Woodruff Utah contract attorney

 

Woodruff Utah

When is a Business Lawyer Needed?

 

lawyer for small business

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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

I Own a Small Business, Do I Need a Business Lawyer?

 

litigation attorney

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In Need of a Business & Corporate Law Attorney? Business and corporate offices are dependent upon a sturdy legal framework and would otherwise struggle through their affairs without sound legal advice. Business and law attorneys provide that advice that can help secure and shape the framework for any office. They have years of experience within the field which gives them the edge when it comes to knowing how to protect and advance a company. With real-world solutions and modern methods, business and corporate law attorneys can assist business of all sizes, from those just starting out to those who have been clients for up to 80 years.Clients need to have a firm understanding of the most effective policies, contracts, and training tools in order to keep the company functioning and growing. If a company is lacking the legal resources, it runs the risk of losing money. Other negative side-effects can include bad publicity, shareholder and property disputes, and disgruntled employees. However, if a company finds itself in a legal predicament, business and corporate law attorneys can ensure that the legal tools are utilized to the fullest. These tools will set the groundwork for future prosperity and success of a business.Business and corporate attorneys offer more than just the advice and groundwork needed to handle publicity. Banking and finance law, employment and labor law, mergers and acquisitions are just a few areas that an attorney can help with. Their knowledge also expands into the realm of negotiations and drafting of contracts, as well as business succession planning and construction law and litigation.Individual goals are the priority of even business and corporate law attorney. They strive to help each client meet their goal no matter how big or small it may seem. With acute attention to detail and modern solutions, attorneys can help clients tackle legal details without stress or confusion. Business and corporate law attorneys offer a variety of strategies when it comes time to negotiate and draft contracts, plus they are trained to sort through the legal details presented by software development and licensing arrangements.Business and corporate attorney's can also offer advice on business purchases and sales, as well as guide clients in succession planning, dissolutions and buy-outs. Their help will ensure that every client receives maximum benefit and satisfaction and that both parties are satisfied with the outcome.Business and corporate attorneys want to protect the intellectual property and advantage in the marketplace of their client. They will do their best to provide answers regarding multiple issues including business structuring, shareholder and buy-sell agreements, and capitalization. With their help and answers, businesses can rest assure that the most productive results are reached so that the future of the company is secured.

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Eden Utah general counsel

 

Eden Utah

Business Transactions - Your Lawyer's Role

 

contract attorney

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In one of his most famous and tautological quotes, President Warring G. Harding once observed that, "The business of America is business." He was right. No nation on earth has a stronger commitment to free enterprise than the United States. According to the Small Business Administration (SBA), there are nearly 30 million small companies in the U.S., which represents over 99 percent of all employer firms.Although it is invariably the corporations that make headlines when accused of wrongdoing, most business-related lawsuits are filed against small companies since there are so many of them. This specialized area of practice is called business litigation in the legal profession. Lawsuits that involve malpractice, contract law, and class action suits are the most common types of these cases.Who To CallEven though the law is supposed to be blind, companies of all sizes are often cast as villains when accused of wrongdoing. Whether the case is about food poisoning or a defective airbag, a firm must work fast to defend the company's good name. Failure to do so will almost inevitably result in a deluge of bad press, which will almost certainly hurt the bottom line.In any civil case, the complainant is the accuser, while the litigant is the accused, hence the term "business litigation." These accusers could be anyone, including a current or former employee, customer, client, or former partner. The most sophisticated cases litigation lawyers handle are class action suits.A lawyer that specializes in class action lawsuits must defend his client against a group of complainants that may include hundreds or even thousands of people. The outcome of these cases can alter the fortunes of any company, no matter how large they might be. The Master Tobacco Settlement, for example, was settled in 1998 for $206 billion over 25 years!What To ExpectWhether of the class action, contract, or malpractice variety, most of these cases are settled before they ever get to court. There are many reasons for this. First and most obviously, members of the firm that may or may not be responsible for any wrongdoing do not want their name tarnished in the press. As a result, they are often willing to settle cases they may not have been responsible for simply because it is cheaper and easier than going to trial. With that said, a good business litigation lawyer must be a skilled mediator, since that is often how these cases are resolved.Mediation Vs. ArbitrationAs a general rule, attorneys must negotiate in either arbitration or mediation hearings. The only difference between the two processes is that arbitration involves a legal judgment that is determined by an arbitration board, while mediation is simply an open negotiation between the two opposing sides.Settlements that are made in mediation often involve disputes where the complainant believes that they were unlawfully terminated. Because wrongful termination cases are so common, they seldom make the papers or the news, which is why they are often settled for a reasonable sum before they ever get to a judge.In any of the aforementioned situations, an experienced business lawyer may mean the difference between a crippling lawsuit and a legal victory.

