When did you last hire a business lawyer?
If you’re anything like most entrepreneurs or business owners, you’ve never hired a business attorney. If you have, there’s a good chance you hired them because your business was facing a lawsuit. While it’s crucial to lawyer up when you’re being sued, it’s not the only time you need a business attorney.
In fact, there are several instances that don’t even involve the justice system but need you to hire a business attorney. In this article, we’re listing some of the most common instances you should get a small business lawyer.
Let’s get into it!
Starting a Business
It’s not common for small business owners to hire an attorney when they’re starting a business. This is mainly because most entrepreneurs are setting up sole proprietorships, which is a pretty straightforward business structure.
Sure, you don’t need legal help to start a sole proprietorship, but if you’re planning to set up a partnership, an LLC, or a corporation, it’s super-important to have a lawyer who specializes in business law on your team.
Why? You ask.
Depending on the business structure of your choosing, there could be legal paperwork involved. If it’s a partnership, for instance, you’ll need a partnership agreement. An LLC will need a memorandum of understanding, and a corporation will need articles of incorporation. A competent business attorney, like those at https://www.venerable.law/, will help you with the legal paperwork, ensuring everything is in order.
Securing Intellectual Property
Any business will at least have some form of intellectual property.
If you’re selling a unique product, for instance, you could patent some aspects of its design. Filing for a patent is a complicated process, but you can hire a business attorney with patent law expertise to do the job for you.
Companies also want to protect their trademarks or secure copyrights to some works. Regardless of your specific needs, a business lawyer will help you protect your intellectual property.
Buying/Selling a Business/Merges
Instead of starting a business from scratch, you can buy one that’s already established. You might also want to sell a business as part of an exit strategy. Or you could merge with another business.
Whether you’re acquiring, being acquired, or entering a merger, you shouldn’t enter the deal without having a business attorney on your team. These are complex agreements with lots of legal jargon. Your lawyer will help you understand what you’re getting into before you sign on the dotted line. They’ll also advise you whether it’s a good deal.
How to Hire a Business Lawyer
There are thousands of business lawyers in the United States. They might all have the same education, but the quality of services they offer isn’t the same.
Knowing what to look for when hiring a business lawyer will enhance your chances of finding the best lawyer. Your ideal lawyer should be licensed to practice in your state, have plenty of relevant experience, and be of good repute.
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