There are many things a business law attorney can assist you with, from the start of a business to selling it or passing it down. Business litigation can be difficult, and other issues dealing with your company and the law can be complex. It is wise to have a business attorney for litigation purposes, but there are six of the primary reasons you will need a business attorney, as follows:
- General business and operations;
- Labor and employment laws;
- Mergers and Acquisitions;
- Property for business;
Table of Contents
General Business and Operations
It is in a business owner’s best interest to always keep an ace up their sleeve. A business attorney they can count on and trust to deliver them the best legal advice for their business and operations. Questions may arise where the business owner needs to know the laws. This is when they can always count on their attorney for a simple phone call to get the answers. They do not even have to go in for a meeting.
From the birth of a business to retirement, the business laws will constantly change. Having a business attorney will remove the business owner’s headache from knowing when and what laws vary. It is convenient, time-saving, and can save the business owner from making mistakes that can cost them millions, if not their entire business.
The most considerable help an attorney can give at the start-up is the business logos, incorporation, LLC paperwork, and business name copyrights. Not only is it essential to get a business started legally, but it is also getting it started on the right foot with all the paperwork that is needed throughout the life of the business.
Labor and Employment Laws
Small businesses may not have a safety department or an HR division to help them keep track of the OSHA laws. Labor laws are also critical, and the company must heed the rules and changes that occur. A business attorney knows the issues that may arise from labor and employment laws. They can advise and also represent the business should litigation come into the picture.
Mergers and Acquisitions
Selling or merging one’s business is a significant step, and it takes a good business attorney to handle the load of paperwork involved. If the company is involved in stock investments where employees hold stock or other outside investors have stock in the company, they can sue the business owner at any point.
Businesses can merge with the company if enough stock is invested or if the business owner allows it to happen. It also works the other way around if the business owner wishes to grow their company, they may be on the lookout for acquisitions or other companies to merge with as it buys out the competition. These are solid legal matters and are in the business owner’s best interest to keep their attorney close to avoid loopholes that may hurt them in the long run.
This would be everyone’s unfavored moment regarding taxes and the IRS. Almost nothing can bring a giant headache to a business owner more than taxes. Here is where the attorney knows the law and can review the business purposes that serve the public. They will know the types of taxes like Expatriate tax, the business owner needs to pay and the paperwork required for every aspect of the company.
Everyone knows you have to prove your innocence with the IRS. They are in a different league, and it will take an experienced attorney to research your papers and speak on your behalf. If worst comes to worst, the business can also have an attorney represent them should they find themselves in an audit with the government.
Intellectual Property for Business
Copyright laws are something that cannot get infringed upon in court. This category deals with patents and trademarks. These laws are strict and can cost a company millions. Before a business can put out a product, trademark, statement, or any legal action, they must find out if there is not already a copyright placed on their idea. An attorney will know how to find this information and keep their client safe.
It works both ways. As the business cannot take another’s name or idea, neither can anyone take yours. The attorney can represent the business should these laws get infringed, or the attorney can set up the copyright for their client through the legal process. Breaking the copyright laws will call for litigation, and the judge will rule in favor of the company that holds the copyrights.
Contracts are legally binding agreements between two parties. There are several types of contracts within a business. If the business is doing business with someone else or another company, there are contracts. If there are partnerships, there are contracts. Almost every move in a business will have a contract signing.
A business attorney can draw up a contract and represent their client if a contract is breached. The judge will look at the signatures and the agreement made in court. They will always rule in favor of what is agreed. If the other party goes against the agreement, they will have to pay the price according to the terms of the agreement.
Summing It Up
Having an attorney represent you is good if you have a business. A business attorney can do so much more for your company; it is best to find one you trust and use them to your advantage. There is a chance of getting sued around every corner in the business world. Having a business attorney there when you need them is having the ammunition ready when the time is right.