Operating a company can present a host of challenges, and that's why it's common for firms of all sizes to retain the services of at least one business lawyer. Even if you're just not quite sure what the legalities surrounding an issue might be, talking with a business lawyer could save your company a lot of grief. Take the time to get in touch with one if you're facing any of these 5 concerns.
Starting a Business
How a company initially incorporates will determine a great deal of how it operates going forward. This includes a wide range of issues related to taxes, control of the company voting rights and reporting requirements. You'll want to explain to your attorney what your goals for your business are so they can point you toward a structure that will allow it to thrive.
Changing the Company's Organization
Reorganization, even in limited cases, can present major legal hurdles. In addition to filing paperwork, you'll also likely have to answer questions from internal stakeholders. A reorganized business often sees changes in who its officers are and how it distributes income. It's best to have counsel any time you confront one of these issues.
Making Deals with Other Businesses
Putting together an agreement or a contract that involves another organization can be a long process full of jargon. A business lawyer can help you understand the terms proposed by other parties, and they also can help you translate your intentions into legal language. Having a professional around to scan such documents for errors and omissions can make a major difference. Likewise, they can help you verify that your firm's rights will be protected throughout the term of the deal.
Contracts with Consumers
Businesses frequently enter into contracts with consumers. You see this every time you click on a user agreement when using your cell phone. Someone drafted those agreements, and it's a fair bet that someone was a business attorney. These agreements shield companies from liability by dictating things like bind arbitration and jurisdiction, and they should be taken seriously in terms of a company's overall risk exposure.
Mergers and Acquisitions
Being acquired or acquiring another company is a big deal. Timing is critical for a variety of reasons, including avoidance of compliance and fraud issues. Representations are often made during negotiations, and it's wise to have a lawyer review every detail to keep you on the right side of the law.