Business law is an intricate and complicated form of law that carries a lot of weight in the world of Business and law. Millions and sometimes even billions of dollars can be at stake at times and can affect millions if not more people. Starting a business is a daunting task that takes an uncountable amount of man hours and work. It is a huge responsibility that is constantly requiring attention and help to reach its full potential. So much goes into the daily intricacies of running a business that help is an absolute necessity, not only from your employees but from an outside source that can protect you. This is where a business law attorney comes into the picture. There are countless laws, regulations and rules a business owner needs to abide by. Sifting through the endless list of rules and regulations by yourself is not feasible and is not recommended at all. While it may seem that hiring a business law attorney is expensive be assured that if something were to go wrong or certain regulations were not followed, intentionally or not, having an attorney on retainer can save your company from not only losing money but possibly keep it from going bankrupt. Let's talk about some of the ways a business attorney can guide you through the winding road of running a successful business.
It is inevitable in any company and business that employees will be hired and fired. When a company grows it must hire personnel to successfully keep that company on track and ensure the smooth operation. On the other side of the coin if a company needs to cut back and shrink in size employees must be let go. Each company and business has different reasons for hiring or firing and those reasons vary greatly but it is crucial that the company realizes what it can and can't do when it comes to hiring employees. Contracts, employee rights, and unemployment are all subjects that a experienced business law attorney can understand and explain to a client. If you prematurely fire someone for a reason that is not excusable you may be find yourself in trouble if that employee takes further action. Same for hiring. If you hire someone based on something that is not appropriate or run into the subject of nepotism you may be at risk and can possibly suffer from heavy fines or even worse. Another big issue that happens more than you think is the issue of harassment in the workplace. This is something that can halt operations and create such a toxic work environment that you could lose serious money and have the businesses reputation tarnished.Tax Issues
Keeping the government happy is something that no one wants to do but at the end of the day must be done. If a business grows more taxes may be handed down, if a company is not current with its taxes heavy duty fines may ensue. Payroll deductions and taxes are both things that a business attorney can assist with. They can help a company stay within compliance and explain the course of action and steps necessary to continue to stay in compliance. Let's be honest, no one likes paying taxes but it is a obstacle every legitimate company must face and comply with. Taxes are one of those things that if not settled and dealt with in a timely fashion can completely hinder the progression of a company.Mergers and Acquisitions:
When a company intends to grow and make a larger profit they may seek the merger or an acquisition of another company and vice a versa. Any time two business entities combine there comes a laundry list of tasks and steps that can be extremely frustrating. Federal, state, and local laws may come into play and following said laws can mean the difference between success and failure.Small Businesses With Big Problems
Starting a brand new business, like stated before, is a huge jump for anyone, even those with proven business experience. A small mistake or hiccup, whatever it is can put a company out of business indefinitely. As a small business owner there are certain steps you can take by yourself that may not require a business law attorney such as writing a business plan, hiring new employees, making domain names, researching a name, applying for licenses or permits, or creating contracts for clients. There are however, things that should not be done without the proper legal representation from a attorney. These include but are not limited to, anything to do with a lawsuit due to discrimination, negotiating the sale of the company, environmental issues, local state or government entities that have filed against you, the allocation of large sums of money etc.Drafting and Negotiating Contracts
All business agreements are important, so you need to make sure that every contract you sign protects your rights and serves your best interests. The attorneys at Mark E. Fried, P.A. can help you draft new contracts, review contracts from other parties and negotiate terms successfully. This firm handles all types of contracts, including employment agreements, partnership agreements, purchase orders, consulting agreements, invoices, service agreements and more.
At the end of the day you really cannot put a price on piece of mind. It is something that every business owner however big or small needs to not live in constant stress. That's why experienced and professional business lawyers are there for. To provide sound legal advice and assistance in the things that they have studied years to understand. The simple fact is that you wont need a business law attorney for each and every situation but having one on retainer that you can rely on in times of need is a luxury that you absolutely need to consider. Every situation is different and calls for a certain course of action. Knowing who what where why and how to execute that course of action is something that any business owner should have mapped out and understand.
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