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Woodruff Utah

Business Transactions - Your Lawyer's Role

 

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Competent business attorneys are a great addition to your team of advisor's when buying or selling a business. Attorney's can cover your assets and help make a well structured deal, air-tight. When it comes time to draft agreements and close a deal you have to take precautions that you are not leaving any loose ends. You do not want any loopholes left open in your purchase agreements, stock sales, leases, or otherwise have any business liabilities that could come back to haunt you in the future.When looking for a business attorney to help you with the purchase or sale of a business it is a wise choice to use an attorney with acquisitions or corporate transaction experience.Oftentimes a party will have a relationship with the family attorney who does a great job handling matters of taxes, real estate, wills and things of this nature, but will end up winging-it when assisting a buyer or seller of a business. Buying or selling a business requires a specialist.Corporate transaction attorneys will help you with your letter of intent, employment agreements, and non-compete agreements. They will guide you in due diligence by reviewing loans and leases.The buyer's attorney will customarily draft a purchase and sale agreement and take care of the closing procedures for his party.If you're retaining a general practice attorney to handle this for you, you're really just paying for your attorney's education. Just like there are doctors that specialize in all forms of medicine. The vast areas and specialties of law keep any single attorney from being good at all of it.A real estate attorney will seem like a natural choice as well, from the sense of "Closing" a deal, especially in the case where smaller business a real estate broker is representing a party, but you still have to answer the question of competence handling the sale of a business or corporate entity.Use your best judgment.

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Fruitland Utah lawyer for business lawsuits

 

Fruitland Utah

When is a Business Lawyer Needed?

 

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Have you ever wondered about what a small business attorney is? Well, if you have, then welcome! A small business attorney is a person that went through years of schooling to get his or her degree in business to be able to learn and grow as a businessperson.Small business attorneys have all sorts of duties. They find information about how to start a corporation, partnership, or sole proprietorship, franchises, general business law, and taxation. They can study their processes and regulations in order to assist people in a more explainable manner. Small business attorneys give individuals the tools and advice in order to help their business grow. With that being said, if you want to start your own business, think about creating a partnership. When creating a partnership a person can find the assistance they need from a small business attorney and the attorney can help out with the important filings that you need for a small business.There are of course other orders that have to be met by the state of California in order for businesses to be accepted. Among them are that corporations and companies file a form called a "statement of information". Your small business attorney can help you out by explaining to you which forms you need to use in order to file your papers. The attorney may also tell you that you can fill out the papers at the secretary's main website.Small business lawyers concentrate on many factors that have to do with businesses. They know about sole proprietorships, partnerships, LLC'S, corporations, nonprofit corporations, business contracts, hiring workers, and risk management for your business. Small business attorneys deal with and cover many of these situations no matter what type of company it is.A small business is considered small based on certain standards that have to do with various industries in relation to the state of the economy. The laws and the rules that your business has to follow depend on each state, the legal formation of your business, and the nature of the product and service your company offers to people. Since the laws change year after year, there is no way of keeping a checklist as it may have old laws and regulations from the past.That is why if you are planning on starting a small business of your own it is best if you obtain a small business lawyer in order to have a clear sense and not fall into any serious business trouble that you may have if you do it on your own. A small business lawyer does not only give you advice and counsel about the laws that have to do with owning a small business but they also represent you when any legal problems occur.You have probably heard, in the past, about the many different types of insurance that exist today. But have you ever heard of a process called insurance claims? An insurance claim is a request made to an insurance company. It can be any type of insurance but, mainly, it is a person asking for payment based on the regulations of the insurance policy. In other words, insurance claims are then reviewed by the company for their acceptance and then once that is finished it is finally paid to the insured or the requestor.Insurance can cover everything from death benefits on life insurance policies to routine health tests for your well being at your local doctor. On the other hand, claims are filed by third parties for the insured person. There are many types of insurance available, for example, health insurance, disability, auto, life, home, and car accident.The main function of business law is to cover all laws that govern any business and commercial transactions. It is also thought of as being a civil law that revolves around both private law and public law. Within business law there is something called commercial law, which has two elements; a principal and an agent. This mainly has to do with things like carriage by land and sea, merchant shipping, fire, life, insurance accident, bills of exchange and partnership.Other countries have made their own civil codes that communicate statements of their own commercial law. In the United States, commercial law is part of the United States Congress and its power to control interstate commerce. A lot has been taken care of in order to better the unity of commercial law in the United States.

