You may have an accountant, insurance agent, or mentor for your company, but do you have a business lawyer Memphis TN trusts? Although you may not require the advice of a business lawyer on a daily basis, there are times when their experience could be highly valuable.
At Wiseman Bray, a Memphis TN business lawyer may help you in an assortment of scenarios ranging from the incorporation process and creation of contracts, to representing you in any necessary litigation. If you’re not sure when to retain a business lawyer, consider the following reasons:
5 REASONS TO RETAIN A MEMPHIS TN BUSINESS LAWYER
1. You Are Trying to Choose the Right Structure
As a business owner, you will be required to structure your business as a sole proprietorship, partnership, LLC, corporation, or nonprofit. This is one of the most important decisions you will make during the business set up and could affect your personal liabilities, tax obligations, relevant costs, ongoing expenses, and how you legally receive funding. The right business lawyer Memphis TN has to offer may provide you with the guidance and reasoning you need to decide your business structure. Once chosen, he or she may assist in the creation and filing of any affiliated legal documents.
2. You Have Employee-Related Concerns
Depending on your business, you may be undecided as to whether or not you should hire employees or use independent contractors. With either, there are specific laws you must adhere to. Likewise, you may also want to consult with a lawyer to determine the legalities associated with the interview process, or familiarize yourself with discrimination and lawsuits. In any case, a business lawyer Memphis TN residents count on should provide you with the advice you’re looking for.
3. You Are Selling or Purchasing a Business
The sale or purchase of a business may include intricate transactions which, if you’re not familiar with them, could pose further issues or even risks. Read more about the FAQ for Starting a New Business. A good business attorney should understand these transactions as well as how to value a company, write an acquisition, transfer permits, etc. Your lawyer may also assist in the sale of your business while ensuring you get the most value from it. Specifically, a Business lawyer Memphis, TN professionals turn to can assist you with the following:
Due diligence. Prior to buying or selling a significant investment, it’s critical that a Business lawyer Memphis, TN business leaders respect verifies that all legal requirements can and will be met. In addition, any potential issues should be identified in advance of signing final agreements.
Paperwork requirements. Selling or purchasing a business almost always involves a significant amount of legal paperwork. In addition to making sure all required documents are correctly filled out, a Business lawyer Memphis, TN locals rely on in similar scenarios can submit it to the proper authorities.
Review financial agreements and consider tax liabilities. What may seem like a good deal on the surface can be fraught with expensive taxes, including fines and penalties. A Business lawyer Memphis, TN community members recognize for their experience in mergers and acquisitions can carefully review the details of an impending sale or purchase. In this way, he or she can identify potential issues before your company makes a final commitment.
4. Your Company Is or Will Be Involved in Litigation
When you own or operate a business, there is a risk of having to enter into litigation of one form or another during the life of that business. Unfortunately, this is not an uncommon experience as there are many reasons for why this can happen. Hiring a business lawyer Memphis, TN company owners turn to when facing litigation can result in long term cost savings. A seasoned lawyer who represents your best interests can reduce or eliminate the need for costly lawsuits. A Memphis business lawyer from Wiseman Bray can negotiate settlements when appropriate. He or she can perform a strategic analysis of your company’s business practices to anticipate and solve potential issues before they arise. Here are some of the most common scenarios for when a Business lawyer in Memphis, TN is invaluable:
5. Secure Your Company’s Intellectual Property
Many companies, even those that are not media or design-oriented, have at one time or another the need to register or protect a product or service. This is especially true when the company is newly formed or develops a new property. A business lawyer can help you register the product or service for copyright protection, patent, or a federal trademark. For example:
More Reasons to Hire a Business Lawyer
Additional reasons to consider retaining a Memphis TN business lawyer may include:
Having a Memphis TN Business Lawyer on Your Side
Whether you’re a small business owner with a few employees or a large corporate company, a business lawyer can be a great asset in a number of legal situations. If you have not developed a working relationship with one, you may want to consider doing so. To schedule a consultation with a business lawyer Memphis TN residents respect, please call (901) 372-5003.