What Exactly Is Business Law?
Business law is a broad legal field encompassing all laws that determine how one can legally form and run a business. A successful business person will have a decent grasp of the laws and regulations – local, state, and federal – by which they need to abide. However, the law is complex and most people are going to need legal counsel at some point in order to run a business successfully. This is where business attorneys come in.
What Can an Idaho Falls Business Attorney Do for You?
Whether you’re just starting a business or have owned one for some time, there are many times in which it is not only wise but crucial to hire a business attorney. Here are some of the basic areas of business that require legal advice and guidance.
Business & Partnership Formation
An Idaho Falls business attorney can help you choose the most ideal business structure – C corp, S corp, LLC, etc. – when forming a new corporate entity. Depending on the circumstances and goals of your business, a business attorney can help you decide on the business structure that will bring you the most benefits and ensure the highest level of success.
In the future, business restructuring may become necessary. A business attorney will help you at this time as well.
Starting a business means complying with a number of filing requirements. There are also various regulations to abide by, as well as permits and approvals you need to attain. A business attorney can make sure all of this is taken care of.
At times you may need to appear before a public body or legal board, in which case your Idaho Falls business attorney will represent you.
Paying taxes is very different for a business owner than it is for an employee. Business attorneys can help you stay in compliance with the law when it comes to payroll deductions, quarterly taxes, and other aspects of income. They can also explain why these things are required.
Employment Issues – Hiring & Firing
Here we find another aspect of owning a business that can quickly get you into legal trouble if you don’t have a solid understanding of certain local, state, and federal laws. Not only can you accidentally get in trouble for perceived discrimination or unfair treatment, but certain employment agreements and contracts can disadvantage you if not written up and reviewed by an Idaho Falls business attorney.
Further personnel issues that can be tricky include:
- Sick leave
- Family leave
- Harassment policies
- Paid time off
Your attorney can help you construct policies that will both keep your employees happy and help you run your business efficiently.
Buying & Selling
If a corporation is buying or selling a company, an Idaho Falls business attorney will help cover all of their bases and keep them in compliance with federal, state, and local laws. He or she can help create and review contracts and ensure the terms of sale are clear and concise. A business attorney can also negotiate sales and make sure the corporation’s interests are protected.
Idaho Falls business attorneys can represent you in a wide range of legal cases. Some of these many litigation cases include:
- Disputes between co-owners, partners, and shareholders
- Employee disputes
- Breach of fiduciary duty claims
- Shareholder derivative actions and disputes
- Partnership disputes
- Non-compete agreement and trade secret disputes
- Protection of the rights and reputation of your business; fraud, defamation, theft, contract interference, trademark and intellectual property disputes, etc.
- Problems with customers
- Breach of warranty claims
- Product liability and manufacturing claims
- Malpractice or professional negligence
Idaho Falls business attorneys can help you advocate to officials in the government. For instance, if there are local, state, or federal regulations that are holding you back from pursuing a business interest, your business attorney can help you advocate to have something adjusted or changed.
Business Attorneys Stop Problems Before They Happen
One of the greatest benefits of retaining a business attorney is that he or she can spot problems before they arise. They can point out if you’re missing certain permits or failing to abide by certain regulations and help you change course before you get into legal trouble. They can also find aspects of your business structure that could lead to problems – legal or financial – in the future.
This is the main value an attorney provides – the prevention of legal problems. If, for example, you find yourself in a gender discrimination lawsuit over questions asked during a job interview, your attorney can represent and defend you in court, but mitigating legal damage is lightyears from preventing it. By retaining an Idaho Falls business attorney and consulting them before interviews, hirings, and firings, you can prevent these types of lawsuits from ever occurring in the first place.
MZJ – Idaho Falls Business Attorneys
Whether you’re starting a new business or have owned one for some time, we can help you in all areas of business law. MZJ offers legal services with your perspective in mind. We will ensure that business contracts are written up so as to benefit you as much as possible. We will give you the legal counsel you need to stay in compliance with the law and prevent legal problems from arising. If legal problems do arise, we will bring detailed and aggressive prosecution or defense strategies to the courtroom.
Contact our team here.