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Eden Utah general counsel

 

Eden Utah

Small Business Attorney

 

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Among the countless worries for entrepreneurs who are starting or are already running a small business is the question of whether they need a business lawyer. The perception is that attorneys charge high rates and many small businesses don't have much, if any, extra capital with which to pay lawyers. As a result, most small business owners only hire an attorney experienced with business matters when confronted with a serious legal problem (e.g., you're sued by a customer). However, legal help is a cost of doing business that often saves you money and helps your business in the long run. While you certainly don't need an attorney for every step of running your business, an ounce of prevention is worth a pound of the cure. This article will explain when you can cover legal issues on your own or with minimal attorney assistance and when you will definitely need a business lawyer. Issues You Can Handle on Your Own There are certain matters that are fairly straightforward and/or not unduly difficult to learn and therefore do not require the services of an attorney who charges at least $200 per hour. There are enough expenses associated with running a business, why not save yourself a load of money and do it yourself if you can? The following is a list of some tasks that business owners should consider taking on themselves (with the aid of self-help resources, online and in print): Writing a business plan Researching and picking a name for your business (previously trademarked business names can be researched online) Reserving a domain name for your website Creating a legal partnership agreement, limited liability company (LLC) operating agreement, or shareholder's agreement (see Choosing a Legal Structure) Applying for an employer identification number (EIN), which you will need for employee tax purposes Applying for any licenses and permits the business requires Interviewing and hiring employees (there are federal and state anti-discrimination laws which regulate the hiring of employees) Submitting necessary IRS forms Documenting LLC meetings Hiring independent contractors and contracting with vendors Creating contracts for use with customers or clients Creating a buy-sell agreement with partners Updating any partnership, LLC, or shareholder's agreements under which you are currently operating Handling audits initiated by the IRS The above is not an exhaustive list of legal tasks which small business owners can do on their own. It should be stated that if your business is well-funded or you feel that you need the assistance of an attorney, you can always retain a lawyer to help you with everything listed above.

Issues Where You Will Need a Business Lawyer

Most of the issues outlined above can be handled by any intelligent business owner (if you can run a business, you can certainly fill out IRS forms or fill in boilerplate business forms). There are times, however, when a business faces issues that are too complex, too time consuming, or fraught with liability issues. At that point,the wisest move is to retain a business lawyer.

A few examples include:

Former, current, or prospective employees suing on the grounds of discrimination in hiring, firing, or hostile work environment Local, state, or federal government entities filing complaints or investigating your business for violation of any laws. You want to make a "special allocation" of profits and losses or you want to contribute appreciated property to your partnership or LLC agreement An environmental issue arises and your business is involved (even if your business didn't cause the environmental problem, you may be penalized) Negotiating for the sale or your company or for the acquisition of another company or its assets

An Ounce of Prevention

While you certainly need to retain an attorney for the serious issues above, your emphasis should be placed on preventing such occurrences in the first place. Prevention does not necessarily involve hiring an attorney, though consulting with one wouldn't hurt. By the time you or your business is sued, the preventable damage has been done and the only question that remains is how much you'll be paying in attorney's fees, court fees, and damages.

For example, by the time a prospective employee files a lawsuit claiming gender discrimination based in part upon questions posed at the job interview, all you can do is hire an attorney to defend the lawsuit. If, on the other hand, you had done your own research on anti-discrimination laws, or you had consulted an attorney beforehand, you would have known not to inquire as to whether the applicant was pregnant or planned on becoming pregnant. The small effort at the beginning of the process would save you an enormous headache later.

To prevent unnecessary attorney costs at the inception of your business as well as tremendous costs after a lawsuit has been filed, you might consider a consultation arrangement with an attorney. Such an arrangement would entail you doing most of the legwork of research and the attorney providing legal review or guidance.

