When Do You Need a Business Law Attorney?
Running your own business carries significant responsibility for making decisions and resolving problems. For any company, a business law attorney can sometimes help you navigate issues much more effectively and successfully. If you encounter one of these common legal issues that businesses face, talking with a knowledgeable lawyer can be very beneficial.
Contract Enforcement and Breach
Contracts are a crucial part of any business. Many problems that arise in business operations relate to the terms of a contract between the business owner and an outside party. The issues may involve the owner trying to enforce specific contract terms or facing a breach of contract provisions by the other party. Problems may also arise when the other party questions the business owner’s compliance with the terms of a contract.
In any situation relating to the terms of a contract, a business law attorney can review the contract and explain your rights and obligations under the terms and provisions. After you understand the legal principles that relate to the issues, you are in a better position to find a way to address the problem. Your attorney can also explain the options and strategies for resolving the situation and even help you find a resolution that will be satisfactory to both you and the other party.
An experienced business law attorney can also assist in making certain that your contracts provide as much protection as possible, even before any issues arise. You can accomplish that goal by having your lawyer review all contracts before you sign and review all the contract templates and forms you use routinely in your operations.
Legal and Tax Liability
Legal and tax liability are among the most critical overall issues for any business. When you start a business, the legal structure (type of entity) you choose determines significant issues relating to legal liability and tax liability. Making the right choice initially is extremely important. Getting help from a business law attorney is the best way to make certain the structure fits your business and goals. Your lawyer also helps you establish the structure in the proper way, to satisfy all applicable legal requirements.
As your business develops, you may wonder if a different structure would be better for your long-term plans and goals. Your attorney can help you answer that question, by explaining the differences among available structures and helping you choose the best option for your business as it grows.
Protecting business assets, as well as personal assets, is an issue that is closely linked with legal liability and the future of your business, and is another matter that you should discuss with your attorney. When you count on an experienced business law attorney, you gain the confidence that you have done everything possible to protect your business and your assets.
Continuity of the Business
As a business owner, you focus primarily on the day-to-day operations of your company, to keep everything running smoothly and address issues efficiently as they arise. It is easy to forget to tend to matters that could affect the future of your company.
For a business owner, having a business succession plan in place ensures that your business can continue to thrive, even if you cannot (or do not wish to) participate in running it temporarily or permanently. As part of a sound estate plan, a succession plan also protects your family and their interests in the business. A business law attorney works closely with you to develop the right approach for your succession plan and estate plan, to ensure that the future of your business and your family stay secure.
Ongoing Business Support
Small and midsize companies usually do not need a full-time lawyer in house to address the legal needs of the business. To make certain that you have trustworthy business counsel whenever you need help, you should establish a relationship with a business law attorney when you start your business.
If you have ongoing communication with a knowledgeable lawyer, your attorney fully understands your business operations and goals, as well as your personal situation and goals, so you gain confidence in the relationship. When you need legal help, your lawyer is readily available to step in and provide whatever assistance you need, without taking time to learn about your business and circumstances, which saves considerable time and money in the long run.
Schedule a Free Consultation with an Experienced East Valley Business Law Attorney
East Valley business law attorney Shane Peterson assists businesses of all sizes and types with the important legal considerations involved in setting up and running a business. Shane has extensive business law and estate planning experience and helps business owners address both of these critical areas to ensure the business and family are fully protected now and in the future.
Peterson Law Offices provides high-quality legal services at affordable prices. Your first consultation is always free of charge. We welcome inquiries from clients throughout the East Valley, including Queen Creek, San Tan Valley, Gilbert, Mesa, and Chandler. Schedule your free initial consultation by calling 480-878-5998 or using our online contact form.