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Willard Utah small business law

 

Willard Utah

Small Business Attorney

 

business lawyer near me

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When to Hire a Business Lawyer

There are two professionals every business will need early on: an accountant and a lawyer. The reasons for hiring an accountant are pretty obvious--you need someone to help you set up your "chart of accounts," review your numbers periodically, and prepare all of your necessary federal, state and local tax returns. The reason for hiring a business attorney may not, however, be so apparent. A good business attorney will provide vital assistance in almost every aspect of your business, from basic zoning compliance and copyright and trademark advice to formal business incorporation and lawsuits and liability. First, some general rules about dealing with lawyers:

If you are being sued, it's too late. Most small businesses put off hiring a lawyer until the sheriff is standing at the door serving them with a summons. Bad mistake. The time to hook up with a good business lawyer is before you are sued. Once you have been served with a summons and complaint, it's too late--the problem has already occurred, and it's just a question of how much you will have to pay (in court costs, attorneys' fees, settlements and other expenses) to get the problem resolved. America's judicial system is a lot like a Roach Motel--it's easy to get into court, but very difficult to get out once you've been "trapped." Most lawyers agree that while nobody likes to pay attorneys' fees for anything (heck, let's let our hair down--nobody likes paying or dealing with lawyers, period), but the fee a lawyer will charge to keep you out of trouble is only a small fraction of the fee a lawyer will charge to get you out of trouble once it's happened.

Big firm or small firm? Generally speaking, the larger the law firm, the greater the overhead, therefore the higher the hourly rates you will be expected to pay. Still, larger firms have a number of advantages over smaller ones. Over the past 20 years, lawyers have become incredibly specialized. If you use a solo practitioner or small firm as your lawyer(s), it's likely that they will not have all the skills you may need to grow your business. I don't know of any solo practitioner, and very few small firms (under 10 lawyers) that could handle your lawsuits, negotiate your lease of office or retail space, file a patent or trademark, draft a software license agreement, advise you on terminating a disruptive employee, and oversee your corporate annual meeting. Sooner or later, these "generalists" will have to refer you out to specialists, and you will find yourself dealing with two or three (or even more) attorneys. While larger firms are more expensive to deal with, they have two significant advantages: 1) they usually have all the legal skills you need "under one roof," and 2) they have a lot of clout in the local, regional and (perhaps) national legal community. A nasty letter from a "powerhouse" law firm with offices in 30 states is a lot more intimidating than a nasty letter from a solo practitioner who is not admitted to practice in the defendant's state. Also, being connected with a large, well-established law firm may have intangible benefits--they may be willing to introduce you to financing sources or use their name as a reference when seeking partnership arrangements. Certainly if you run a fast-growing entrepreneurial company that plans to go public (or sell out to a big company) some day, you would need to work with lawyers whose names are recognized in the investment banking and venture capital communities.

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Eureka Utah business lawyer consultation

 

Eureka Utah

Business Transactions - Your Lawyer's Role

 

business lawyer near me

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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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Mona Utah business law office

 

Mona Utah

General Counsel

 

business lawyer near me

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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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Huntsville Utah corporate counsel

 

Huntsville Utah

Corporate Counsel

 

business lawyer near me

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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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Elberta Utah business lawyer near me

 

