorporate various layers of protection without the need for multiple entities. Whether beginning a new side business or considering ways to better organize an existing legacy firm Series Limited Liability Companies may be a prudent option for you.

Employment Law

We have years of experience navigating the complexities of employment law. If you receive notice of an EEOC complaint, or just have concerns about a specific employee issue, we can be of assistance. Many times the key to resolving an employee issue is simply understanding what your business is, and is not, required to do as an employer.
Asset Purchase Agreements
Many business sales and purchases take the form of asset purchase agreements. These types of contracts typically call for the sale of substantially all a business’s assets; without selling the controlling interest in the business itself. These types of agreements have there advantages; and there drawbacks. If your business is looking to buy or sell a substantial portion of its assets we can be of assistance to you.

Business Insurance

A relationship with a quality insurance broker or insurer is critical to any successful business. We have years of experience working with commercial insurers and we are happy to work with you to find a business insurance broker or insurer that will be a good fit for your business.

The foundation of our business philosophy simple. Our goal is to develop sold, long-term relationships over time. We want to understand your business so that we can provide you the best counsel possible. We understand the importance of protecting your business, yet at the same time getting a transaction to the “yes” stage. Please contact us at any time if we can be of assistance.