For example, you might use self help and online sources to create a contract with a vendor and ask an attorney to simply review and offer suggestions. Or from the previous example, you might research types of questions to ask during an interview and then send the list to an attorney for his or her approval. This way, you prevent the potential headache later and the cost to you is minimal because you've already done most of the work and the attorney simply reviews the document.

Free Case Review for Your Business Needs Call 1-800-564-2707 today.

You won't need a lawyer for each and every legal issue that comes up in your business. But when you do, it's good to know where to find the right one. FindLaw can put you in touch with a small business attorney in your area to help answer your questions. Learn more with a free case review.

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Willard Utah small business law

 

Willard Utah

What Is A Business Litigation Lawyer?

 

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Where To Find A Business Lawyer

When you are looking for a business lawyer, look no further than MollaeiLaw.com. We are here to answer your questions and provide you with useful information on our blog that you can reference when making decisions.

You can learn more about Business Lawyer by calling us at 1-800-564-2707 and reading about our background and qualifications. We offer a free consultation to all of our clients so they can really learn more about how we work and if we can help them with their situation.

Why Are Business Lawyers Important

Business lawyers are important because they can help you form, protect, and grow your business safely. You won’t have to worry if you’re compliant with state laws and regulations when you form your business or if your contracts would hold up in court or not because we are here for you.

We have the knowledge and the experience you need on your side to help you make smart decisions and protect your personal assets as well as your interests. Don’t make the mistake of drafting a contract, agreement, or official business documents without having a lawyer look it over to make sure everything is included and iron-clad.

Call us today for a free consultation to discuss how we can help you and your business 1-800-564-2707.

Why Do Businesses Need A Lawyer

Businesses need a lawyer because there are many different ways you can accidentally become uncompliant with state, city, or county policies that mandate how you can run a business.

You may also need a lawyer to help you with any contracts or agreements you form in order to make sure they will hold up in court should you have an issue in the future. A lawyer will know what you should include and what to look for depending on your type of contract or agreement to make sure you are protected completely.

Why Hire A Business Lawyer

You should hire a business lawyer if you value your business and want to put your best foot forward and protect it.

This is one area where you can’t afford to do it yourself because mistakes can easily be made. When you work with a business lawyer, you will build a solid foundation for your business and be able to protect it in the future.

Why Is A Business Lawyer A Good Idea

A business lawyer is a good idea because they offer peace of mind. When you hire a business lawyer, you don’t have to try to interpret the law yourself or worry if you are drafting up documents correctly. A business lawyer takes that on for you so you can focus on other income-generating activities.

Who Is The Best Business Lawyer In Utah

The best business lawyer in Utah is one that is convenient, knowledgeable, respectful, and accessible to you.

We are a great option for a business lawyer because we specialize in helping business owners and entrepreneurs start and grow their business. We are not new at this and have a long line of hundreds of happy entrepreneurs and business owners that have used our service.

How Can A Lawyer Help Start A Business?

A lawyer can help you start a business by informing you about the types of business you can form and helping you weigh the pros and cons of each type in your unique situation.

Once you decide on which type you want for your business, a lawyer can help you file all of the necessary paperwork to make your business legitimate and legal. Then that same lawyer can help you draft solid employee contracts, non-compete agreements, and other various legal contracts that will build your business’s solid legal foundation that protects you in the future.

Why Do You Need A Business Lawyer?

You need a business lawyer if you run a business. It really is that simple because you can’t afford not to protect something that you love and rely on for financial support.

A business lawyer can help you from the very beginning of your business, the formation, throughout the years as you grow and succeed. A business lawyer is knowledgeable and experienced and knows how to make sure you are protected and compliant every step of the way.

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Eureka Utah business lawyer consultation

 

Eureka Utah

What Is A Business Litigation Lawyer?

 

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Sole Proprietorship - Simplest business structure, no filing requirements, but no personal liability protection

Partnership - Created automatically when 2 more persons engage in a business. By default, a business that begins with a verbal agreement or handshake is considered a general partnership. All partners share in both the day-to-day management and business profits. However, I highly advise using a written partnership agreement to form a partnership.

