You’re a small business owner. You’ve got a lot of hard work and growing to do, but you have no idea how to get started. Where do you even start? Having an attorney by your side can help guide you through the legal hoops that come with running your business.
The legal system is complex, and the language that lawyers use is often confusing. This can make it seem like it’s not for you or your business.
What is a General Business Lawyer?
A general business lawyer is a professional who provides legal advice to businesses and other organizations. Business lawyers may specialize in a specific area of law, such as real estate or employment law, or they may be generalists who handle all aspects of law for their clients. Business lawyers are often hired by companies that need legal help with a wide range of issues.
The role of a business lawyer varies across different industries and organizations. A good example would be lawyers who specialize in mergers and acquisitions, or lawyers that specialize in labor law.
General business lawyers can handle a wide range of issues, including:
- Commercial law: This area of law provides advice on issues such as contract disputes, intellectual property (IP) rights, employment law, and insolvency matters.
- Corporate law: This area of law focuses on companies’ formation, governance, and regulation. It also deals with mergers and acquisitions, shareholder disputes, and corporate restructuring.
- Intellectual property law: This branch of law protects intellectual property (IP), such as patents, trademarks, and copyrights. The laws governing IP are constantly changing so business lawyers must keep up to date on their knowledge to ensure they are advising clients accordingly.
- Employment & labor law: This area of law deals with employees’ rights at work including terms & conditions of employment, unfair dismissal claims, discrimination claims, etc.
Why do you need a business lawyer for your business?
Have you ever wondered why a business needs a lawyer?
You may have friends and family that recommend one. But, for those that don’t know the ins and outs of your business, why does it make sense to have a lawyer on your team?
The following are five important reasons why your business needs a lawyer:
1. Legal Advice
Businesses need legal advice for all sorts of things, including keeping up with local and state laws and regulations, drafting contracts and agreements, and even protecting their own interests in court. If you are involved in a suit, you will be able to hire a lawyer who can help you negotiate with the opposing party and come up with a settlement that will benefit both parties.
You need an attorney who is familiar with all aspects of the law, especially if it involves contracts and business transactions. An attorney who is not well-versed in these matters can cause problems for businesses when they are dealing with contracts and other business matters.
2. Protection
Businesses often face legal trouble from competitors or disgruntled employees who take their frustrations out on the company. A lawyer can help you navigate these situations more easily through expert advice and representation in court if necessary. That is why you should consider hiring Philadelphia Employment Lawyers for this.
An attorney has experience dealing with cases that involve complex issues such as patents and trademarks, which can be difficult for non-lawyers to understand or navigate through without help from someone who knows how these things work.
3. Insurance
If your business is liable for damages caused by someone else’s actions, it can be difficult to understand what exactly happened or whether your business should pay anything at all — let alone what amount should be paid out. A good lawyer will help you determine whether or not there is coverage available under your policy and how much coverage should apply in order to protect yourself against liability claims made against you by disgruntled customers or employees who feel wronged by your business practices or policies.
4. Taxes
If you’re running a business, you know that taxes are one of the most important things to keep track of. Whether you are a small business owner or an enterprise-level company, your taxes can be overwhelming. ou have to file a bunch of forms with the government, and you have to pay taxes on your earnings, interest and profits. And then there’s the fact that some of those things are taxable and some aren’t.
If you’re an entrepreneur, it’s easy to get confused about your tax obligations. But don’t worry: You don’t have to know everything there is to know about taxes in order to do well as a business owner. In fact, hiring a qualified tax attorney can help you keep your finances in order and protect yourself from unnecessary penalties or fines.
5. Trademarks and Intellectual Property
If you own a brand, you need to protect your intellectual property. A trademark is a word, phrase, or symbol that identifies your company as yours and distinguishes it from other businesses. The U.S. Patent and Trademark Office (USPTO) issues trademarks for companies, but there are several other ways to register trademarks in the U.S.
Trademarks are one of the most valuable assets that you can have as a business owner. Trademarks are simply names, symbols or other identifiers that distinguish your product from others. They help consumers find your product and make it easy for them to identify what you’re selling. For example, if Coca-Cola wanted to launch a new flavor of its famous beverage, it would need to apply for a trademark on the word “Coca-Cola” so that no other company could sell drinks with the same name.
Trademarks also protect your brand from being used by competitors in a way that damages your reputation or image. It’s important to use trademarks consistently and accurately because each time it’s used incorrectly can be grounds for legal action against you by competitors who believe they’ve unfairly been taken advantage of by your use of their trademark.
Takeaway
A general business lawyer can help you prevent problems before they happen, or fix them before they become a catastrophe. They can help with drafting contracts, and even suing other businesses to protect your interests and rights. They will help make sure you comply with laws and regulations, both big and small. And they can step in if something goes wrong, helping you make things right again before the problem becomes too big to handle yourself.