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Top Five Benefits of A Business Lawyer

Posted on: November 14th, 2019 by: Kholter

A majority of business owners falsely assume a business lawyer is only necessary if a legal dispute or the threat of court emerges.

There are, however, multiple benefits of hiring an attorney. These include legal protections from litigation, legal help with taxes, and organizing your company into a corporation. Use the Oklahoma City Attorney Directory to research and hire the best business lawyer. Below are the Top Five benefits to having a Business Attorney. Beyond keeping your business out of legal trouble and being there if any arises, your business attorney can also be there to advise you on how fee for certain services, however, consider setting aside a monthly or quarterly block of time to meet with your attorney to discuss your business. These preemptive meetings can save you money in the long run. By having an attorney that is an active participant in the development of your business, they can help you identify and overcome any legal troubles that may be hurdles to your business’ success.

Our cities and state benefits overall from small businesses.

Often local initiatives are taken to encourage the growth of these companies. In Oklahoma City, the Oklahoma Department of Commerce offers the Business Expansion Incentive Program. This initiative assists in Oklahoma by investing major capital into boosting local business expansion. Even with these incentive programs, hiring a business lawyer to assist with major decisions is vital to the survival of your business. A business attorney will help you recognize opportunities, by creating a sturdy legal foundation for your company. They ensure you understand how the law influences your business. A business lawyer is available to offer council during trying times. This is done through confidential sound boarding, education provided to business owners from a legal perspective, identifying opportunities, and most importantly by creating a solid legal foundation.

Business Formation

From starting a new business, to structuring a round of investment, to negotiating the sale of your business, we can help guide you to a successful result. We can help you with any variety of business entities, including limited liability companies (LLCs), S and C corporations, limited and general partnerships, trusts, and sole proprietorships. An experienced business attorney can help with the following:

Protect Your Intellectual Property

Intellectual property (IP) includes product designs, inventions, logos, business services, original works, and trade secrets. Protecting your IP is vital to maintain your distinctive and competitive business. Depending on the type of intellectual property you have, a patent, copyright, or trademark can be filed. A business lawyer can help you protect and preserve your legal rights to your intellectual property.

Lawsuit Prevention

Every business, regardless of size, needs a skilled business lawyer on the team. Not just any lawyer, but a business lawyer with experience helping businesses identify and mitigate business risks; a business lawyer who can help reduce the risk of lawsuits and set the business in the best possible position to defend lawsuits if they should ever occur. 

Business Succession Planning

At the time of a business startup, the ending of the business can be hard to imagine. A business succession plan takes the mystery out of the life cycle of the business. Instead of wondering what will happen in case of death, incapacitation or other absenteeism of the owner, a smart new business owner builds into originating documents a plan for such eventualities. The more proactive entrepreneurs can be when starting new businesses, the greater chances there are that the business will grow and ideally, outlive them. A succession plan establishes protocol for passing on a still-viable business to new owners when the original owners die, become disabled or unavailable, or voluntarily quit the business. Business succession plans often provide for alternative ownership in case of loss of capacity or availability of the initial owners. The designated take-over owner or owners might be business partners, family members or other trusted individuals acquainted with the business. If you are just starting a business, or are ready to expand and grow your company a business lawyer is there to guide the way. 

Use the Oklahoma City Attorney Directory to research and hire the best business lawyer.

 

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