Limited Liability Company - A standard for most small businesses and online businesses. Features limited liability which means the owners of an LLC have no personal liability for the obligations of the LLC. An LLC is the entity of choice for a businesses seeking to flow through losses to its investors because an LLC offers complete liability protection to all its members.

C-Corporation - A corporation is an independent legal entity owned by its shareholders. This means that the corporation itself, not the shareholders that own it, is held legally liable for the actions and debts the business incurs. Also feature Corporate Tax Treatment meaning that corporations file taxes separately from their owners

S-Corporation - Pretty much the same as a C-Corporation + some tax benefits. Also, Profits and losses can pass through to your personal tax return. This means that the business is not taxed itself, only the shareholders are taxed.

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Mona Utah business law office

 

Mona Utah

Business Attorneys - What Is Their Role When Buying And Selling A Business?

 

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What Does A Small Business Lawyer Do

A small business lawyer works with individuals who own small businesses. The lawyer may help them form their business and incorporate their company when they’re just getting starting.

Later, the business owner may turn to the lawyer to help with employment issues and understanding laws and policies that pertain to their business.

The truth is, a small business lawyer can handle anything that the small business owner would need in terms of the law, business formation, hiring and firing employees, lawsuits, and much more.

What Makes A Good Business Lawyer

A good business lawyer is someone who is experienced and knowledgeable in their field. They’ve worked with many businesses and entrepreneurs and have created a smooth process to help business owners get just what they need.

We are a good and reputable business lawyer because we truly care about our clients. We put you first and are here to answer any questions you may have along the way. We’ve worked with countless business owners and entrepreneurs and always deliver on what we promise.

What To Ask A Business Lawyer

When you are meeting your business lawyer the first time, you may have some questions for them. Some of them may include:

Are you licensed to practice law? How many years have you been practicing law? What results do you get for your clients? Do you have any personal recommendations I can check on? What can I expect when working with you? Do you have any hidden fees I should know about? What’s the timeline for this? After your initial consultation, you may have some other questions as you continue to make decisions about your business.

Some of these may be what type of business entity should I choose (LLC or S-Corp), what’s the advantages of each, and how do I make my business compliant with all laws?

Your specific questions will change as you move forward in the process, depending on what you’re getting help for. It’s best to write down any questions you have when you think of them and then ask your lawyer the next time you meet.

When Would I Use A Business Lawyer

You may hire a business lawyer when you’re forming your business and trying to decide how you should incorporate it. You may want a business lawyer to help you file all the necessary documentation and make sure that you’re compliant with all laws once you start your business.

Once your business has launched, you may want a business lawyer to help you create contracts for employees and any other hiring you may need to do. You’ll likely want a business lawyer to help you should you have the need to defend against a lawsuit or present one yourself.

There are so many reasons why you may need to use a business lawyer because a business lawyer has a wide range of skills and knowledge to help you in your day-to-day business operations as well as the unexpected.

If you’re questioning whether your issue needs the help of a business lawyer, call us at our Law Office for a free consultation. We will give you an honest assessment of your situation and help you determine the next steps to take. Simply dial 1-800-564-2707 today to get started.

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Huntsville Utah corporate counsel

 

Huntsville Utah

Lawyer for Contract Review

 

