Small business owners have a lot of things to think about including sales, marketing, payroll, taxes, hiring, and project management. The last thing they want is to be worried about legal issues and lawsuits. They can prevent these issues by ensuring access to a Los Angeles business attorney at all times. This way, they can prevent litigation and handle complaints outside of court properly. If you are a small business owner, here’s when you will need a business attorney:
Establishing Partnerships and Incorporating
A business attorney is an important partner when getting a business off the ground. Without a lawyer, a business owner risks building a business on a weak foundation. A business lawyer is an important service provider when establishing partnerships or incorporating a business. They will craft partnership agreements or review agreements to make sure nothing important is overlooked. A bitter dispute could destroy all the hard work a business person puts in to launch their business. An attorney can draft a shareholder agreement to protect the business and its owners from ruin as well as make sure that partners have a plan and understand their roles. Also, an attorney can help a business owner decide whether to choose LLC or an S-Corporation.
Handling Employment-Related Issues
Employee disputes can pose a serious risk to one’s bottom line and affect a business owner’s ability to hire good employees in the future. A good lawyer can help owners navigate various laws, regulations, and codes. Also, they can help protect a business against suits and claims.
Negotiating a Business Sale or Purchase
Decisions regarding the sale or purchase of a business must be taken seriously. These transactions require significant paperwork and due diligence. A business lawyer can help owners negotiate the sale or purchase of a business by streamlining the process and eradicating legal risks often associated with such transactions.
Ensuring Compliance with Laws
A business lawyer will set up a business, so its owner is protected against personal liability in case of a lawsuit or debt. They will ensure the business strictly follows state law. They ensure a business’ compliance with zoning law, employment law, copyright and trademark law, and premises liability law. By maintaining a solid relationship with an attorney, a business owner can get advice and guidance when issues arise with partners, vendors, customers, employees, and independent contracts.
Helping Maintain Financial Stability
A business attorney knows the financial ropes in terms of raising capital, keeping records of income and expenses, as well as applying for business loans. They understand what it takes to be fiscally responsible. They will ensure a company is set up to take advantage of tax breaks and avoid tax-related issues