The Different Types of Lawyers for Small Businesses

Do you own or manage a small business? Are you wondering which legal services you will need in the future?

Believe it or not, a trustworthy lawyer is a must for your small business. They can keep all of your processes above board, and help you avoid losing your company if someone takes legal action against you.

What types of lawyers are available for small businesses, and what do you need to know about hiring business attorneys?

Let’s take a look.

1. General Business Attorney

General business lawyers, such as those at Operating Agreements LLC, can start by helping you decide which type of entity you will operate as. The structure that will best suit your needs could be a Limited Liability Company (LLC,) corporation or partnership.

Your attorney can then help you create an operating agreement. These can provide an outline of your business plan and regulations. It serves as the contract among the owners and members of your company.

Your general business attorney may also help you to draft shareholders’ agreements or founder’s agreements. 

Once your company has been established, a general business attorney can help you to keep the complete records required for good business compliance. These could include record books, meeting minutes, and resolutions.

Your general business attorney can help you when you’re considering raising capital. They can also help you with negotiations if you’re entering into a partnership or acquiring another company.

Negotiations, letters of intent, and deal documents should all be overseen by your lawyer. Your attorney can also help with due diligence.

Your general business attorney can help you dot your i’s and cross your t’s with a number of other important documents. These include employment agreements, technology matters, and real estate documents.

If your company isn’t large enough to have a full-time lawyer, a general business attorney can be hired whenever you require legal assistance. During these litigious times, it’s critical to have the documents in place before you start turning a profit.

2. Tax Lawyer

Some businesses hire an attorney separately for taxes. They can help you comply with tax codes and avoid litigation. An experienced tax attorney can also help you take advantage of a number of deductions, credits, and exemptions. 

Your tax lawyer can help you devise tax-savvy strategies if you plan to buy, sell, or expand your business. If you’re ever audited, it will be crucial to have a qualified tax attorney on your side.

3. Intellectual Property Lawyer

An intellectual property lawyer may be necessary if your company has patents or a trademark. These may be logos, phrases, or designs that require copyright. Or you may have invented a unique product you want others not to make.

The right attorney can help protect your intellectual property. They can also help to shield you against legal liability and increase the chances of your business becoming successful.

4. Real Estate Attorney

If your business owns or leases property, you may need to have a qualified real estate attorney on your side. In fact, many states require a real estate lawyer to be present when a property transaction is taking place.

A real estate attorney is an expert in areas like zoning, deeds of sale, and property taxes. You won’t want to attempt to draw up documents yourself as there are often items specific to your geographical area. A qualified attorney will know all of the ins and outs.

5. Employment And Labor Lawyer

As your business expands, you may plan on taking on more employees. The right labor attorney can help you with drawing up contracts, creating safety standards, and firings.

The right employment attorney can help you avoid wrongful termination or discrimination lawsuits. They can ensure you are complying with local and federal laws and following all of the right processes.

6. Mergers And Acquisitions Lawyer

A lawyer who specializes in mergers and acquisitions is someone you may wish to hire as later on. There are a number of complications when it comes to buying or selling a business. 

The right mergers and acquisitions lawyer will help you to draft and negotiate agreements for the sale of businesses. They can also advise you on employee rights.

These attorneys do specialized, meticulous work. If you are planning on buying or selling, you’ll need to know an attorney with mergers and acquisitions expertise.

7. Contract Attorney

Some lawyers specialize in contracts. They can help you create items specific to your business and its needs.

Contract attorneys can help with enforcement and disagreements over contract terms. They may also sometimes get involved with litigation if contract enforcement is called into question.

Hiring a contract lawyer can help you to avoid risks and costly disputes. They can make sure the wording is thorough and correct.

If you try to use a template rather than hire a lawyer for contracts, you could be signing yourself up for trouble. You may be including unnecessary obligations or leaving yourself no recourse if the other party doesn’t comply with the agreement.

If you want an expert who can help you carefully draft a contract in your favor, make sure you hire a contract attorney.

Types Of Lawyers For Business

If you’re starting a business, chances are you will need at least some legal representation. There are many types of lawyers available to you. Choosing one with the right expertise is key to your company’s financial future.

Don’t stop getting smart about your business and lifestyle now. For more great advice, read our blog today.