Elberta Utah

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

 

litigation attorney

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No matter what my personal role in a business transaction-as business owner, supplier, customer, facilitator, or as an attorney for one of the parties-everyone has the same reaction to the lawyer's participation: "Oh, no....now nothing is going to get done....here come the lawyers!"Before I became an attorney, I felt the same way. The presence of them seemed to automatically up the tension and the probability that whatever we wanted to get accomplished just wasn't going to happen (or if it was, with a tremendous amount of difficulty). Why is this? Why does everyone dread a lawyer's participation in a business transaction, and what can be done, if anything, to change that?I believe the first part of the question may be answered, on one hand, by the simple fact that most people consider them to be a necessary evil. You don't call one because you want to, you call one because you need to. The feeling that you need to do it could stem from a variety of reasons-fear that the other side will take advantage of you, a feeling that you don't understand the situation as well as you would like, apprehension of what will happen if you don't have someone to stand by your side, that the other side, at the very least, will perceive you to be vulnerable without their presence, or just simply because they have a level of understanding and expertise about the issue which you don't possess.On the other hand, I also believe that people dread the lawyer's participation due to a misperception about the lawyer's role. Unfortunately, lawyers themselves also hold this misperception much of the time, which only aggravates the situation.So what is this misperception?In a business transaction, like most other attorney-client relationships, their job should be to advise the client-you. Generally, the purpose of hiring one is to minimize the risks and maximize the advantages to you, the client, as much as possible. What often happens, though, is that the lawyer and/or the client lose sight of the business transaction at hand. No one would argue that there are risks inherent in every business deal. The risks for you are different from the risks to the other side. The question is, how much risk are you willing to assume in order to accomplish your goal of completing this business transaction?When the focus shifts strictly to minimizing the risks, the ultimate result is often that that the other party no longer finds the business deal attractive, or feels that they just cannot work with you. When this happens, many businesspersons have lost sight of the goal because they become focused on allocating liability to the other side. When this happens, it often causes a breakdown in relationships between the parties-and most of the time, to the parties' detriment, not to their advantage.In the end, it is important to remember at all times that you are, ultimately, the decision maker, and your lawyer is the one who gives you advice and options, which you may choose to take, or not (because this is your business and you have to be the one ultimately responsible for making the business decisions). One of the first decisions you need to make is about what type of lawyer you want to work with. Everyone wants someone who will be looking out for their interests, but what does that mean? Does it really mean you hire someone who helps alienate your valuable business associates because they are so busy "protecting your interests" that they lose sight of what you are trying to accomplish? Or does it mean that you find someone that understands the needs of the small business person, including the real possibility that you may have to accept a certain level of risk in order to get things done? Although there are many attorneys who practice business law, most attorneys are not businesspersons in the traditional sense. There is a wide difference between understanding negotiation and litigation. It is important, therefore, that whoever you hire, they can fully explain to you, in plain language, what the risks are and the potential outcome(s) of your decisions from a legal standpoint-and that you take the advice and make decisions accordingly.

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Dugway Utah business lawyers

 

Dugway Utah

General Counsel

 

local business attorneys

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The "C" Corporation

C-Corporation

A corporation is the most common business structure. 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.

Corporations are more complex than other business structures because they tend to have costly administrative fees and complex tax and legal requirements. Because of these issues, corporations are generally suggested for established, larger companies with multiple employees.

For businesses in that position, corporations offer the ability to sell ownership shares in the business through stock offerings. “Going public” through an initial public offering (IPO) is a major selling point in attracting investment capital and high quality employees.

A corporation’s shareholders, directors, and officers must observe particular formalities in a corporation’s operation and administration.

For example, management decisions must often be made by formal vote and recorded in corporate minutes. Director and shareholder meetings must be properly noticed and documented.

Finally, corporations must meet annual reporting requirements and pay ongoing fees in their state of incorporation and in states where they are registered to transact business.

Taxation is a significant consideration when choosing a business type, and a C corporation is taxed as a separate legal entity (which means no pass-through taxation like a partnership). A business tax return is filed and taxes are paid on the corporation’s profits.

If the corporation distributes profits to the shareholders in the form of dividends, shareholders pay income tax on those distributions. This creates a double taxation of corporate profits.

As with any business type that offers liability protection to owners, a corporation must be created at the state level. Articles of Incorporation (sometimes called a Certificate of Incorporation) in the appropriate state must be filed and filing fees paid.

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Goshen Utah commerical law attorney

 

Goshen Utah

Business Transactions - Your Lawyer's Role

 

lawyer for small business

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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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