Who Is A Business Attorney? What Does A Business Attorney Do?

A business attorney, sometimes called a business lawyer, is hired to present legal guidance and sometimes business/financial advice to clients. They ensure that businesses stay legally compliant while also staying afloat.

In addition, for those in the early stages of planning their business formation, such as forming an LLC, understanding how long it takes to get an LLC can be crucial to meeting legal deadlines and ensuring smooth registration.

A business attorney has the best interest of a business in mind while ensuring that affairs follow federal laws, bylaws, and state laws.

Additionally, a business attorney has the best interest of a business in mind while ensuring that affairs follow federal laws, bylaws, and state laws. 

Also called corporate lawyers and attorneys, they deal with various legal matters such as drafting employment contracts, acquisitions and mergers, taxes, adherence to fair practices in day-to-day dealings, and so much more. 

An attorney serves as an agent or a substitute for the person who hires them for their services. Furthermore, they are authorized by the law of the land to act on behalf of their clients. 

Conflict resolutions, business model formation, compliance with national and International law, and other matters that arise with operating a small-scale or a large-scale business all fall under the purview of a business attorney.

Business Attorney: Types of Lawyers

 

In the post-Covid era, many startup companies have come into existence. Ensure that your startup stays legally compliant with the country’s business laws.

Thus, it is a good time to hire a business lawyer. However, before you carry on, it is better to understand what type of business lawyers you can employ to do your job.

General Business Lawyer

A business attorney who provides consultation on various subjects is called a general business lawyer. They can help draft documentation contracts and other internal business policies that suit a particular business. 

Business Lawyer Specializing in Employment and Labor Law

If you are running a business, you are working with employees. In these cases, it is important to keep company policies updated according to labor and employment statutes of the land. A business lawyer specializing in labor and employment law can help that happen.

M&A Business Lawyer

This branch of business law deals with merging or purchasing other companies. Drafting, appropriate negotiation, contract and their performance, and selling specific parts of a business- all of these are dealt with by a business attorney. 

Business and Tax Lawyer

All businesses require payment of taxes. Hence, a business lawyer specializing in tax law will deal with all financial concerns relating to transactions, taxes, marketing processes, etc. It will be their job to ensure that the company hiring them carries out tax obligations, benefits, and exemptions. 

Intellectual Property Rights Business Lawyer

Intellectual property is a set of assets that only have value in business. Businesses deal with intellectual property daily. Those dealing with intellectual property must hire a business lawyer specializing in business law for that purpose.

When Do You Need a Business Attorney?

A business lawyer can be a valuable asset for any business, regardless of its size or industry. However, it is common to think about whether you really need one for your business. Will having a business attorney add value to your business, or will it make any difference?

The answer is YES. Here are some common situations where you might need to consult with one:

1. Forming a Business Entity

Firstly, if you’re starting a new business, a business lawyer can help you choose the most suitable legal structure (e.g., sole proprietorship, partnership, LLC, corporation) based on your specific needs and goals.

Besides, they can also assist with the necessary paperwork and filings to establish your business legally.

2. Drafting Contracts

Secondly, you definitely need a business lawyer when you are drafting a business. You see, contracts are essential for any business transaction.

Therefore, a business lawyer can help you draft clear, enforceable contracts for a variety of purposes, such as employment agreements, lease agreements, vendor contracts, and non-disclosure agreements.

3. Handling Legal Disputes

Third, if your business becomes involved in a legal dispute, a business lawyer can represent you and protect your interests.

They can help you negotiate settlements, mediate disputes, or represent you in court if necessary.

4. Intellectual Property Protection

If your business relies on intellectual property, such as patents, trademarks, or copyrights, a business lawyer can help you protect your assets.

They can assist with filing for patents and trademarks, defending your intellectual property rights, and preventing infringement.

5. Regulatory Compliance

Many businesses are subject to various regulations and laws.

Therefore, a business lawyer can help you understand and comply with these regulations, ensuring that your business operates legally and avoids penalties or fines.

6. Business Succession Planning

Finally, if you plan to sell or transfer your business, a business lawyer can help you develop a comprehensive succession plan.

This may involve drafting a buy-sell agreement, valuing your business, and ensuring a smooth transition of ownership.

What Does a Business Attorney Do?

Business lawyers help companies through the legal processes of setting up and carrying on their business.

In short, they are required to file cases when necessary, prepare arguments and legal documents on behalf of the organization, and represent the company in case of trials.

A list of their duties may include:

• Helping a business start functioning legally.
• Settle disputes the business with other businesses.
• Draft contracts under the law, be it international, national, or other bylaws.
• Help the company in times of acquisitions and mergers.
• Provide useful legal advice in case of claims and issues. 
• Resolve any disputes related to property owned by the business.
• Provide legal advice as to the risks involved and legal compliance.

Business Attorneys Near Me: Charges and Availability to Keep in Mind

If you are looking to hire a business lawyer, it is best to research them first. Try identifying the areas in which you need their expertise.

Also, suppose you are looking to hire a lawyer for a shorter period instead of a permanent business member. In that case, visiting a lawyer offering hourly legal services is best.

The internet is always a good place to start. You can look up lawyers in your area and the matters you deal with, such as taxes, mergers, etc.

The average cost of a corporate or business attorney in the United States is $150 to $400 an hour. The charges vary depending upon the extent of legal services required and the type of your business.

If you own a large-scale business, hiring a business attorney who has been practicing for a while is better.  

Hire a Business Lawyer!

If you are wondering whether you need to hire a business attorney, here is the deal. For a startup, even though you may be running low on capital, it is important to stay on top of your financial and legal requirements and ensure compliance. One could benefit immensely from hiring a business attorney. 

If it is a large business, you are also advised to hire a business lawyer for the same reasons. That said, large companies that have been functioning well for a long time are usually more aware of a business’s legal and financial responsibilities.

Therefore, it would be wise to research whether you need a business lawyer. However, in case of legal trouble, a business lawyer is the best person to be hired to get you back on track!

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