Business Law
Why do I need a business lawyer
Business or transactional law is the practice of law that relates to money and commercial matters. Businesses provide goods and services and governments regulates those transactions. Generally, a business attorney will help in 2 broad categories. First, the formation of the business entity. Second, the advising on compliance matters impacting the business’s operations.
A good business lawyer’s goals is to explain to a business client potential problems and risks. This allows a business owner to make educated decisions on how to run their business.
A business lawyer usually spends most of their time out of court. The goal is advise and assist business owning clients on how to achieve their strategic goals. It could be how best to mitigate legal risks, identifying potential problems, or researching opportunities. Additionally, this of course means reviewing and drafting many contracts and forms, and being a valuable “second set of eyes” to business owner.
Where we can help
In general, these are areas or services where we help business owners:
- Business Formation (Founders Agreements, Registration of LLCs and Corporations)
- Business Partnerships (Partnership Agreements, Operating Agreements, Bylaws)
- Buying/Selling Businesses or their Assets
- Permitting and Licensing (Professional & Vocational Licensing, Liquor Licenses)
- Trade Names, Trademark, and Service Mark Registration
- Licensing Deals and Entertainment/Media Content Agreements
- Liability Waivers
- Commercial Lease Review
- Sublease Agreements
- Management Employment Agreements
- Employee Handbooks
- Independent Contractor or Service Provider Agreements
- Succession Planning (we frequently collaborate with financial advisors and estate planning lawyers)
- Nonprofit Formation and Tax-Exemption Application
- Education and Training Seminars
- Business Disputes, Cease-and-Desist Letters
- Contract & Government Forms/Application Reviews
- Don’t see what you need listed? Just ask! We have over 25 years of collective experience, so we’ve seen a lot of business situations. We do free 30-minute initial consultations.
Consider how we help …
Business owners tend to regulation and paperwork as obstacles to their deals. However, it is usually poor communication, planning, and a lack of attention to details that causes most disputes and penalties. The value of following legal formalities is to mitigate risks and ideally have smooth sailing. For example, a business partner cannot keep changing a deal because it was signed off. Another example, is to avoid penalties and fines by filing timely and accurate reports to the government. The importance of written contacts is cannot be overstated. Documentation of your deal represents one of the best pieces of evidence in a contract dispute.
Second, an lawyer with experience in your industry is critical. Understanding what to look for in a commercial lease or professional agreement is helpful to spot things out for a client new to business law. Doctors go to medical school, chefs become trained at culinary school, and entertainers hone their craft … but they don’t know contract law, intellectual property rights, or industry-specific regulation. They need an advisor, counselor, and navigator to get through the complex web of laws, contracts, and rights. An experienced attorney that knows your industry is an invaluable counselor.
Lastly, for business owners that look to the end, they need an attorney to help them move to the next stage of their life. Whether it be selling or closing their business or succession planning, an attorney can help with those processes and plans. Due diligence is a key process to buying/selling or transferring a business It requires understanding the risks of a deal and yes, reviewing a lot of documentation and information. Selling a medical practice or buying a bar is not just the money changing hands, but the rights, contracts, and relationships that may come with it.
So as a business owner, you should focus on what makes your business great, but let us provide the formalities and advise you on the legal aspects that impact your business deals and relationships.
Something to think about
Attorneys are definitely recommended in a business dispute, but consider a business lawyer to act as an ounce of prevention. You don’t know what you don’t know. By the time you or your business is in litigation, the damage is done. Don’t you owe it to yourself and your business, that you are making educated decisions knowing the risks?
For example, when a prospective employee files a lawsuit claiming gender discrimination based on your hiring process, all you can do is hire an attorney to defend your business. However, if you vetted your process with a lawyer and consulted with them beforehand, you would be able to change the process prior to implementing.
Sometimes the investment to have a lawyer review and consult prior to taking action is better than the costs of a stress and fees to defend yourself.
