The reality is that many businesses seek the services of lawyers only when they are experiencing legal issues. It is easy to prioritize other activities, such as human resource management and marketing, and forget about legal matters, especially if they are not of immediate concern. However, this approach is reckless. Business owners should understand that working with lawyers is vital and can protect their entities from potential problems.
A lawyer is the last thing that most people running businesses want to think about. However, intelligent business planning always includes hiring the services of qualified, experienced, and professional advocates. Running an organization is stressful, especially if it involves dealing with lawsuits. Seeking the assistance of Parker Waichman can help the firm in different ways, including;
• Incorporation
People start their businesses differently. Incorporating firms, such as partnerships or corporations without the lawyer’s assistance, is risky because the individuals involved can make errors that might cost them in the future. For example, they can experience issues with taxation, documentation, and compliance.
Hiring an advocate from Parker Waichman during incorporation is vital because he or she can help the investors select the proper corporate structure and appropriate location. These experts can also advise on the necessary documents and laws to be followed.
• Corporate Governance
A business needs legal services throughout its life. Advocates help organizations comply with different business and state requirements, such as taxation and holding periodic director meetings. Additionally, involving these professionals in daily activities ensures that it remains updated on the changing laws and protects its corporate status.
• Intellectual Property
Every business has assets, such as the logo, inventions, and brand name, which require legal protection. Involving Parker Waichman lawyers helps the firm to trademark or copyright these assets and develop an effective technique to implement the protective marks. Legal services in this process also boost the company’s competitiveness in its respective industry.
• Settling Disputes
Encountering disputes is inevitable for people operating in the commercial field. Partners, employees, and competitors disagree all the time. Hiring the services of a corporate law firm, such as Parker Waichman, helps the business owners to acquire advice on these disagreements. These corporate lawyers handle the challenging events involved and allow the business owner to focus on running the business.
• Employment Agreements
Employees are valuable assets for every business. Their knowledge and commitment contribute significantly to the smooth running of the business. For this reason, employers protect them by signing non-disclosure agreements. However, sometimes employees leave and expose the company’s secrets to their competitors. Lawyers assist the firms to comply with the applicable laws when handling this situation.
• Reviewing Legal Documents
Businesses often sign documents, such as commercial property agreements and contracts with their employees, shareholders, and suppliers. A lawyer helps the firm to ensure that the contracts are legally sound to avoid contractual disputes. Engaging Parker Waichman in this process makes it easier for the company to run smoothly even when one of the parties violates the documents’ terms and conditions.
• Employment Issues
Recruiting, hiring, disciplining, and firing employees are challenging processes that can expose a company to a lawsuit if not implemented properly. Every business requires legal advice to ensure that it complies with the outlined federal and state law regarding employment.
An advocate helps the business understand the right termination procedure to protect itself and the workers’ dignity. An employee can rightfully sue their employer if he feels that they were fired illegally. These professionals also guide the company on how to protect and retain valuable employees.
• Advice on Owner/ Partner Exit Strategies
Most entrepreneurs focus on starting and running the firm and fail to consider the consequences of one or more shareholders leaving. This event might affect the business’s continuity. Business owners who engage corporate lawyers in their work receive quality advice from these experts in case of a sudden exit.
For example, they develop buy-sell or buy-back agreements to allow their partners to sell their shares easily. These contracts protect the principals from legal entanglements and the company from financial burden. Legal assistance ensures that the business operates smoothly with or without one of the initial partners.
Conclusion
In conclusion, all businesses require legal expertise, regardless of their size. Lawyers assist companies in establishing a concrete foundation, run smoothly, and handle legal issues. Business owners should involve the advocates when starting the firm and retain the relationship throughout its life. It will allow them to entirely focus on running the enterprise as the lawyers handle employment, partner exit, dispute, intellectual property, and contract issues.
