Ever wondered when exactly you would ever need a business lawyer involved in your business? Business relationships are mostly based on transactions and relationships and are often based on contractual law.
A typical business deals with contracts, supplies, leases, loan agreements, employment contracts, and contracts with clients on a regular basis. Therefore, when you decide that you want to visit your local grocery store to get some groceries for the week, you are in effect getting into a contract. In case you do not understand the law, then you can easily find yourself getting into an invalid contract.
According to the law, invalid contracts cannot be necessarily enforced. You will need to enter a contract that will not place an unfair burden or cause you to become liable for damages. Therefore, it is in the interest of all business owners to get the legal advice of a lawyer when running your businesses.
Lawyers can come in handy and help in many business scenarios from incorporation process, drafting of the business contracts, and representing you in litigation. Therefore, is a lawyer always necessary? Or are there just some specific times when you might need them to handle your legal matters?
Here are some guidelines that will help you know the circumstances in which legal assistance of a lawyer can become handy.
So under what circumstances does a lawyer become handy?
There are a few circumstances when you probably need the assistance of your lawyer. The following are just a few examples of situations that will require the help of an experienced attorney:
Registration of a Business
When registering a business, you have to ensure that everything about it is legal. This is where a business lawyer comes in. It is important that you register the business according to the law.
Before you get to start a business, it is important that you are familiar with all the important and crucial legal requirements, laws and codes that are associated with registering a business in your respective state.
A business lawyer will ensure that your business is registered legally. Contrary to this, your business may be considered an illegal body, and, as a result, the owner can be held liable for breaking the law. Seeking the assistance of a qualified business attorney can help you avoid the legal wrangles that are associated with failure to comply with registration requirements of your state.
Running your Business
Legal assistance doesn’t end with registration. When running your business, you will need hire employees, bid for tenders, trade, which basically covers all the aspects of running a business. During the hiring process, you will need to draft contracts, policies, and rules that your employees will have to sign and agree to.
It is important that you seek the help of a qualified attorney to assist you draft these important documents. One of the top legal risks that business faces today in the US are employee suits, that range from sexual harassment suits to discrimination.
A lawyer will assist you in drafting watertight contracts and reasonable policies that will prevent you from getting into these kinds of suits. Your lawyer will also assist you in making viable decisions about business deals, your partners, and tax compliance issues.
Expanding your business
You have been making serious progress in your industry niche, and now you think its time you expand, well, it's time you call your attorney. In case you are considering the option of expansion, and possibly through a merger, then it is important that you know what the law requires.
A qualified business attorney can help you go through these process. Partnerships need to adhere to certain regulations like investment needs, profit and loss sharing ratio. A business lawyer will be able to help you draft a written contract that will help prevent any legal issues that may arise in the future.
However, while it is important that you retain a business lawyer in the issues that have been explained above, your emphasis should be placed in the prevention of legal wrangles in the first place. Prevention will not require you to necessarily hire a full-time lawyer, but a little consultation once in a while will not hurt. By the time your business gets sued, the prevention damage has been done, and you will have to deal with attorney fees, court fees and damages.
Therefore to prevent unnecessary legal wrangles and damage costs that result, you might consider a consultation agreement with your lawyer.
Mollaei Law is a law firm specializing in business law serving businesses and entrepreneurs. We provide legal expertise in all stages of business development by drafting and reviewing contracts and agreements, assisting transactions and negotiating, forming LLC's and Corporations, registering trademarks and copyrights, business planning, and answering any legal questions you may have about your business.
Sam Mollaei, Esq., business lawyer, can be reached by email email@example.com or via phone (818) 925-0002.