Do I Need A Business Lawyer?

A business lawyer is a valuable asset, whether you are an inspired entrepreneur growing your startup or managing multiple franchises as a medium-sized corporation. A business lawyer helps business owners navigate complex legal matters, from business formation and securing funding to acquisition contracts and dispute resolution.

Owning a business is not just about maximizing profit. It is also about minimizing risk, and this includes legal risk. Legal issues arise from everyday occurrences such as contract disputes and regulatory non-compliance. A business lawyer can help manage these problems and reduce the chance of them happening at all.

Stay with us as we explore the role of the business lawyer and whether or not you need one to start, grow, and protect your business.

Business Law Expertise

Let’s begin with the basics–what is business law?

Business law is a branch of law that regulates how businesses are established, run, and managed. A business lawyer will have experience and knowledge in basic business law as well as expertise in one of the areas below:

• Business formation and structuring
• Business dissolution
• Contracts
• Property rights
• Corporate governance
• Taxes
• Consumer protection
• Merger and acquisition
• Employment law
• Intellectual property
• Consumer protection

Sometimes, you don’t need professional help, such as filing basic paperwork or drafting standard contracts for small agreements. However, larger contracts and business dealings are best completed with the advice and guidance of a business lawyer experienced in navigating legal nuances.

How Can A Business Lawyer Help?

Regarding your livelihood, it’s best to have a business lawyer on your side, offering crucial support throughout the company’s formation and growth.

Starting A Business

A business lawyer offers value from the beginning of your business journey, guiding you through the necessary steps to set up your business. By helping to choose the right legal structure, drafting partnership or operating agreements, and securing necessary licenses, business attorneys ensure that your business operates legally and compliantly within the local legal framework. Laying the foundation for growth on the legally sound ground ensures that business risks are minimized from the start.

For example, suppose you want to follow your dream of launching a tech start-up. In that case, a lawyer can help you determine how to structure your business as an LLC or a corporation. They will guide you through the pros and cons of each option and settle on the best course of action to meet your needs. An attorney can help you draft a founder’s agreement and review contracts with vendors and partners, giving you confidence that your business is built within a solid legal framework.

Growing A Business

As your business grows, a lawyer will help you scale and navigate the legal complexities of growth. From drafting employee contracts and developing workplace policies to protecting assets and intellectual property and managing compliance with employment law–a business attorney ensures that your business scales smoothly. When it comes to mergers and acquisitions, an attorney offers additional guidance, helping secure financing from investors, handling agreements, and negotiating commercial leases.

For example, as your tech start-up grows and you hire new employees, a business lawyer can help draft employment contracts and ensure compliance with local, state, and federal laws. Perhaps you need funding to launch your application for Android–a lawyer helps review investor agreements and negotiate deals. With a lawyer’s help, you can focus on scaling your tech startup without worrying about legal details.

Protecting A Business

By focusing on business growth and expansion, your business becomes increasingly vulnerable to legal complications, such as overlooked contracts and employment law violations. You must protect your business to avoid expensive disputes and compliance issues. A business attorney helps protect your company against serious risks, ensuring compliance is maintained, contracts are watertight, and sensitive information is protected through non-disclosure agreements.

Let’s continue the example. As your tech startup continues to grow, it’s important to protect your intellectual property, and a lawyer will advise on filing patents on new technologies and software. Attorneys offer their assistance in drafting non-disclosure agreements for employees and contractors and challenge competitors when infringing on intellectual property.

Dealing With Disputes

In the unfortunate situation of legal trouble, a business lawyer can help navigate these complicated situations, saving time, money, and reputational damage. A legal professional helps resolve conflicts efficiently, offering mediation and negotiation services to settle disagreements and prevent escalation. If commercial litigation is unavoidable, a specialized attorney can represent your business in court and manage the overwhelming admin that comes with defending your company against lawsuits.

With growth comes responsibility, and as your tech startup scales, you open yourself up to potential disputes, such as disagreements with a vendor or an employee claiming wrongful termination. A business lawyer is your first line of defense, offering negotiation, mediation, and litigation services. By advocating for your company’s best interests and mitigating disputes, your tech business reduces risk and costly implications.

Tips For Choosing The Right Business Lawyer

Not all business lawyers are created equal, and it’s important to choose the right lawyer for your business, ensuring that your business is protected and well-structured.

Consider these tips when choosing a lawyer.

• Determine what type of lawyer you need, depending on your legal requirements.
• Ask about their experience within your niche and industry.
• Choose a local business lawyer that you can meet in person or easily connect synchronously online.
• Ask about the fee structure and determine whether it suits your situation.
• Seek recommendations and referrals from people in your community or online.
• Consider the lawyer’s communication and compatibility.
• Check references and online reputation.