If you run your own business, hopefully, you’ll never encounter any legal issues. But in the event that you do, that’s when a corporate lawyer will be useful to you. Corporate lawyers can help you set up your business, but they are also lifesavers in the event of legal changes that could affect the operation of your business, intellectual property rights issues, and more.
Read on to learn more about this branch of business law and when a corporate lawyer may be needed to protect your business.
Reasons For Hiring a Corporate Lawyer
There are a variety of corporate snags one could face when starting their own business: things you may not have ever considered. Here are some of the most common reasons a corporate lawyer can be handy:
Changing Your Business Structure
Perhaps you’re thinking of changing your LLC to a corporation or vice versa. Different types of business structures serve different needs. The decision to change from one to another can be made with the legal advice of someone intimately familiar with the business laws in your state: someone like a corporate lawyer. Different structures come with their own set of pros and cons, so it’s important to be aware of these before making this critical decision.
Creating New Contracts
Legal contracts are a tedious, annoying part of running a business. But they’re essential for setting your policies in stone, so to speak. They are essential for dealing with suppliers and other relevant parties and exist to protect the interests of both yourself and your employees.
If you’re having difficulties putting your contact into “legal speak” or deciphering the meaning of a contract offered to you by a supplier, a corporate lawyer can help translate. Always know what you’re agreeing to before you sign anything!
We’re human, so interpersonal conflicts happen. Your legal obligations to the people who work for you may include family leave, overtime, workers’ compensation, and other issues. These can change depending on your business size and structure. You’ll want to know what obligations you have to your employees before you hire them. You’ll also want to know how to avoid liabilities if there is a complaint made against you (we hope not, but you never know).
If You Get Sued
This is a worst-case scenario for any business owner and an unlikely one at that. Still, it’s not unheard of, and you’ll want to know how best to handle it if someone tries to sue your business.
First things first, a corporate attorney can determine whether the case against you even has merit. Just because someone makes a complaint doesn’t mean it’s a valid one. If it is indeed valid, then your next step will be to figure out your options for handling it. Most disputes can be handled outside of court through arbitration or mediation. In these scenarios, a settlement may be agreed upon for a certain amount. This is a much better option than a lawsuit, which is expensive and time-consuming.
Corporate Lawyers And More In South Florida
Handin Law has been proudly serving the legal needs of Coral Springs residents for over 50 years. With knowledge and expertise, plus unmatched professionalism and compassion, our attorneys offer a variety of legal services to help you in your business, develop a will, avoid foreclosure, and more.
In need of a reliable law firm in South Florida? Call today at 954-796-9600.