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A business lawyer can help you manage almost every aspect of your business, supplying you with the legal services you need to ensure every action you take is compliant with the law. If you’re not working with an attorney skilled in business law, you may violate laws without even realizing it. Here are just a few more specific ways that hiring a lawyer can help your business.

4 Ways a Business Lawyer Will Benefit Your Small Business

1. Get Help Maintaining Your Status as a Corporation

If you’re like most small business owners, you know that incorporating your business provides you with vital personal protections. However, the law stipulates that you must meet certain requirements to maintain that status. A business lawyer can help ensure you comply with those state and federal laws as you operate your business. Failing to comply with the laws can expose you and any partners to personal liability if a lawsuit targets your business.

2. Protect Your Intellectual Property

Most people think of artists, musicians, and writers in terms of protecting intellectual property, but this legal concern affects anyone who creates original work. From creating a company logo to the brochures you design for your customers, any unprotected original creation can be copied and used by others. A small business lawyer can help you file for copyrights, trademark licenses, and product patents, so anything your business creates or produces will be protected under the law.

3. Create Legally Binding New Hire Agreements

business-lawyer-Greensboro-NCA contract lawyer can help you create legally binding employee contracts that spell out the terms of the employer/employee relationship. This may include drafting non-disclosure and non-compete contracts that bar the employee from profiting off of trade secrets. Since some employees will not stay with your business, it’s necessary to address these issues with written agreements.

4. Develop an Exit Strategy for Partners

If you have business partners or a board of directors, it may be crucial to create a plan for dealing with resignations, or the death of a partner. An exit strategy will create a way for the other partners or board members to buy back that individual’s stake in the company. Alternatively, a method can be set in place for each partner to leave their share of the business to a beneficiary. Whichever route is chosen, a business lawyer will be needed to help put this strategy into place.

 

The Law Office of W. Randall Holcomb has experience in civil litigation, business law, and estate planning, which means their legal team has the expertise to meet all of your small business needs. Practicing out of Greensboro, NC, the firm can help you protect your business and remain compliant with local, state, and federal laws. To learn more about their areas of practice, visit their website. To consult with a business lawyer, call (336) 888-8760.

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