There are some things that a small business lawyer does for a small business. This shortlist offers a few examples: Prepare a small business plan. Let s face it; many small businesses have no idea how to make a plan. A good small business legal attorney prepares business plans for his/her clients so that they make informed decisions about their business. Not only does this help them avoid making big mistakes, but it also shows how a lawyer can help his/her client succeed.
Drafting and filing important legal documents.
If a small business lawyer spends time preparing and filing documents related to a case, he or she is more likely to provide sound legal advice to his/her client. These documents include a Memorandum and Articles of Association, an Operating Agreement, a Limited Liability Company, and other legal documents. Together, these legal documents outline the different responsibilities of the owners of the company and describe what specific duties each owner has.
Protection of small businesses from unexpected litigation.
No one wants to spend their time fighting with a competitor or trying to get a judge to issue a cease and desist order against them. Many small businesses find themselves at the mercy of larger businesses when they need legal assistance in such situations. Also, a small business lawyer who specializes in commercial law may be able to help them limit the liability of these larger companies.
Protecting the assets of small business owners.
Intellectual property is one of the most important things small business owners own. They invest time, money, and hard work in designing, creating, and selling products that create income for their businesses. Many times, these businesses succeed because of the innovations that their employees have provided. Their inventions are valuable and could benefit others. These small business owners need the assistance of lawyers who specialize in intellectual property law.
Making sure employees receive paid wages and benefits.
Small businesses are not able to provide the employee’s compensation that large corporations can. Because many employees are not paid properly, many times these businesses are forced to seek outside legal help to protect themselves. When companies make missteps that hurt their bottom line, they may have to hire an attorney who specializes in employment law. These lawyers make it their job to ensure that all employees receive the proper wages and benefits.
Avoiding unexpected and expensive lawsuits.
When small businesses make mistakes, they may become victims of patent infringement suits. This type of lawsuit often results in large monetary damages, which have a devastating impact on small business owners and their businesses. For this reason, it is necessary to have someone who knows everything about business law.
Maintaining a good relationship with the Internal Revenue Service.
The IRS is another entity that many small businesses need the assistance of a good small business lawyer. When a company makes mistakes or commits illegal acts, the IRS will often take legal action against the company. For many businesses, this can be a difficult and frightening experience. Because of the sensitive nature of the tax liability, small businesses do not want to risk having their assets seized by the IRS.
Protecting other businesses from legal problems.
When a company creates a unique product or service that performs a specific task, they often face lawsuits regarding the creation of the product or the performance of its functions. In order to protect their interests, many businesses find it necessary to hire a patent attorney who has experience working with businesses in their industry. These lawyers are important when it comes to protecting the company’s name. This increases the company’s market share, and obtaining compensation for those who have been injured as a result of using their product or services.