A business lawyer represents businesses or persons that deal with a specific type of business. Small business lawyers generally represent cases involving:
Business disputes: A small business lawyer specializes in a specific type of case, which may be a business contract, a dispute over business ownership, or even a dispute about the purchase or sale of real estate. A business contract usually deals with contracts for selling or buying real estate or other business assets, while a lawsuit concerning the purchase or sale of a company’s stock is typically handled by a business litigation lawyer.
Issues related to the sale and purchase of securities: As more businesses have turned to trading on the stock market, business owners have become more likely to purchase or sell securities related to their companies. A business litigation lawyer may specialize in issues regarding such transactions, which include, but are not limited to, stock options, stock warrants, options, and shares of stock themselves. When purchasing such securities, it is often important for business owners to consult with a business lawyer to make sure that they do not violate securities laws, including regulations set forth by the Securities and Exchange Commission.
Business ownership issues: A business owner can own a certain number of assets or be involved in a variety of activities that have a bearing on the amount of assets he or she owns. A business lawyer can provide advice to a business owner regarding any issues relating to how to manage or control the amount of assets that a business holds.
Other legal issues: A business lawyer can provide legal advice to an entrepreneur about issues that pertain to the acquisition of another business, such as a franchise, or the use of a business name or logo for a new business. A lawyer who practices in this area may also advise entrepreneurs on issues that pertain to protecting their existing business name or trademark from infringement lawsuits from competitors. Many small business owners are involved in the process of starting up or expanding their businesses, and a lawyer can help the entrepreneur to determine the most suitable legal and financial strategies for making such endeavors a success.
The business owner or entrepreneur concerns can also be addressed by a business lawyer who works with the owner’s accountant, tax preparer, or attorney to address general tax issues. If a business owner wishes to buy a business asset, such as real estate, a lawyer can help the entrepreneur to do so without having to hire a full-time business professional.
Some people who own businesses have to deal with the financial aspects of running the business. A business lawyer can help the entrepreneur to plan for these matters, especially if they are involved in transactions related to financing a business, such as loans, capital expenditures, taxes, and payroll expenses.
In many states, there is an elected position for a small business lawyer to fill. These positions are known as a state bar association lawyer.
Although some business owners and entrepreneurs feel comfortable dealing with their accountant, other owners have found that hiring a lawyer to work with them can be advantageous. This type of attorney can help to protect a business owner from potentially embarrassing situations, such as having a business accountant stop by at home and ask questions that are personal to the owner.
Another advantage to having a lawyer handling a small business situation is that they are better able to negotiate better deals with the financial institution or agency from which a business receives financing. The attorney will be able to negotiate better terms and conditions that help to reduce interest payments. and overall costs of the loan.
The attorney will also be better able to present business documents in a more concise manner to investors or lenders in order to convince them to purchase a business over an unsecured loan, as well as help to establish better working relationships with the lending institution. in the future.
Businesses that do not offer enough benefits, such as free advice or a good reputation, can be difficult to get funding from, especially for an attorney to help. An attorney can help to make sure that these small businesses are able to attract funding when possible. For example, a good lawyer can help a business owner present documentation that convincing banks or other lenders that a business is a good investment that will pay off in time.