A business lawyer will advise you on many different aspects relating to its operation, such as contracts, labor, employment, legal liability and properly insuring the risks associated with running a business. A small business owner’s legal obligations and risks generally depend on the type of industry, inherent risks involved in the type of business, and state laws.
Anyone starting a small business will likely be confronted by one or more of the following legal issues:
- Choosing the type of legal entity to use: partnership, limited liability company, or corporation;
- Hiring/managing employees in accordance with state and federal employment laws;
- Extending credit and collecting on past due amounts;
- Complying with health and safety regulations;
- Maintaining the required level of workers’ compensation and other insurance coverage.
- Entering into agreements with vendors and/or customers.
While many activities can be performed without a lawyer, including the very act of incorporating, doing so is not good business practice and may expose the owner(s) and their families to unknown risks. Furthermore, many issues are too time-consuming, complex, or legally important to handle without the assistance of a business lawyer. Some of these issues include: defending against wrongful termination claims by former employees, property insuring your various risks, or negotiating the acquisition of another company’s assets. While seeking counsel for complex legal issues is smart, retaining an attorney to help prevent legal problems from occurring in the first place is even smarter.
The attorneys at Young & Perez will help guide you through all of the legal issues encountered in running your small business.