Lots of people with entrepreneurial spirits start their own company when they have a great idea, even if they have little understanding of what is business law. However, a lack of knowledge is not the only reason why owners should have a strong working relationship with a business law attorney. According to Cliff Enico on Entrepreneur.com, ” A good business attorney will provide vital assistance in almost every aspect of your business, from basic zoning compliance and copyright and trademark advice to formal business incorporation and lawsuits and liability.” As a result, they are a great resource for owners who want to make sure that they are protected should a problematic legal manner arise.
Nowadays, like doctors, there are a number of different specialties that business law attorneys could have, and someone who doesn’t specialize in small business laws might not be the best option for small business owners. Enico suggests that there are a handful of skills owners should always look for when hiring a lawyer.
- Contracts and Negotiations
- Type of Business Organization
- Real Estate
- Intellectual Property
Unfortunately, doing large amounts of paperwork and ironing out the details of a transaction are parts of doing business today. The best attorneys help owners make sure they have the right paperwork and offer advice that helps them make the right deal.
Determining the type of business is an important step for a new owner. Deciding to be a corporation or LLC is a vital decision, and skilled attorneys can help owners make the right call.
Commercial spaces, and the rules associated with them, are quite complex, and leasing one is not always as easy as paying rent. Reliable business law attorneys will be able to help owners find the right properties and understand how to afford them.
Lots of businesses fail because they fail to make the proper payments to the IRS and have their assets seized. The best way to avoid that is to not only be responsible, but to stay organized and make sure tax payments are always being made on time.
Some attorneys specialize this, and those who offer the other services with the ability to handle copyright and trademarking issues can be hard to find. However, that is an important skill to look for if a business owner is in the media or digital industry.
Skilled business lawyers are a valuable resource for owners and waiting until a problem arises to hire one can be a big mistake. Every business owner is unique, and will have different needs and goals, but finding attorneys with the right set of skills is always a smart choice. Learn more.