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You may have recently come across a suggestion that you should talk to a Business lawyer for some reason or the other. To the skeptics, this may seem like an unnecessary investment of time, effort and money. But do not deceive yourself; timely assistance from an experienced and specialized professional can save you from making a drastic mistake with your commercial set up. Do not wait until matters are suppurating, but contact a professional in the early stages itself and get proper advice.Why you should consult a Business lawyer?• If you are planning to start your own commercial setup, then you may have never thought of engaging an attorney from the very beginning. But really, it is an excellent idea to contact an experienced legal professional and discuss your plans with him. You will be amazed at the valuable and practical advice he has to offer you. It will be as though he has done all your spadework for you.• In any case, starting a company will automatically expose you to deal with many legal implications and complications. An attorney will guide you handle all these matters efficiently. Moreover, he will assist you to avoid technicalities and making commitments which might create problems for you later on.• Drafting contracts and agreements, filing for patents, getting trademarks registered and attempting to protect trade secrets are some of the most important aspects of any corporate set up. All these require specialized legal knowledge. Therefore, make sure that an attorney is with you all along the way, so that he can guide you in what is the most appropriate way to go about all this.• As an employer, it is your duty to protect the rights of your employees and take steps to ensure their welfare as long as they are working for you. A legal counselor will provide you all essential information in this aspect and help you to draw up the necessary contracts and agreements.• Finally, there are some situations where the need for legal assistance is glaringly obvious. A lawsuit has been filed against you and your company, there are allegations of fraud or professional malpractice or your company might be teetering on the brink of bankruptcy. In all these cases, a good lawyer will be able to rescue you or to soften the impact of the final judgment.The law allows you to defend your legal rights on your own in many situations. However, think about all those times when you have embarked on a do it yourself project and botched it so badly that not only did you have to call in the professionals, but pay them a lot more than you would have had to initially. And you must have faced a lot of misery as well. You can recall your last plumbing fiasco or the incident while formatting your laptop. In the same way, if you need a Business lawyer, then do yourself a favor and contact one. After the initial consultation itself you will realize his value and will surely retain his services.

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Elberta Utah business lawyer near me

 

Elberta Utah

Business Lawyer: Yes, You Do Need to Hire One Immediately

 

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Contract Attorney

Do you need assistance with your contract?

A contract is a legally binding agreement made between two or more individuals.

The law protects all rights within a contract from the moment all parties sign it. The only exception is if a contract is deemed unlawful or contains serious inaccuracies.

Any party who does not follow promises made in a contract can be held liable.

A contract lawyer is necessary to make sure the contract is lawful and to make sure all parties signing the contract understand the details.

What Does a Contract Lawyer Do?

A contract lawyer serves two main purposes:

The first is drafting contracts and other legally binding documents.

The second is reviewing contracts that have already been drawn up – in some cases, by a different lawyer.

Contract law can be confusing and complicated.

Furthermore, the wording and formatting of legally binding documents tend to be perplexing to anyone who doesn’t fluently speak legal jargon. The purpose of a contract lawyer is to make creating – or signing – a contract a little less bewildering.

Contract Drafting

The first thing a contract lawyer does is draft a contract. This involves tailoring the legal document to fit your specific wants and needs.

It is not uncommon for certain words or phrases in a legal document to be taken the wrong way.

A business contract lawyer will go through the contract and clarify anything that might be questionable to either parties.

Hiring a contract lawyer to ensure you have a well-drafted contract is beneficial for the following reasons:

It will prevent disputes. A well-written contract with everything clearly established is going to make it harder for either party to dispute the contract. Ideally, the contract should satisfy both party’s wants and needs.

It will define the relationship you and other parties have. When everything is said and done, your contract should leave no grey area when it comes to the relationship you have with the other parties.

It will comply with the law. Having your contract drafted by a business lawyer is the easiest way to make sure you are legally covered when both parties sign the contract.

At our Law Firm, we take great pride in drafting and tailoring a contract that is in the best interest of both you and the other parties signing the contract. The contract will be easy to understand and prevent all burdensome legal issues.

A business lawyer can help you from the very beginning of your business, the formation, throughout the years as you grow and succeed. A business lawyer is knowledgeable and experienced and knows how to make sure you are protected and compliant every step of the way.

Contract Review

You already have a contract drafted because you used a contract outline you pulled from the internet and did it yourself – great.

It is still in your best interest to have a lawyer review the contract before you – or the other party – signs it.

Chances are, you did a pretty good job outlining the details of the agreement you and other parties are making to call for the contract in the first place.

You, however, do not look at a contract with the same perspective as a professional contract review lawyer. Law firms such as Mollaei Law are going to look at everything that could possibly go wrong and make sure that is included in the contract. A lawyer will also check for any loopholes the other party could use against you.

