Every business will almost certainly require legal support at some point. However, no one starts a business to spend all of the money on legal expenses. So, when do you require the services of a Boca Raton corporate attorney?
Forming a Business
It is not difficult to establish a corporation or a limited liability business. The relevant forms are accessible online from the Secretary of State. Many of these documents are easy to fill out. Still, you’ll probably need the assistance of a small business attorney to determine which one is best for your company and circumstances. A Boca Raton business consultant in Florida can ensure that your operating agreement or corporation bylaws are tailored to your specific scenario. Even if you don’t file anything with the Secretary of State, you’ve formed a partnership if you go into business with a partner.
Writing and Reviewing Contracts
Entrepreneurs and small company owners frequently misunderstand contracts and other legal papers as simple as adapting a form obtained online or borrowing from a friend. While such a document may serve as a good beginning point, the devil, as they say, is in the details. You need a small business attorney who understands your industry to ensure that all of the details are correct—that every I is dotted, and every T is crossed. Your Boca Raton asset acquisition lawyers should draft, or at the very least evaluate, any standard form contracts that your company needs to ensure that they are enforceable.
Intellectual Property
Suppose you’re in the business of producing or designing anything. In that case, you should talk to a Boston trademark attorney about the differences between copyright, trademarks, and patents and which ones your company need. Once you grasp these terms, registering for copyright and trademark protection is simple.
Succession Planning
Succession planning, also known as departure planning, is essential for any small firm with more than one owner. Your succession plan should address what happens to your co-owners interests if they die or just wish to leave the business. These plans are especially crucial for family-owned businesses when the owners wish to retain the business in the family. To ensure a suitable buy-sell agreement is in place, you should consult with a small company attorney.
Suppose you decide to buy or sell a business. In that case, you will need the assistance of a small business attorney to negotiate and draft sales agreements, negotiate and draft asset acquisition agreements, and undertake the appropriate due diligence.
Don’t Wait Until You Hire a Small Business Attorney
Long before a lawsuit is on the horizon, every small business requires a good working relationship with its attorney. If you do, you’ll have an attorney that understands your industry and has done all necessary to save you from being sued in the first place. Preventing lawsuits is usually less expensive than settling one. However, if you are sued, you must contact a small company attorney right once.
While you may believe you can resolve the issue on your own, you don’t want to reveal something that might be used against you later unintentionally. Litigation also entails complex procedural problems and timelines. If you wait too long to contact an attorney, you may miss a key deadline or lose a potential defense. It should go without saying that the same is true for any government investigations.
Do-It-Yourself Option
Even if you want to do it yourself, you should have a Boca Raton corporate attorney “review your work.” For example, if you draft your company contracts, an attorney can ensure that they have all of the essential terms and legalese and are enforceable. If you create your company entity, your attorney can examine your operating agreement, partnership agreement, or bylaws and advise changes. This sort of coaching arrangement can save your business money while also strengthening your working relationship with your attorney.
Your Time is Valuable
Last but not least, because your time is important, you should engage a small business attorney. An entrepreneur’s to-do list is never short of a mile long. If you can outsource some of those responsibilities to someone needs knowledgeable than you, you will save time, money, and a lot of hassles in the long run. There is undoubtedly something to be said about devoting your time to the elements of your business that you enjoy and delegating the rest to experts who enjoy dealing with those aspects.
