Starting and running a business can be extremely complicated. Many of the decisions you’ll make will affect the business long into the future. Regardless of the size of your business, it is a good idea to work with a corporate attorney who can protect your company’s interests.
What a business lawyer can do
When founding your business, a business lawyer can help you choose a corporation form and draft your initial documents, such as bylaws and operating agreements. As your company grows, a lawyer helps ensure continued success by providing legal advice to assist the company in avoiding litigation and ensure corporate compliance with various laws. Often, attorneys provide advice on employment policies and labor law. A business attorney can also mediate between business partners in order to resolve disputes.
A business lawyer can also help your business grow by serving an important role when dealing with suppliers, clients, and other third parties. For example, your lawyer can write contracts to purchase goods from suppliers, contracts given to customers or clients, and any other contract your business needs in order to function within a given industry. Your business lawyer can negotiate with a future business partner. A business lawyer can also represent your company in a lawsuit, either by bringing a suit against someone or defending the business if it is sued. If a client owes your company money, an attorney can help you with debt collection. If your company is facing bankruptcy or a corporate takeover, a lawyer can represent your business.
The ways in which an attorney can help with business functions depend, in part, on the industry in question, in addition to the situation facing your company. For example, a lawyer working for an insurance company may spend a significant amount of time determining whether the firm can legally deny a submitted claim. Meanwhile, lawyers working for a real estate agency may focus on writing contracts for the sale of real estate. The field of business law is broad, and small business lawyers may handle many different tasks, depending on the needs of your company.
Hiring a business lawyer
Whether your business has recently been founded or has run successfully for many years, hiring a business lawyer can help protect your company’s interests. In some cases, corporate attorneys work as in-house counsel, employed by your business. Often, this lawyer is a corporate officer known as the Chief Legal Officer or CLO. Depending on your industry and the size of your business, you may employ a legal team with several attorneys to handle your company’s needs. A lawyer may also advise your company by serving on the Board of Directors. Retaining the services of small business lawyers who work for a law firm is another possibility.