Penfield has been a part of and active in the business community for many years so it is not surprising that assisting Colorado’s startups and entrepreneurs, as well as established businesses, that need legal and business guidance to create, capitalize, manage, and expand their businesses is a vibrant component of his practice. Clients have long appreciated Penfield’s results-oriented and practical approach to assisting businesses.
From the initial meeting to understand the business and financial objectives of the business operator, and their timeline, Penfield formulates a schedule and plan to draft a wide variety of organizational and operating documents. The carefully and properly crafted plan will include a consideration of the potential types of business entities and the pros and cons of the options available. Once the decision is made with the client, the real work begins. When constructed properly the customized documents protect business owners from creditors, employees, and the other parties with whom they will have dealings.
Penfield has created a variety of entities under Colorado and Wyoming law including preparing: articles of incorporation or organization; shareholder resolutions, voting agreements; non-disclosure agreements; confidentiality agreements; minutes of board, member or managers’ meetings; stock purchase agreements; bylaws; operating agreements; partnership agreements; buy-sell agreements; shareholder agreements; joint venture agreements; and many other business agreements as required by his clients. Penfield also reviews and negotiates agreements for his clients. Typically, after the business is formed and operating, Penfield remains a vital member of the team, frequently providing ongoing business and legal advice.