As you have just learned, business ventures involve quite a few legal maneuvers and know-how. While entrepreneurs must wear several hats in order to achieve some level of success, sometimes it's best to leave the more complicated matters to the experts. Visit FindLaw's Business and Commercial Lawyer Directory for a qualified attorney near you or learn more about state-specific laws on our closely held business legal answers page.
Many intangible assets of a business should be legally protected. A company's name, logo, brand name, and distinctive goods and services are entitled to copyright protection. Proprietary computer software, semiconductor chip mask designs, vessel hull designs, and many other creations may be eligible for trademark registration. Patents are often thought to cover only machines and other manufactured products, but can also protect processes, such as a method for refining petroleum, or new compositions of matter, such as chemical compounds or mixtures. Trademark, copyright, and patent registrations can help a business protect the things that give it a competitive advantage in the marketplace.
Before we dive deep into business law, let’s answer what might sound like a simple question: what exactly is a lawyer? The truth is there are many, many types of lawyers with different specialties and skills.
To put it simply, Portland business attorneys help business owners solve problems. Perhaps more importantly, business attorneys help business owners understand the problems they’re facing and which problems they might face in the future.
Yes– but only when we need to. Don’t get us wrong – it’s not that our business attorneys aren’t expert litigators who take great pride in representing our clients in court in Oregon and Washington. But often times there’s a better solution to a dispute and save our clients’ valuable time and money.
At JJH Law (as a small business ourselves) we understand the importance of flexible fee structures that allow growing businesses to manage costs effectively. We offer:
You definitely do not need an attorney for every single step of setting up and running your business – any smart business owner is capable of filing simple business or IRS forms – and there are certainly many straightforward and self-explanatory matters that could be handled without spending hundreds of dollars on business attorneys.
Here are some issues that business owners might tackle by themselves, but then realize it makes more sense to get professional help:
You are inevitably going to face certain issues that are too complex to handle on your own. At that point, your best move is to retain a business lawyer. Here are some common situations when you might need help with your legal needs:
When you decide it’s time to hire a small business lawyer for legal advice, it’s best to give yourself plenty of options. Meet a few different attorneys and choose the one who is a right fit for your business and you think you would have a good attorney-client relationship. Take advantage of your local turf and network, network, network.
Talking money is going to be on top of your list when you meet a prospective small business lawyer. You are working on a tight budget, so attorney fees have to be one of your top concerns.
You don’t need an attorney for every legal issue that comes up in your business, but when you do, it's good to know where and how to find the one who’s right for your business.
He or she can help you choose the right corporate structure, sell your business, and protect your intellectual property.
If you’re starting up a small business, or currently own one, you might find yourself dealing with things that are more complex than anticipated. Small business owners often forget that an attorney can be a wonderful asset for managing a business, especially when you’re just getting started.
One of the many steps that you must follow as a small business owner is choosing which business entity to establish . You can choose from a partnership, corporation, and limited liability company, among others. The business entity that you choose will have important implication on your business’s tax and liability obligations.
Partnership. One of the choices for your business entity is a partnership. If you’re interested in forming a partnership, it’s important to understand that there are two types of partnership: general and limited. To form a partnership (either kind) you need at least two owners. The major difference between a general and limited partnership is ...
LLC is an abbreviation for “limited liability corporation” while INC is an abbreviation for “incorporated.”. Similarly, both entities are formed by filing the required paperwork with the California Secretary of State’s Office. Both structures are designed to protect the directors from certain liabilities.
Corporations. Corporations are authorized to sell shares of stock to investors. The corporate structure allows stockholders to transfer stocks easily to other owners without a lot of red tape. That’s why this structure is a popular choice for organizations that are going after investment income.
The owners of an LLC are called “members, ” and instead of shares, each member owns a designated portion of the company called “interests.”. Interests in an LLC may be more difficult to move than shares in a corporation. An LLC’s operating agreement will generally define the terms that must be followed.
If you’re starting a company, a lawyer can guide in establishing various corporate governance practices that successful businesses use in their daily operations. Some of these guidelines include taking minutes of meetings, holding elections for various posts in the business and holding annual shareholder and delegate meetings.
A good business lawyer will also help in drafting employment agreements that comply with the law while ensuring they are in the best benefit of the business. These may include non-disclosure agreements, employment contracts, and non-compete agreements.
A lawyer’s job will be to set up your business so that it can have a strong legal footing right from the get-go. A good attorney can advise you on what you’d need for you to be legally in business, including matters to do with registration, licensure, constitution, memoranda, and so forth, all depending on the type of business organization you ...
When starting a business that involves customer information, the lawyer will be able to draft policies that will ensure that customer, user, or client information is protected under the law. He/she will be able to identify which of the customer information needs protection in your business.
No one starts a business with failure in mind. However, by having a lawyer around, your business will be able to adopt sound exit strategies that will help the business limit its losses. For instance, they could help with filing for bankruptcy, which protects the business owners from further liabilities during its dissolution.
Starting a business can have many challenges, one of which is defamation cases that are rampant in very competitive fields of the market. To protect your business from such cases, a lawyer will be able to draft policies that protect the business from defamation.
However, there are many ways that lawyers can help small businesses.
A business lawyer may be able to advise small business owners of their responsibilities. Additionally, small business lawyers may assist clients in drafting an incentive plan to help motivate employees.
If sued, the business stands to have its corporate veil pierced and exposes corporate officers to personal liability.
However, business owners will want to ensure that their business ideas and trade secrets are protected. Business lawyers can help draft non-disclosure agreements so that businesses can expand without having to worry about having their information stolen.
Client Agreements. As the business continues to grow and become more successful, it may take in new clientele. To protect the business, a business lawyer may draft specific agreements between the business and the client. By having the terms written upfront, disagreements and misunderstandings can potentially be avoided.
1. General Business Lawyer. As the name suggests, a general business lawyer can provide legal advice on a wide range of matters. This type of lawyer has a hand in every legal discipline. If your business doesn’t deal with special circumstances, a general business lawyer may be well suited to your purposes.
However, if your business is subject to a lawsuit, you’ll be relieved that you hired a lawyer. When evaluating lawyers, you should ask a lot ...
It’s well known that hiring a lawyer can be expensive, making it challenging for some small business owners to retain their services. However, if your business is subject to a lawsuit, you’ll be relieved that you hired a lawyer.
In addition, some lawyers are knowledgeable about tax issues, even if they aren’t accountants. They may have handled legal tax matters for other business owners and can make sure you don’t run into the same issues.
People sometimes wonder what types of lawyers are available to them. Lawyers often specialize in either business law or personal law. For this reason, you should search for lawyers who have business law experience.
Employment and Labor Lawyer. Using an employment and labor lawyer only makes sense when your business has employees. If it does, your business should comply with state and federal laws. An attorney in this area of the law can help you draft employee manuals and ensure safety standards are in place.
When you buy and sell businesses, you’ll negotiate for the property and assets of those businesses. It may not always be clear what you’re entitled to during these negotiations. It pays to have a mergers and acquisitions (M&A) lawyer representing your interests in the transactions.