You are a business owner. If you have a business problem, you might need a business lawyer. A lawyer can protect your company’s assets. According to Lipsitz Green Scime Cambria LLP, “All business owners needs to hire an attorney. An attorney is useful and valuable because someone may file a lawsuit against your company. Your business attorney can execute business contracts, buy and sell agreements and file a patent for you.”
First, your business lawyer can execute business contracts for you. It is vital that you get business agreements in writing to protect your company. To gain a larger share of the soft drink market, Company ABC and XYZ will merge. Both companies will hire a business lawyer to oversee the transaction. This is a complex transaction because it might be illegal for this transaction to take place. If you are doing a merger with another company, you need a business lawyer. With a merger, you need to bring in legal experts because you are reorganizing and restructuring both companies.
Next, your business lawyer can execute a buy and sell agreement for you. The buy and sell agreement is a tool to protect business partners against unforeseen events. Buy and sell agreements outlines what will happen when an owner leave the company. For example, three people own the ABC Company. Then, one owner dies in a car accident. When the buy and sell agreement is in force, the other two owners can buy the business. It is unwise to set up this type agreement without an attorney. This agreement is also useful when you retire or if you become disabled.
Then, your business lawyer can also file a patent for you. If you want to patent your product, you should hire a patent attorney. A patent attorney can help you check your patent options. This process is expensive and the approval process can take years to complete.
Moreover, you should hire a lawyer if you want to change your business into a corporation. The corporation may include shareholders and a board of directors. Business owners can hire legal counsel to manage the administrative duties and the taxes for a corporation. The business owner also uses an attorney for litigation. For instance, a current or former employee may file a lawsuit against a business owner(s). You have to protect your company from discrimination lawsuits, government investigations or customer lawsuits. If you own a company, this is why you need a lawyer.
Finally, if you are selling or buying a business, you should hire a lawyer. Your lawyer can give business advice and help you negotiate the deal. Business owners can hire a lawyer to execute contracts, create buy and sell agreements and help file patents.
