What Can A Business Lawyer do for me?
Running a business has never been a walk in the park. The administration of tax and meeting other regulatory requirements makes it necessary to have a lawyer and accountant on retainer or commission. Nevertheless, uncertainties arise and every business person must protect themselves against liability and legal consequences.
A business lawyer can help you with a variety of legal issues that may arise for your business. They can provide advice on forming your business, negotiating and drafting contracts, and protecting your intellectual property. If you are facing a legal dispute with another business, a business lawyer can represent you in court and help you seek a resolution.
Hiring a business law attorney should be the first step once you have decided to go into entrepreneurship. As a business owner, your peace of mind is the greatest asset one can have.
In this article, we’ll explore what to look for when you decide to hire a law firm for your business needs.
Services of A Business Lawyer
If you are in the process of evaluating which company to handle your legal matters, you should select an organization that not only caters to the compliance, and copyright issues but also one which walks with you throughout your entrepreneurship journey. The following are among the minimum services you should expect from your law firm;
Selecting a business structure
There are several factors to consider when making this decision, including the size and scope of your business, your personal financial situation, and the amount of liability protection you need.
There are four main types of business structures in the US: sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. Each has its own advantages and disadvantages, so it’s important to choose the one that’s right for your business.
Drafting contracts
Whether it be for potential employees or clients, a business lawyer helps provide clarity while also capturing the finer details to ensure you are fully covered. In dealing with internal and external stakeholders, a business owner should understand the fine print in supplier and labor contracts. This will help avoid unnecessary problems with staff and suppliers.
Protect your intellectual property
When you are in the media, design, or another creative-type business, protecting your intellectual property is important in protecting your distinctive and competitive edge. This ensures that you continue generating revenue from your ideas without other unscrupulous business people stealing them.
Real estate leases & agreements
Oftentimes, you will need to run your business from brick and mortar premises. These contracts are usually designed to benefit the landlord without any respite to the tenant. A great attorney will review the offer issues by the potential landlord and negotiate on your behalf for more favorable terms.
Taxes and licenses
Generally, this task is usually handled by your accountant. Nevertheless, your appointed law firm should understand your business structure and as such guide you in filing your taxes to ensure your enterprise is in full compliance with legal requirements.
Conclusion
As a business owner, getting the best service can be the determining factor in the success or failure of your enterprise. A business lawyer can be a great resource for your small business. They can help you with everything from setting up your company to negotiating contracts. If you’re just starting out, it’s important to have a good relationship with a business lawyer who can guide you through the process and help protect your interests.
