What Factors Should I Consider When Hiring A Business Law Attorney?
A business owner should look for an attorney regularly counsels and represents business or business owners. In addition, business owners should be wary of a business attorney who claims to know everything about every subject. I regularly represent businesses and their owners in forming businesses, negotiating and drafting contracts, and litigating business disputes. However, I am not a tax expert, so I will refer my business clients to a CPA, tax attorney or other competent tax advisors to get advice on the tax ramifications of their business decisions. Similarly, when my business clients need to patent an invention or register a trademark, I will refer them to an intellectual property attorney. The important thing for the business owner is to get expert advice from the appropriate experts, and as an attorney who practices in this area, I will offer that advice when I can, and will refer them to other experts when the need arises. Unfortunately, not every professional operates this way. There are accountants, document preparers and others who will offer limited services to get a business off the ground. The danger in doing it that way is that those people do not always know the legal ramifications of the steps they recommend. I always that my business clients get the input of the professionals with an appropriate level of expertise, and that includes the recommendation that they do not take legal advice from someone who is not a lawyer.
One example showing the wisdom of retaining a business attorney is the situation where a new business is going to be set up with multiple partners in the business (or more than one member of the LLC or multiple shareholders of a corporation). In these cases, every person involved will want to make sure that appropriate documents are in place (such as a shareholder, operating or partnership agreement that will clearly define and govern the relationship between the owners of the business. Such documents will clearly establish what everyone’s rights and responsibilities are, such as: (1) What will happen if one of the owners of the business becomes disabled or dies? How will their ownership share be handled so that the business can keep going and not have to shut down? (2) What will happen if one of the co-owners wants to leave the business? Will she be able to sell her share to just anybody or will the other partners have the right to buy her share? And at what price? (3) What will happen if the owners want to bring on a new partner at some point in the future? These are just a few examples of how working with an experienced business attorney can be essential to the ongoing success and viability of the business.
Additional Information On Business Formation In Arizona
If a business owner has any questions (and there should always be questions), he should not hesitate to get the input of an experienced business attorney. The last thing the business owner wants would be to put her blood, sweat, and tears into her business, only to find later that she has missed some crucial step or did not adequately address some scenario that causes her to lose everything. Working with a business attorney at the beginning can allow the business to address these contingencies upfront, giving it the best chance of avoiding or minimizing the distractions and the drain on resources that comes when the owners are fighting.
For more information on Hiring A Business Law Attorney In Arizona, a consultation with a business attorney is your next best step. Get the information and legal answers you are seeking by calling (480) 378-0466 today.
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