Owning a business may seem like your key to happiness and financial freedom, but the fact is business is full of complicated legal issues that you may not be prepared to deal with. The laws and regulations governing all facets of business is extensive. And what happens if someone sues your company? In order to protect your business (and yourself) you may want to consider consulting a business attorney.
Business law deals with two different areas: transactional and litigation.
Transactional attorneys focus on business acquisitions, taxes, management, and compliance with regulations. It is a good idea to consult with a transactional attorney when you begin forming your business. Partnerships, LLCs, Corporations and S Corporations all require registration with the state and have more complicated paperwork requirements. A transactional attorney can help you with preparing business formation documents, trademarking, as well as lease agreements and other contracts.
In the event you are being sued or need to take legal action against another party, you will definitely want to contact a litigation attorney. A litigation attorney represents your business when there is a contractual or other dispute. These processes are typically complex and time-consuming and there is often too much at stake for most business owners to attempt to handle these affairs on their own.
Many business documents can be found online and can be completed without the need for an attorney (and attorney fees), but you may want to focus your attention on your business instead of spending your efforts learning the legal processes. Some business owners elect to use a lawyer on an “as-needed” basis. They utilize their business attorneys as “legal coaches” wherein the business owner completes documents and contracts and then requests their attorney review the documents and provide feedback. For a savvy business owner this may prove to be a cost effective arrangement.
In the event that you choose to hire an attorney to represent your business, it is important to choose an attorney that you trust and feel comfortable with and who is responsive to your needs.
If you believe you need to talk to an attorney regarding setup of a business, business litigation, contract formation or litigation or any other commercial or corporate law needs, contact our office at 330-922-4491 or through our contact page to schedule a free, initial consultation.