Business or commercial law is the area of law that deals specifically with transactions involving two or more business entities, but also includes business start-up law, marketing and advertising, contracts and agreements, and general trade. Understanding business law and how it relates to your company and its transactions plays an important role in moving forward with your business successfully.
Contracts & Agreements
Contracts and agreements are at the core of every business. They dictate the terms under which various business transactions will proceed and outline the consequences if one or more parties under the agreement fails to meet their contractual obligations. There are many different contracts that can be used in a legal setting, including but not limited to employment contracts, nondisclosure agreements, leases for commercial real estate, licensing agreements, and sales contracts.
Properly drafting a contract that protects your rights and the interests of your business is critical, as is reviewing a contract that you’re considering signing. A detail oriented business law attorney can help you navigate through the complex area of contract law.
A significant sub-area of business law is intellectual property law. Valuable intellectual property is often what prompts a would-be business owner to get started. Often, business people have great ideas for new inventions, designs, or unique products that are not currently on the market. Authors, designers, and photographers also produce original works of value.
Protecting these original works is a critical component of business law as a whole. By working with a business lawyer who sees the big picture, and has extensive knowledge of intellectual property law, a business can ensure that its unique vision is preserved and protected from others throughout the life of the company.
Getting a new business off the ground is perhaps one of the most complex aspects of business and commercial law. This is particularly true for small businesses, since many business laws are different for the owners of small businesses when compared to the laws for the owners of large businesses, franchises, and corporations.
Choosing the right business entity for your needs is imperative, however, this can often be difficult to do. Whether you file as a limited liability company, a corporation, a sole proprietor, or a partnership can have a significant impact on how your company is allowed to do business in the future. It can also have a substantial influence on how you file for and pay taxes for your business.
In addition to choosing the right business structure, you need to be certain that you are operating under the proper business licenses. You must make sure that the property you choose to operate from is zoned for commercial use, and you must obtain the correct business license(s) for your company according to what your business is doing and where your business is operating.
Contact a Skilled Business Law Attorney
Starting a new business or watching your existing business achieve great success can be both exhilarating and satisfying. However, legal issues can easily put a kink in your plans. Whether you’re involved in a contract dispute or just aren’t sure what the best business structure will be for the type of small business you want to operate, a business lawyer can be a valuable asset to you.
The attorneys at McDonald, Rogers and Lorman, P.L.L.C. can provide your business with a general counsel, without the cost of having a general counsel for an employee. The attorneys at McDonald, Rogers and Lorman, P.L.L.C. are tech savvy, and detail oriented while staying focused on the big picture. They are well versed in all areas of business law and can provide you with comprehensive legal support and advocacy in a variety of business matters. Call today for a consultation to discuss the unique needs of your business.