- Start a Business
- Business Ideas
- Business Financing
- Marketing & More
- About Idea Cafe
Why The Success Of Your Business Lies In The Hands Of An Attorney
by Andrew Bellow Mon, 03/13/2017 - 14:18
For those who have been in the business world far too long, one fact is evident. The corporate arena is more than just about making profits. A number of factors influence business. Even more, the corporate realm is governed by a set of rules. From employment laws, tax laws and labour legalities, a business entity needs to comply with a certain set of rules to be on the safe side of the law. At a glance, one might be tempted to think that staying in touch with a reputable law firm isn’t a necessity for their business. They only realise how wrong they have been after being slapped by a lawsuit. For someone who treasures his business empire, you have every reason to know the possible instances when your company might be in need of attorneys.
At the initial stages of a business, the main concern is growing it to profitability. Over time, it becomes necessary having a detailed plan on succession and transfer of ownership. Whether you are selling part of your business to an interested party or passing it down to the next generation, a business attorney can help you prepare a detailed plan. With the help of experienced attorneys, you will find this process less strenuous. Among the common areas handled by such attorneys include;
- Limited family partnerships
- Sell/Buy Agreements
- Delayed Compensation plans
- Charitable trusts
Business transactions happen, almost daily. This includes any form of transaction a business might possibly engage in and might range from purchase of equipment, buying of another business, sale of business asset or even lending. By reviewing the transactions from a legal perspective, business attorney can offer advice and serve as witness for such agreements. They will also ensure that all the post-closing matters are sorted out to completion. It is particularly important when carrying out transactions that are likely to change the normal operation of the business. Without legal arrangements, involved parties might breach contracts leading to loss of assets and even the entire business.
All employees would want to work in companies that respect their rights and have sustainable employee contracts. To draft the best company laws, the services of an attorney are necessary. From drafting employee handbooks, employee benefit planning, and drawing laws to protect the company from exploitation by employees, a business entity has so much to benefit from the services of an attorney.
A safer working environment is the right of every employee. While it is the company’s obligation to ensure everyone remains safe while at work, some employees can take advantage of that to sue company for negligence unnecessarily. For instance, when one sustains personal injury while at work, he might seek compensation from the company even when it was his own fault. For a business having close ties with personal injury law firms like http://mrpersonalinjurylawyer.com/, you will not be forced to offer compensation unnecessarily.
To thrive in business, you need to be aware of all the laws and regulations of governing the practice. With the services of an experienced attorney, you can be certain of remaining on the safer side of the law, every time.
About the author
Andrew Bellow is a highly experienced business attorney. He has worked for firms, especially on personal injury cases. If he is not practising law, he is probably hurdled in his office, writing. You can check some of his contributions at http://mrpersonalinjurylawyer.com/.