Business Law Firm

Every business, from the one-person shop to the international corporation needs to involve legal counsel at every stage of the business lifespan.  The old adage is true, “an ounce of prevention is worth a pound of cure.” 

Forming the Business

The law firm, along with other key players (accountant, financial planner, etc.) plays a vital role in educating a potential business owner about the various entities available.  Among these are corporations, limited liability companies, partnerships, and sole proprietorships.  Knowing the liability protection (or lack thereof) and tax ramifications at this stage can pay off in the future as the business grows.

Opening For Business

Properly structuring the timeline for opening a business is vital to efficient use the start-up funds.  An attorney will help in this process.

Leasing and/or Buying Real Estate

Almost every business needs physical office or work space.  The decision to lease vs. buy as well as properly handing the transaction is key to maximizing business funds and tax savings.  A good business attorney will advise accordingly.

Hiring, Managing, and Terminating Employees

Almost every employer will tell you that handling personnel matters is the least enjoyable part of the job and the most risky in terms of litigation.  Knowing the employment process, about employment contracts, employee handbooks, and the termination process is vital.  Using a knowledgeable attorney at this stage may prevent larger problems.

Business Records

Many times, business owners are unaware of the consequences of the failure to properly maintain their records, including a corporate minute book.  It takes a knowledgeable attorney to properly draft these documents, including the minutes (and no, accountants should not be doing this for you).  

Day-to-Day Matters

Matters come up constantly that the business owner may have never experienced before or may need guidance on.  Among these are: contract reviews and modifications, collections of accounts receivable, and licensing issues.

Succession Planning/Dissolution

Properly planning for the succession or dissolution of a business, well in advance, can provide certainty and peace of mind. 

Author: Brian F. Johnson (bjohnson@peorialawyers.com)

Nothing in this article should be relied upon as legal advice.  Please consult an attorney for advice tailored to your specific factual situation.