How a Business Attorney Helps You Navigate Various Business Laws
Anyone who owns or runs a small business will likely know how important a role a business attorney can play during certain critical times in the life of the business. From helping you register and/or protect your trade name, to helping you understand and comply with appropriate local and federal laws that govern your industry, to helping you deal with legal issues as it relates to HR and other issues, and even when it concerns winding down your company. It is therefore very important that, even before you formally launch your business, that you seek legal guidance from a business law firm.
All manner, types, and sizes of businesses are governed by various laws. These laws include laws that govern companies at the start-up phase, large conglomerates and everything in-between. Including the dissolution of these companies. These laws were enacted to ensure that there is order and sanity in the business world and that things work as they should.
Nevertheless, most business owners are usually just focused on running and growing their business, that they cannot be bothered, or at least have the time (or the know-how) to ensure that their businesses are adhering to these laws. Which is where a business lawyer comes in, as they will usually have the experience, expertise and know-how to help you navigate your way around all the various laws your business needs to know about and adhere to.
The fact is, there is a lot that your business stands to gain from partnering with, or otherwise having access to the advice of a small business lawyer on your team, or otherwise having access to them. The below are just some of the ways in which an attorney will help you achieve some of your company objectives.
Company Start Up
Starting a business requires that you follow specific guidelines, depending on the nature and industry that your business operates in. However, by consulting with an attorney you are more likely to get all the necessary information and guidance on the specific type of business you are considering starting and the laws governing it. So referring to things like laws governing company shareholding, tax filings, company registration and more.
Managing your company
One of the reasons why business laws are put in place is to ensure that the individuals and other entities who come into contact with these businesses are not negatively impacted by it. So for example, Operating a business in the mining industry will require you to conform and comply with several ecological laws.
However, for small businesses, some of the laws that a small business lawyer will help you navigate include:
Contract Law: Guaranteeing that any contract you sign is properly drawn up and does not inadvertently violate any local, national or industry laws, thereby making you an “accessory,” if any of these laws get broken by another party, by virtue of your signature being on the contract you signed. The sanctity of a contract and the consequences of breaking one can often have negative effects on the business, and sometimes even the owners or managers of the business. This is why it is especially important to ensure that any contractual relationship is properly scrutinized by a lawyer.
Employment Law: This refers to the law that regulates and deals with how you employ, remunerate, and terminate the employment of any of your workers, and more. And is also the law that would deal with many problems that arise within the context of the everyday working environment, such as sexual harassment.
Environmental law: Which is the law that deals with and regulates what obligations your business has towards the environment.
Copyright law: protecting creativity, imaginative ideas and patents surrounding your business and any inventions or products birthed by your business.
Tax laws: this governs different taxes that affect your nature of business at a local and federal level.
There are numerous situations that can result in your company’s dissolution. You can voluntarily decide to wind down the business, or other extenuating factors might come into play. Alternatively, your small business may be bought out by a larger corporation. You may also be involved in a merger, one which would radically alter the ownership structure of the business. Lastly, your business may also go bankrupt.
It is very important that you seek proper professional legal help whenever you are pondering any of these business processes. Especially when you are preparing to file for bankruptcy, entering a merger or simply selling out your business. A lawyer will assist you get the very best possible deal out of every scenario.