What does a Business Attorney Do?
Business attorneys provide assistance in every aspect of business formation. From zoning compliance to copyright and trademark advice to liability issues and handling lawsuits, business attorneys will facilitate a number of business practices. Business attorneys will help you (small business owners or entrepreneurs looking to form a business)with nearly every aspect of business law, including finance and banking law, business formation and organization, negotiations, transactional business law, business planning, merger, acquisition, the sale of a business, intellectual property issues, business litigation, civil law and labor issues. A business is defined as any activity that is run in a systematic and regular businesslike manner that is formed with the expectation of earning a profit under commercial principles.
Do I Need to Hire a Business Attorney?
The need for a business attorney will depend on your business and the goals you have for the entity. If you are looking to form a business, it is wise to hire a business attorney. Moreover, you will most definitely need to hire business attorneys if you are being investigated by the Securities and Exchange Commission or a customer/employee is severely hurt by one of your products or one of your procedures.
For other scenarios, the need for hiring a business attorney is not as obvious. For example, when forming a business you must understand the benefits tied-into each business formation. Are you planning on forming a partnership or corporation? Why did you choose the formation? What tax breaks does it offer? Qualified business attorneys can answer these questions and avert a plethora of legal issues that arise with forming certain types of businesses.
Business attorneys will also help with researching intellectual property issues, laws relating to hiring employees, tax issues and liability matters that may arise with forming and running a business entity.
When forming a business, you must understand all business and finance laws associated with your formation. Practicing prudence when forming a business is crucial; you do not want to face a lawsuit or an investigation without a business attorney by your side. Business attorneys, through their experience and knowledge concerning business law, facilitate the formation and ensure it adheres to your jurisdiction’s business code. Failure to hire a business attorney, and then subsequently face a lawsuit could potentially cripple your business. As a result, hiring a business attorney may serve as a safeguard; the legal professionals can support you in complex legal situations. In other matters; however, such as when forming the entity, a business attorney can ensure the formation complies with federal and state business laws. If you are unsure as to whether you need legal help, you should at least consult with business attorneys in your area to ensure compliance with federal and local business laws.
How do I Search for a Business Attorney?
When searching for business attorneys, you have to utilize all available resources, including the Internet (search engines, rating services, forums, peer review services etc.) your state’s bar association and advice offered from friends and family.
When searching for Business Attorneys in your area you should:
1. To find a list of suitable business attorneys in your area, you should first conduct Internet searches. Go to GOOGLE or other search engines and search for “business attorneys” and the name of the city or town in which you live. The results will offer you a number of qualified business attorneys in your region.
2. After gathering a list of prospective business attorneys in your area, you must review rating guides, internet forums and client testimonials to retrieve vital information and opinions from former clients. To access this information, search the business attorney’s name and “reviews” or “testimonials” in a search engine.
3. After reviewing said information, visit each business attorney’s websites to observe their biographical information, including education, achievements, case profiles and experience.
Evaluating a Business Attorney’s Personality:
Once you narrow your list of prospective business attorneys down to a handful of candidates, you must contact each professional to discuss your thoughts and concerns regarding your business. These interviews will not only provide you with vital information, but will also allow you to gauge the professional’s personality.
If you develop a rapport with the professional, you should inquire about scheduling a consultation. Consultations or preliminary meetings allow the prospective business attorney to review your business portfolio and the issues attached. In turn, during the consultation you will decide whether the business attorney is a match for your specific needs.
Consultations preview the business attorney’s ability and experience. Furthermore, a consultation will provide a preview of the representative’s personality.
When evaluating a handful of business attorneys, you must take note of each individual’s experience. Experience is the essential characteristic associated with legal aid: experience implies a thorough understanding of business law, reputability and general effectiveness.
Fees Associated with Business Attorneys:
A business attorney’s fees vary depending on the matters they preside over, their experience and the workload. Business attorneys will charge one of the following fee schedules:
Flat Fees: Under this arrangement, the business attorney will charge a flat, lump-sum fee for services rendered. Flat fee schedules are typically provided in filings that are straightforward business law matters.
Hourly Rate: A business attorney will charge clients hourly for services rendered.
Retainer Fees: Under this pay schedule, a business attorney requires the client to pay a set fee prior to the services rendered. The retainer serves as a down payment against the billing of future costs; the retainer is placed in a separate account and the fees, upon the delivery of services, is subtracted from the account as they accrue.
Business tax attorneys are those who work for businesses and who understand the tax laws. Businesses will usually use a business tax attorney when they are large companies that pay quite a bit in taxes or if they run into trouble because taxes have not been paid.
In many cases, business tax attorneys can work with entities that can help the business get their taxes reduced. Understanding tax laws and how a business can avoid paying too much in taxes is what a business tax attorney specializes in. They will also know how to negotiate settlements if a business is being fined for failure to pay the amount that is due in taxes.
A business tax attorney can work for a large corporation that has their own legal department. Most business tax attorneys work for law firms that represent businesses. Large law firms usually represent businesses and corporations instead of individuals.
The firm usually have business tax attorneys as well as others who will represent various aspects of business law. Those who are a business tax attorney usually have an undergraduate in accounting and may even be accountants as well as business tax attorneys. The firm will have a clear understanding of all areas of business tax law and how the business can save money on the various taxes that they are required to pay. Hiring business tax attorneys for a large business can save them millions of dollars a year. Having a business tax attorney on the payroll of a company can also save the company a great deal of money as well as make sure that the correct amount of taxes are being paid.