When you own a business, there are so many different responsibilities that you will have. You will need to do everything from obtaining your permits and licenses to obtaining loans, hiring, training, ordering, advertising, and taking care of everything else. Anything that is not done correctly can cause you big problems later on, or even right away in some cases. Many businesses make it a point to have a business attorney help them with their business transaction law, so they know they aren't making mistakes that can cost their business dearly. Here are some examples of how a business transaction attorneys can be there to help you along the way.
Setting Your Business Structure Up
The first thing you are going to need to decide is what type of business you are going to set up. If you are in a line of work where you are more of an independent contractor, then you may choose to remain a sole proprietor. However, there are ways that becoming an LLC can offer you a lot of protection. Also, if you are setting up a larger company, then you may find yourself deciding between becoming an LLC, a partnership, a corporation, etc. A lawyer will be able to help you decide which type of business you should consider yours to be.
Drafting Up Your Contracts
As a business owner, you are going to have a lot of contracts that you are going to need to sign, or have created. Every single contract needs to protect your business and all parts of that business. You also need to have a clear understanding of every contract that you enter into and understand the repercussions of you not sticking to your part of that agreement. A business attorney can draw up any contracts you need, review ones before you enter into signing them, and explain the legal jargon in contracts to you before you sign. Your lawyer can also tell you what parts of a contract should be changed before you sign and they can even take care of making those new changes for you.
Protect All Aspects of Your Business
When you have a business, everything about that business will need to be protected. One thing you may not have thought about that may need protecting is your name and logo. Another company may begin using it and infringing upon your trademark. It is your lawyer who is going to be the one to protect the trademark if this comes up. Another example of the protection you may need will be protection from lawsuits that can come from everyone from your own employee, to a customer, or even another business you do business with.