The Right Business Lawyer Helps Drive Your Success
Having a trusted business lawyer is essential with all the laws and regulations, ranging from local to federal. As a business owner, especially a small business owner, it's nearly impossible to stay aware of all the potential legal issues involving business. That's largely because business law cover so many areas, including the following:
- Intellectual property
- Real estate
- Employment
- Bankruptcy
- Contracts
So as you can see, business overlaps with numerous other law practices. At times, it can almost feel like you need a staff of lawyers.
Our firm works with companies, both small and large. And although our offices are in Norristown and Doylestown, PA, we serve clients regionally and nationally.
Equally important, we offer a wide range of practice areas. So we can support our clients with numerous legal concerns.
How Does Business Law Differ from Corporate Law?
Many people get confused by the distinction between business law and corporate law.
Corporate law focuses on the legal rules of formation, merger, acquisition, sale, bankruptcy, etc. It incorporates how the business will function. Federal and state governments establish corporate law.
On the other hand, business law covers the legal aspects of marketing, production, employee relations, safety, health, etc. Consequently, it focuses on policy enforcement and business functions. The Uniform Commercial Unit (UCU) establishes business laws.
Critical Legal Concerns Requiring the Support of a Business Lawyer
Business law helps to ensure that companies operate fairly and ethically. Additionally, it provides that companies don't engage in activities harmful to consumers or other stakeholders.
Business law regulates business practices. It maintains order, protects rights and liberties, establishes standards, and resolves disputes. In addition, it determines the rights of the company and those of the people working there.
As a business owner, it's critical to understand legal considerations that can impact your company. The best way to do that is by having an experienced business attorney on staff or through a qualified law firm. Otherwise, you can quickly run into legal issues impacting your business operations.
Some of the most common functions of business law include:
Business Formation
Every business requires a form, whether a sole proprietorship, limited liability corporation, S-corporation, partnership, or C-corporation. Each business entity has reporting and tax requirements that differ. Again, a business lawyer can help determine which business structure will serve you best when starting a business.
Contracts
Businesses use contracts to buy and sell goods and services, to hire employees, and to enter into partnerships with other businesses. Those contracts ensure that all parties involved understand their rights and responsibilities. Moreover, they ensure that all parties are held accountable if they fail to meet their obligations.
Contract creation and, at times, business litigation are aspects of business law. However, iron-clad business contracts are the best way to protect your organization. So, the best way to ensure an iron-clad business contract is with proper legal representation.
You can avoid potential liabilities by having a business lawyer draft and review contracts.
Employees
Business law is involved with compensation issues facing an organization. State and federal laws govern compensation and impact minimum wage, pension plans, overtime, and discriminatory practices.
Business law also plays a role in many other employee concerns, including contracts, non-compete agreements, and termination. Consequently, a good business lawyer can also support your business by drafting employee manuals. Those manuals govern dress codes, paid time off, sexual harassment, and more.
Shareholder Rights
The rights of shareholders depend on the type of stock owned and state laws. Shareholder rights get assigned in order of absolute priority. However, all shareholders are entitled to certain rights. They include the following:
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- Holding meetings
- Ability to dissent
- Transferring ownership
- Filing suits for wrongful acts
Taxation
Understanding taxes is one thing. However, making sure you comply with tax laws is another. In addition, business taxation impacts your company's costs.
A business lawyer can help navigate tax obligations attached to purchases and sales of businesses and business transactions. They can also help you take advantage of deductions and tax credits to improve your bottom line.
The reality is that you may not require a business lawyer for every situation. But issues arise where the complexity and time requirements demand the service of a qualified lawyer.
Dispute Resolution
Another function of business law is resolving disputes between businesses and between businesses and consumers. When disputes arise, business law provides a framework for resolving them. This may involve going to court, but it can also involve mediation or arbitration.
Protecting Intellectual Property
Intellectual property includes things like trademarks, copyrights, and patents. Businesses rely on intellectual property protection to prevent others from unfairly profiting from their ideas or inventions. Without intellectual property protection, businesses would have little incentive to innovate or create new products or services.
Fair Competition
Business law prohibits businesses from engaging in unfair competitive practices, such as price fixing and market allocation. Additionally, there are laws that require businesses to disclose certain information, such as their pricing and terms of sale.
Why Work with Our Business Lawyers?
Our business lawyers and corporate attorneys provide companies of all types and sizes with efficient and precise commercial law solutions. Those companies run the gamut from large and limited liability corporations (LLCs) to nonprofit organizations and web-based businesses.
Those businesses are based in Pennsylvania, Delaware, New York, New Jersey, Maryland, Massachusetts, Washington, DC, etc. So, we're familiar with starting and running a business governed by Pennsylvania laws. However, we're equally aware of laws in other states.
We support those clients with a variety of legal services:
- Business & Commercial Litigation
- Business Contracts
- Business Formation
- Business Restructuring
- Business Sales
- Corporate Governance
- Franchise Law
- General Counsel Legal Services
- Joint Ventures
Talk to a Business Lawyer Near You
Call our local law offices if you need a business lawyer in Bucks or Montgomery County. We also support clients nationwide. We've helped many businesses wade through complex business law issues.
In addition, our varied legal services allow us to access expertise outside business law concerns to deliver broader legal counsel.
