Starting a business from the ground up takes tenacity. Most owners pour their savings, time, and heart into creating a brand they are proud of. Along with land, labor, and capital resources, business owners will seek guidance from professionals such as accountants and insurance agents, especially when first starting out their small business. In many cases, they forego seeking counsel from a business attorney, believing legal advice is not needed. Although many business owners are hesitant to contact an attorney at first, in the long run, it is a good idea to have a trusted business lawyer in their portfolio for whenever a predicament or major issue arises.
Small business attorneys deal with a variety of issues relating to the legal aspects of a business. They are mostly concerned with the overall operations and business structure, but they also deal with a broad range of disputes the business could be involved in. Below are a few different roles a small business attorney may have while representing a small business.
Draft and Negotiate Contracts
Drafting, reviewing, and negotiating contracts is the bread and butter for any lawyer, but especially for small business attorneys who are enabling the legal startup of a business. Business lawyers understand the important elements that make a contract valid, and they sort through the obscure clauses to make sure their client is set up for success. Creating the correct legal arrangements and contracts at the foundation of starting a business will ensure a smoother start and may even prevent potential litigation in the long run.
Handle Intellectual Property Concerns
Wanting to create a new slogan for your business, saying, “Just Do It?” Unfortunately, you cannot, since this was already trademarked and highly protected by another business, Nike. Having a business attorney on your side will save you the trouble of finding out from another business’ attorneys that you violated their trademark and copyrights. Since most people are not aware of the miscellaneous intellectual property entities, a small business attorney can help protect business owners from IP lawsuits.
Handle Conflict with Business Partners & Clients
Disgruntled clients and faulty business suppliers and partners can create stress for any small business owner. Whether it’s the business owner’s fault or not, the attorney will advise on next steps, including either litigation, arbitration, or settling. The small business attorney will exercise proper due diligence when figuring out the best option, dependent upon the case details and nature of the opposing party. On the opposite spectrum, if a small business owner is looking into merging with or acquiring another company, an attorney will manage the legal side to ensure a mutually beneficial outcome.
Handle Miscellaneous Legal Aspects for the Small Business
Among the legal aspects listed above, small business attorneys handle many other miscellaneous entities to keep the business running smoothly and legally. They create non-disclosure agreements, shareholder agreements, and employment contracts while complying with relevant laws and regulations. Some small business attorneys also help determine potential tax advantages within business formations.
When forming, managing, or facing a dispute as a small business, an attorney who specializes in business law is a great person to have in the owner’s corner. Just as a small business owner seeks guidance from investors, accountants, and insurance agents, consulting with a lawyer will also help protect the business in the long run.
DYE CULIK PC is a Charlotte, North Carolina small business and franchise law firm. Our attorneys have represented small businesses for more than a decade. Give us a call at 980-999-3557 if you need help or legal advice for your small business. Follow us on Instagram for the latest updates on CLT small businesses.