By the end of 2019, most U.S. companies had at least 800 million terms of service agreements and customer contracts. These agreements and contracts included arbitration languages in case of future legal complications.
Most businesses assume the status of a legal entity on inception. With such a status, your firm takes direct responsibility for a wide range of law-related matters. Understanding some of these issues right at the start-up stage is vital.
The laws that apply when starting a business and throughout the venture’s life cycle are complex to an ordinary citizen. This is why you need a business attorney to ensure you remain on the right side of the law.
Business owners often wonder why they need a business lawyer. Keep reading for more insight.
Who Is a Business Attorney?
There are over 1.3 million licensed active attorneys in the United States. Business attorneys form part of this growing number of legal officers. Business lawyers specialize their practice on issues that have a direct impact on businesses.
If you ever need to handle a legal matter that has a direct relationship to your business, it would make more sense to consider the services of a business attorney. These lawyers have extensive knowledge of all matters about your operations.
Here are the reasons why your company needs a small business attorney.
Your Business Is a Legal Entity
Once you register your business as a corporation or a limited liability company, it assumes the status of a legal entity. This means that your company can be sued or sue in a court of law as a legal person. With such a legal standing, you need to have a legal mind behind your operations to represent your business whenever necessary.
Your company is a separate legal person from you. You should, therefore, have someone else to deal with any legal matters that may arise along the way. This ensures that you don’t have to take time off your busy schedule to deal with emerging liability.
You Need a Business Lawyer to Handle Contracts
Contracts are the backbone of any business. No matter what sector you are in, you need binding agreements to protect you from any legal liability. A business attorney helps your company handle the bill of sales and warranties, which pertain to the property transfer and lifetime guarantees.
If your firm is large, you also need employment agreements and employee non-compete contracts to ensure that you manage your employment status from potential legal complications. You may also need a business attorney to help you with matters of commercial property lease agreements.
All these contracts matter to a business. Leases keep changing for your going- concern as the business grows. As such, you need a lawyer by your side every step of the way.
Taxes and Licenses
Your business has statutory responsibilities it must fulfill periodically. But first, such a company must undergo the process of business registration. A lawyer is the best professional to guide you on matters such as federal and state tax identification and registration procedures.
The business attorney should also be in a position to guide you on the tax consequences that are specific to your company. You also need a business attorney to guide you on the licensing obligations in your state. Such a business lawyer should advise you on any changes to the licensing dynamics in your area of operations.
Handling Copyright and Trademarks
Your trademark is part of your company’s marketing strategy. Trademarks such as brand names need legal protection from potential misuse. You need to ensure that unscrupulous individuals don’t use your company logos or product names for personal gain.
You might need the best business attorney’s services to ensure that such brand names and product logos remain protected. Depending on your area of specialization, you also need a business attorney to ensure that your business copyright and other intellectual properties are under legal protection.
Businesses in the modern context continue to embrace innovation in their product design and development. If you ever launch a unique product in the market, you might need a business attorney’s services to ensure that you get the right patent.
When you want to venture into sectors that adhere to strict conformity standards as part of restrictions measures to limit entry, you need a business attorney. Starting ventures such as home care, home health care, or hospice requires the observance of underlying regulations. Working with a trusted business attorney is essential during such instances.
You might need to consider a wide range of home health care policies and procedures before starting up. With the support of a reliable business attorney, this should be easy. Such support includes advice on how to navigate the complex legal terrain.
Dealing with Multi-Business Complexities
Every going concern’s ultimate goal is expansion. Once you begin to expand into other states or countries, many legal issues begin to manifest. You might need to consider the different laws that apply to each of the new locations.
Many multi-businesses end up in legal trouble, given the failure to consider legal guidance. You might need a lawyer in such cases to help your business navigate the expansion plan’s legal complexities. Without a business lawyer who understands your company and the legal requirements in your intended market, you may end up in trouble.
Hiring a Business Attorney Is a Necessity in Your Company
Only a few business owners also double up as lawyers. While you might thrive due to your business acumen, a simple legal mishap can bring your business down on its knees. Before making any decisions within the company, it would help to consider the services of a business attorney.
Your business needs a lawyer to manage all legal documents, offer advice, and represent your company in court in case of any legal liability.
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