In a simple definition, a joint-stock company is a business entity owned by a group of investors. Here, investors can willingly purchase and sell their shares whenever they want. Often, most investors are required to incorporate via public entities like LLCs or corporations to carry out business and acquire some protection levels. However, while such entities are popular forms investors opt for, they aren’t the most secure concerning issues like judgment-proofing of assets, asset protection, and multiple state operations, etc.
Because of this, it would help getting acquainted with Texas Joint-Stock Company (TJSC), a legal and well-documented entity. Unlike other public entities, TJSC offers numerous benefits. Continue reading to learn the top benefits Texas Joint-Stock Company offers compared to LLCs or Corporations.
Complete Protection and Judgment-Proofing of Assets
The first benefit of choosing TJSC is total protection and judgement-proofing of assets even after being served with a lawsuit up to the final court verdict. Typically, the Texas Joint-Stock Company isn’t subject to state statutes like the Fraudulent Transfer Act since it’s the only entity under Common Law set up by private contract.
Operates Across All 50 States Without Any Franchising
The TJSC is the only entity that can conduct business across all the states in the U.S. without having to franchise or charter with the Secretary of State. That’s in contrast to LLCs or Corporations that must franchise or consent with the Secretary of State to conduct business in any state.
Legal Mandate to Sue all 50 States to Prevent Your Lawsuit’s Dismissal
The Texas Joint-Stock Company has the legal standing to sue any state in the U.S. and prevent them from dismissing your lawsuit. On the contrary, LLCs or Corporations don’t have automatic legal stature across the fifty states required for filing answers to litigation. They must first franchise or charter with the Secretary of State in the respective state.
To learn more about the benefits of establishing a Texas Joint-Stock Company/Revocable Living Trust Combination, contact us today at ProAdvocate Group for the ultimate judgement-proofing and protection of your business assets.