Business Planning - Professional Entities

Professional Entities are specialized entities that are formed as corporation-like entities but are entities that are created in Texas for individuals who are licensed to provide in this state or another jurisdiction the same professional service as is rendered by that professional entity. These may include professional associations (PA), professional corporations (PC) or professional limited liability companies (PLLC).

A Professional Association (PA) means an association, as distinguished from either a partnership or a corporation that is formed for the purpose of providing the professional service rendered by a doctor of medicine, doctor of osteopathy, doctor of podiatry, dentist, chiropractor, optometrist, therapeutic optometrist, veterinarian, or licensed mental health professional.

A Professional Corporation (PC) is a corporation that is formed for the purpose of providing a professional service, other than the practice of medicine by physicians, surgeons, or other doctors of medicine, that by law a corporation may be prohibited from rendering.

A Professional Limited Liability Company (PLLC) is a limited liability company formed for the purpose of providing a professional service such as an architect, attorney, certified public accountant, dentist, physician, public accountant, or veterinarian.

Our firm can assist with the formation of these specialized entities and the creation of operating agreements, by-laws or company agreements with buy-sell provisions to provide protection for the individual members.