If you are starting your own business, you should consider working with corporate lawyers Charlottesville, Virginia residents trust. A mistake many first-time business owners make is not considering the legal aspects of running a company. Here are several situations where you should hire a lawyer:
Deciding on Legal Structure for Business
When you first establish a business, you have to figure out if you want to structure it as a limited liability corporation (LLC), corporation or business partnership. There are positives and negatives to each structure and a lawyer can discuss them in detail with you. For example, if you are concerned about protecting your personal assets, you may want to form an LLC. You are not personally liable for debts incurred by your business, so creditors can’t collect against your personal bank account and other personal assets. On the other hand, if your business seeks financing from external sources, it may be best to form a corporation.
Facing a Lawsuit
The idea of having your business sued is scary to think about, but it can happen. The most common reasons business owners are sued include copyright infringement, discrimination claims during the hiring process, wage disputes and property accidents. The best way to reduce the risk of lawsuits is to hire a business litigation lawyer Charlottesville, Virginia residents trust. He or she will inform you of risks that can lead to litigation and tell you steps to take if you do face a lawsuit.
As a business owner, you will likely enter into several contracts throughout the years. However, you should never sign a contract before a business lawyer reviews it. These contracts may contain complex legal jargon that you might not understand. If you sign a contract without truly understanding the terms, it could put your business at serious risk. A lawyer will carefully review the contract and make sure it reflects your company’s best interests.
Selling Your Business
If you eventually want to sell your business, you will need experienced corporate lawyers in Charlottesville, Virginia on your side. The process involves large amounts of paperwork and shouldn’t be taken lightly. A lawyer can help you fill out this paperwork correctly and efficiently and make sure you’re getting a fair deal.
Having Employee Issues
When employees become angry with you, they can do a lot of damage to your business. For example, they may give your business poor reviews on various websites if they get terminated. A lawyer can help you navigate potential problems to stop them before they occur.
If your business needs legal assistance, you should schedule a consultation with corporate lawyers in Charlottesville, Virginia today.