Some important items to check before a contract is signed include:

The contract accurately reflects your understandings of the terms of the contract. The benefits and risks of entering the contract - analysis of whether the benefits of entering the contract is worth the risks associated with the contract You are made aware of your responsibilities under the contract and the obligations of each parties are adequately explained and noted. Parties are accurately identified Correct date is stated, and if needed, a correct end date is noted. Hiring a lawyer to review a contract is about protecting yourself.

Obviously, you created the contract because you want legal protection. It is worth taking the actual step to make sure the legal document fully protects you and doesn’t leave anything out.

Should I Have a Lawyer Review My Contract Before Signing?

Ideally, it is always a good idea to have a lawyer read over any legally binding document before you sign it.

The last thing anyone wants to do is find out they unintentionally agreed to something because they didn’t understand the contract. An attorney can guarantee the contract is in your best interest.

Regardless of what type of contract you are getting ready to sign, contact us at 1-800-564-2707 before you sign any legal document or contract.

This way a contract review lawyer can read the contract over and make sure it is your best interest. If necessary, the lawyer can request revisions to the contract before you sign on the dotted line.

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Dugway Utah business lawyers

 

Dugway Utah

When is a Business Lawyer Needed?

 

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Sole Proprietorship - Simplest business structure, no filing requirements, but no personal liability protection

Partnership - Created automatically when 2 more persons engage in a business. By default, a business that begins with a verbal agreement or handshake is considered a general partnership. All partners share in both the day-to-day management and business profits. However, I highly advise using a written partnership agreement to form a partnership.

Limited Liability Company - A standard for most small businesses and online businesses. Features limited liability which means the owners of an LLC have no personal liability for the obligations of the LLC. An LLC is the entity of choice for a businesses seeking to flow through losses to its investors because an LLC offers complete liability protection to all its members.

C-Corporation - A corporation is an independent legal entity owned by its shareholders. This means that the corporation itself, not the shareholders that own it, is held legally liable for the actions and debts the business incurs. Also feature Corporate Tax Treatment meaning that corporations file taxes separately from their owners

S-Corporation - Pretty much the same as a C-Corporation + some tax benefits. Also, Profits and losses can pass through to your personal tax return. This means that the business is not taxed itself, only the shareholders are taxed.

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Goshen Utah commerical law attorney

 

Goshen Utah

What Is Business Law?

 

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Do I Need an LLC (limited liability company)

Slowly becoming more as a standard for businesses, a Limited Liability Company (or LLC) is a hybrid business form which combines the liability protection of a corporation with the tax treatment and ease of administration of a partnership.

The LLC is America’s newest form of business organization and is the most popular form of business.

The "owners" of an LLC are referred to as "members." Depending on the state, the members can consist of a single person, two or more people, corporations or other LLCs.

Unlike shareholders in a corporation, LLCs are not taxed as a separate business entity. Instead, all profits and losses are "passed through" the business to each member of the LLC. LLC members report profits and losses on their personal federal tax returns, just like the owners of a partnership would.

In other words, in the eyes of the government, an LLC is not a separate tax entity, so the business itself is not taxed. Instead, all federal income taxes are passed on to the LLC's members and are paid through their personal income tax. While the federal government does not tax income on an LLC, some states do, so make sure to check with your state's income tax agency.

Since the federal government does not recognize LLC as a business entity for taxation purposes, all LLCs must file as a corporation, partnership, or sole proprietorship tax return.

LLCs that are not automatically classified as a corporation can choose their business entity classification. To elect a classification, an LLC must file Form 8832. This form is also used if an LLC wishes to change its classification status.

Disadvantages of Limited Liability Company (LLC)

More expensive to form than sole proprietorships and general partnerships.

Ownership is typically harder to transfer than with a corporation.

Limited Life - In many states, when a member leaves an LLC, the business is dissolved and the members must fulfill all remaining legal and business obligations to close the business. The remaining members can decide if they want to start a new LLC or part ways. However, you can include provisions in your operating agreement to prolong the life of the LLC if a member decides to leave the business.

Also, because the LLC is a newer business type, there is not as much case law to rely on for determining precedent.

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