People sue a business for a variety of reasons, and it’s likely that most business owners will come across one or more lawsuits throughout the life of the business. Because most small business owners refuse to hire a lawyer, the damage from lawsuits can be enormous.
There are different types of lawyers, which makes selecting one challenging. We’ll cover six common small business lawyers that can help protect your business interests.
- 1 The Importance of Small Business Lawyers
- 2 6 Types Of Small Business Lawyers
- 3 Attorneys You May Face Litigation From In Business
- 4 Resting Our Case
The Importance of Small Business Lawyers
It is well known that lawyers are expensive, often out of reach for most small business owners. However, if your business is the subject of a lawsuit, you’ll be more than happy to have small business lawyers.
When you use an attorney’s service, they can help you avoid lawsuits. This fact may be worth the cost of your attorney. Sometimes, a simple act of having a lawyer send a letter can prevent someone from acting against you.
Find an experienced lawyer because you don’t want to pay someone to study. When evaluating lawyers, ask many questions and how they have helped other businesses like yours. You should prioritize the small business lawyers who specialize in your industry.
Having small business lawyers on hand can also help make sure you run your business in the legal way. They can review contracts and documents that you consider legitimate. Your solicitor can advise you on any necessary changes.
Some small business lawyers are knowledgeable about tax matters, even if they are not an accountant. They may have addressed legal tax issues for other business owners and can ensure that you don’t run into similar problems. Of course, you should seek advice from an attorney with your accountant.
6 Types Of Small Business Lawyers
Sometimes people wonder what types of lawyers are available to them. The attorneys generally specialize in business law or personal law. For this reason, you will want to look for lawyers with experience in business law. The types of business laws are also important and will depend on your industry.
The following sections describe the six types of attorneys for business. As you read these sections, you will better understand which ones are right for your business.
1. General Business Lawyer
As the name suggests, a general business attorney can provide legal advice on a variety of matters. This lawyer has at hand every legal discipline. If your business doesn’t deal with exceptional cases, a general business lawyer might be a good fit for your purposes.
When considering this type of lawyer, ask questions about the different situations that could affect your business. If you do not feel comfortable that your business will be affected by those situations, you may want to choose a lawyer who is more specialized. In some cases, small business lawyers will generally be suitable to assemble a specialized group of lawyers and will be the contact person for your case.
You should be suspicious of any attorney trying to convince you that they know every aspect of the law. The law is too complex for any person who can master the entire field of law.
2. Employment and Labor Lawyer
The use of employment and labor lawyer only makes sense when your business has employees. If so, your business must comply with state and federal laws. An attorney in this area of law can help you develop an employee handbook and ensure safety standards are in place.
Some of the areas of employment that can affect your business are improper contract termination, workplace discrimination, and sexual harassment. This is not an exhaustive list, which is why it is important to have expert attorneys in the field to protect your business.
If you feel the need to terminate an employee, you can discuss the matter with your solicitor. They can determine the best way to handle a situation. If there is still a legal issue, the attorney can join and represent your company.
Employment law is one of the areas that is constantly changing. It is the attorney’s job to keep up with these changes so you don’t have to.
3. M&A (Mergers and Acquisitions) Lawyer
When you buy and sell businesses, you’ll negotiate for the property and assets of those businesses. It may not always be clear what you enjoy in these negotiations. You have to pay to have a merger and acquisition (M&A) attorney represent your interest in the transactions.
M&A lawyers who have worked with a number of deals clearly understand the nuances associated with them. The opposing party will try to negotiate for the best deal in their favor. M&A is a complicated process and trying to do this without an M&A lawyer is not a wise decision.
The profiling process is another complex aspect of M&A deals. Small business owners can ignore the necessary documents. M&A attorneys know about documents and records. These attorneys are also knowledgeable about the laws related to pensions and employee rights related to transactions.
Transactions related to intellectual property may require the expertise of the IP attorney. Some M&A lawyers have this expertise but should never assume so.
4. Tax Lawyer
Taxes for businesses can get tricky. For this reason, you must pay to use a qualified tax professional, such as a Certified Public Accountant (CPA).
While a CPA can be beneficial when your business is audited, it is possible that the tax authorities decide to sue your business. For this you will need a tax attorney.
Another reason to use a tax attorney is when you decide not to use CPA’s services, or you discover that the CPA you choose is ineligible or misleading. Both of these situations may cause the IRS to pursue legal action.
When looking for a tax attorney, choose one with experience in tax law. They must be licensed to become attorneys and have received tax law training, preferably a master’s degree. If you belong to an association for your business, consider getting referrals.
5. Intellectual Property Lawyer
If your company has trademarks and patents, you may need an intellectual property (IP) attorney. These attorneys are qualified to handle copyright, trademark, patent and even brand identity concerns.
An IP attorney can also work to make sure your business does not violate IP concerns of other companies. Most business owners are not trained to know when they violate, which makes IP lawyers a valuable organization. Intellectual property infringement is one of the highest payments for lawsuits.
Information is considered intellectual property. People believe they can exchange data freely on the internet, but they often face legal troubles due to the wrong sharing of data.
For example, if you use terms like “Just Do It” or “Taco Friday”, you will likely listen to the IP attorney. Both of these terms are trademarked and highly protected by Nike and Taco John’s.
6. Contract Lawyer
Many business owners use templates found on the internet for their contracts. These can be effective, but they can cause legal problems for your company. The templates won’t include details specific to your business.
A qualified contract attorney can determine the right contracts for your business. Most transactions require terms that are not in the template
Using templates can expose your business to undesirable obligations. The legal language contained in any contract, including templates, is very complicated for confusing citizens. You will have to fulfill these obligations, which could cost your business much higher than expected.
The cost of using an attorney will seem small compared to what you would pay for the undesired terms. If your business uses contracts, consider hiring a contract attorney to review those contracts and ensure that your business is properly represented.
Attorneys You May Face Litigation From In Business
The information in this article can help you when you encounter a legal situation. As you learn the details of the case, you will know what type of lawyer you will oppose. You can then work with an attorney to determine the best course of action for handling it.
The most common attorney you will face is the attorney for the general business. The advantage is that the damage can be minimal with this type of lawyer.
As states protect their citizens, you can expect that employment lawyers will pursue your business. The constantly changing landscape of employment law is the premise for these attorneys.
Legal issues from intellectual property are rarer than others mentioned. However, this kind of law is subtle. It can climb on you because of something seemingly innocent.
Law on contracts and mergers and acquisitions (M&A) will only affect your business if you operate in these areas. If your business is subject to a contract, then you increase your risk. M&A attorneys are probably the least faced but can cost you the most because transaction losses are often large amounts.
See also: When Do I Need Small Business Lawyers?
Resting Our Case
After reading this article, you should understand the benefits of hiring the right small business lawyers. This attorney will help ensure that your business is not affected by legal hot water.
Certain situations may require the use of multiple small business lawyers. When this happens, you will want to organize the team into a team and appoint one of them as the team leader. This will help you keep them focused on the most important thing, which is your business interests.
You will not need an attorney for each and every legal issue that occurs in your business. But when you do, it’s good to know where to look right. And – moreover – you may not know you need legal help until it’s too late, as a lawyer can help you comply with the law and spot emerging legal issues early. Stay ahead of the curve by finding experienced small business lawyers at Lynx Legal Service. We invite you to contact our law office –Lynx Legal Service, or alternatively, send an email email@example.com and we’ll get back to you as soon as possible.