Business lawyers can help business owners solve problems and navigate legal situations safely. They focus on cases relevant to business, such as property issues, company structuring, and transferring ownership. The variety of legal activities they can assist companies with is broad, and companies of all sizes can significantly benefit from their help. Attorneys are knowledgeable in everything from starting a business to writing contracts to mergers and acquisitions. Whatever plans you have for your business, a business lawyer can help you make sure your company is successful without any legal issues. Business law services cover a wide range of cases and responsibilities, so choosing an attorney with vast experience is a great choice.
What Is a Business Lawyer?
A business lawyer provides advice and other legal services that involve aspects of a business. They can ensure companies are in compliance with business regulations and that all company operations are performed correctly. Business attorneys can assist with corporate law issues, business formation, conflict resolution, intellectual property, mergers and acquisitions, compliance, and many other business issues. Keep in mind that employment lawyers are different from business lawyers. They don’t deal with employment contract disputes or employment discrimination. Business attorneys instead focus on the overall structure of a business and any business operations.
Business Lawyer Requirements
Like any other attorney, business lawyers need to have specific credentials to practice law. They must have a Juris Doctor degree in law, successfully pass the bar exam, and have a valid state license. Furthermore, good business lawyers will have strong verbal and written communication skills, outstanding critical thinking, and good leadership. All lawyers need to be excellent at critical and analytical thinking, negotiation skills, and reasoning.
Why Companies Hire Business Lawyers
Any size company can benefit from hiring a business lawyer. There are some obvious problems where a business attorney would be of great help, like handling disputes and compliance issues. Business lawyers can assist with other problems, including writing contracts, breaches of contract, starting a new business, and real estate disputes. Here are just a few of the items that business attorneys can help business owners deal with:
- Starting a business
- Disputed contracts
- Writing contracts
- Mergers and acquisitions
- Breaches of contract
- Resolving business issues and claims
- Compliance and risk management
- Real estate and other property disputes
Business Lawyer Responsibilities
The responsibilities of a business lawyer are diverse. Since they deal with anything involving a company and their legal issues, business attorneys wear many different hats. What kinds of tasks they work on also depend on how big the business is and its industry. Large corporations might have a team of lawyers specializing in one area of their business, providing legal counsel and advice on compliance matters. If your company operates at risk of work-related injuries, you may need a lawyer to help handle these claims. In a small business, the attorney may handle every aspect of the business from start to finish. It all depends on the size and industry of the company.
Businesses may also choose to hire outside litigation counsel. If a particular lawsuit comes up, a company may seek out an attorney that has experience in that specific area. So if your company does not have a business attorney on hand, you may need to hire one out if any legal issues arise. As mentioned, the responsibilities of a business lawyer are diverse. Here are some examples of issues they might assist with:
- Transferring ownership or shares in a company.
- Helping a company adjust to a new law or new ownership.
- Changing the structuring of a company.
- Reviewing, drafting, and negotiating business contracts.
- Assisting business owners to prevent and resolve any complicated legal issues.
- Ensuring all relevant laws or regulations are understood by businesses.
- Examining and reporting all legal matters to relevant authorities.
- Managing clients and cases with different deadlines.
- Overseeing the “wind-up” process when a company dissolves.
- Registration of business structure, tax identification numbers, and other necessary licenses.
- Conflicts regarding the sale and purchase of companies and stock.
- Registration of intellectual property, such as patents, copyrights, and trademarks.
- Security breaches or other improper use of protected data.
Considerations When Hiring a Business Lawyer
Hiring the right business attorney for your company is a crucial choice. Once you’ve evaluated your business’s legal needs, budget, and other factors, you can choose an attorney to help you. If your company is a large corporation, you may need an entire legal team on staff. If you are a small business owner, you may need to hire an attorney for specific tasks regularly. No matter the size of your business, there are some issues to consider when hiring legal help.
- Reason for hiring: be specific about your legal needs as you start your search for a business attorney to ensure you find the right person for the job.
- Cost: determine your budget for hiring an attorney and make sure you know how much their legal counsel will cost your business. Legal fees are structured in a few different ways, so ask how the payment will work.
- Location: you’ll want to hire someone familiar with the area and the local regulations and laws that will affect your business’s operations.
- Research: do some research on potential business attorneys and their experience. Look at reviews from past clients and have a conversation with them to learn more.
- Credentials and specializations: depending on your business, you may need to hire an attorney with specific areas of expertise. Ensure your lawyer will have the background and the skills to handle the type of work you need them to do.
- Resources: besides knowing the lawyer, you will want to learn more about their firm and what resources are available.
Benefits of Hiring a Business Lawyer
The benefits of hiring a business attorney are diverse, and they can take away some of the stress of operating a business. Ensuring that your company legally follows regulations and standard procedures will be crucial to your success. A legal team can help you with all of the complicated paperwork and processes involved in running a business. Finding a business lawyer you can trust is critical and will make running your business a lot easier.