When you own a small business, the success of your venture rests squarely on your shoulders. But when it comes to legal matters, you should rely on someone other than yourself. With a trusted attorney by your side, you can have confidence that your company is compliant with business laws and legal practices. To help ensure you get the legal insight and support you need, here are three common scenarios when a small business should hire an attorney.
3 Reason to Consult a Business Law Attorney
1. Establishing a Business Entity & Employee Structure
If you’re forming a new company, you should consult with an attorney to determine the appropriate form of legal business entity with which to conduct your business. Whether a sole proprietorship, a partnership, a corporation, or an LLC (limited liability company), each form has unique advantages and disadvantages. A business law attorney can analyze the needs of your company and assist you with the determination of which business form to choose.
Business law attorneys can also help you with decisions concerning employee contracts, benefits, nondisclosure agreements, and workers’ compensation, as well as numerous other business decisions.
2. Contract Negotiations
Reaching agreements that affect your business can be a daunting task. A business law attorney can assist you with contract negotiations to ensure that your company secures the best deal possible. They can help identify the risks involved, ensure an understanding of contract terms and obligations, and recommend a course of action. And, if you are buying or selling a business or a substantial asset, a business law attorney can aid in structuring the deal and managing the transfer of property.
3. Protecting Assets
Asset protection is essential to running a successful business. Whether dealing with tangible assets (such as realty, or equipment and machinery) or intangible assets (such as logos, brand names, and proprietary data), a business law attorney can help you take steps to minimize the vulnerability of such assets to creditors, or to misappropriation by former employees or competitors.
If you need the assistance of an experienced business or commercial law attorney, please contact Gess Mattingly & Atchison, P.S.C., 201 West Short Street, Suite 102, Lexington, Ky. 40507; telephone 859-252-9000. For over 60 years we have been providing quality legal services to clients throughout Kentucky … let our tradition of excellence continue with you. Visit the firm’s website to find more information about its Business & Commercial Law practice.