Need Info on Business Law?
Why Small Companies Need Effective Legal Counsel
Starting a small business can be a daunting but ultimately rewarding challenge. Small business owners face a number of complicated laws that a business lawyer can help them understand. Business lawyers train themselves to understand all the legal complexities that businesses of all sizes face. They can assist businesses with a number of legal issues that can arise when starting or growing a small business, as well as any legal conflicts that may arise during business.
What Can a Lawyer Do for My Small Business?
An attorney who works with small business owners can provide a number of valuable services for clients. Some of the legal issues these attorneys know how to handle include:
• Choosing a business structure – Many different types of organizations exist. Should you start a sole proprietorship, a partnership or a corporation? What is the difference between a limited liability partnership (LLP) and a limited liability company (LLC)? What are the advantages and disadvantages of a corporation? Is your business eligible to become a nonprofit organization? The answers to these questions are unique to every business, and a business attorney can talk to you about the structure that would most benefit your small business.
• Employment law advice and litigation – Employees have very specific legal rights that may vary from state to state. A business lawyer can allow employers to understand the rights of employees in order to protect employers from wrongful termination cases or other lawsuits. An attorney can also establish contracts for employees and include noncompetition or nondisclosure agreements to protect employer rights.
• Business Disputes, Conflicts and Litigation – Issues such as breach of contract, construction disputes, unfair trade practices, commercial lease disputes and a number of other problems can threaten a small business. Corporations can experience highly complex issues such as shareholder disputes. Lawyers can not only allow businesses to avoid many of these conflicts altogether, but can work to get small businesses through conflicts that have already arisen.
• Mergers and Dissolutions – Whether a business owner seeks to grow a small business by acquiring other companies or intends to dissolve a business or remove a partner, a lawyer who handles the intricacies of small business can provide valuable services. An attorney can work with businesses on restructuring issues that accompany mergers and acquisitions or work with them to remove a partner or dissolve a company according to the law.
Working with a Business Lawyer is Essential to the Success of a Company
The list above is not comprehensive, and lawyers can assist a small business with many aspects of operation. Finding a lawyer who handles business law can improve your company’s likelihood of thriving.