Posts Tagged ‘corporation’

When to Hire a Lawyer for your Small Business?

March 17th, 2010

By Mark Schecter | 2 Comments »

A business lawyer can play an integral role in your success as a small business, providing legal services at every stage. However, many business owners do not hire a lawyer until they have been sued by another party or are facing other legal issues.

Deciding to wait until a problem occurs to hire a lawyer can be dangerous for your business. If a problem arises, you can benefit from the assistance of a lawyer that understands the nature and history of your business. Someone you have an existing relationship with.

Lawyers provide legal support at various stages of small business, including:

Business Organization Services for Start Ups

Every business owner, even the most successful, had to start somewhere. If you’re in the organization stage of starting a business, now is a good time to get the help of a business lawyer.

Before you make any large investments, he/she can help you:

  • Research and compare business ventures
  • Evaluate the viability of your business idea
  • Identify potential liability and legal issues you may encounter
  • Choose and set up the best legal structure for your company – LLC, Inc, etc

Partnerships Agreements and Negotiations

If you are considering starting a business with another person or entering into a partnership, your top priority is likely to protect your interests.

There will be times when the parties cannot agree on the operation or direction of the business, management decisions, employees or salaries. The same is true for many partnerships that come to an end.

By clearly defining the roles, responsibilities and expectations of each partner, you can limit future disagreements and conflicts. Your business lawyer can negotiate the partnership terms on your behalf; and prepare a contract that defines all expectations.

Prepare Valid, Enforceable Business Contracts

The foundation of any business deal or relationship is a valid contract that unambiguously expresses the parties’ intentions.

In Florida, there are 3 components that every contract must have. If a contract lacks 1 of the 3 components, it can be deemed invalid and unenforceable. If that happens, the terms of the agreement that are in place to protect your business, can be null and void, denying you the right to enforce them.

You do not have to risk doing business without a valid, enforceable contract in place. A Florida contract lawyer can negotiate the terms and prepare an ironclad business contract that expresses each of the 3 required elements.

When you hire a lawyer that specializes in business, you are one step closer to building a strong foundation for a successful company. While you focus on running the business, he/she can focus on keeping it protected.

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Posted in business lawyer, small business | 2 Comments »

Outsource to Contract Lawyer to Deal with Layoffs

February 11th, 2010

By Mark Schecter | No Comments »

If you follow the local and national news, you are aware of the US economy and rising unemployment rate. It’s difficult to ignore the dismal news as the topic is frequently covered in all areas of the media, from morning and afternoon talk shows, to radio and newspaper ads.

As a business owner, you constantly struggle with the thought of cutting back your costs and budget, and the possibility of having to lay off employees and add to the rising unemployment rate. But the fact remains, you are responsible for finding ways to keep your company viable while you deal with the current crisis. That means in many companies, layoffs are inevitable.

While you work hard to cut your budget and control your costs to deal with the business losses you’ve experienced, you may find you’re forced to downsize the number of employees in your company.

With that said, it’s not always simple to determine who will be laid off. While you may be able to fade out certain positions, you’ll find there are others you cannot afford to dissolve.

For instance, it may not be a good idea to completely fade out the legal services your in-house attorney provides to protect your company. In fact, it may be an absolute wrong decision as claims of wrongful termination and other employment disputes tend to increase when layoffs occur.

So, what can you do?

You can outsource to a local contract attorney many of the same legal services an in-house attorney offers. Does this mean you must completely dissolve your company’s legal department? No. But it does mean a contract lawyer can prevent you from having to hire more salaried in-house attorneys and support staff.

Although much of the news we hear focus on the loss of jobs once held by middle Americans, there are other industries that are often overlooked. The legal industry has been hard hit by the economy. It was already heavily saturated and very competitive, and the economy has only exacerbated that reality.

Now, instead of hiring more in-house salaried lawyers, many corporations hire contract attorneys to provide legal services they need. In many instances, a lawyer working on a contract basis has the same (and sometimes more) education and work experience as the typical in-house attorney.

Has your company considered outsourcing to fill in-house attorney positions following layoffs?

http://www.schecterlaw.com/litigationblog/legal-services-local-corporate-attorneys-offer

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Posted in Corporate Outsourcing, Outsourcing Trends, South Florida | No Comments »

Are We Witnessing the Demise of the Billable Hour?

November 13th, 2009

By Mark Schecter | No Comments »

For a while now, the fate of the billable hour has been in question. Corporate clients have long been expressing their concerns that the billable hour fee structure could possibly encourage corporate counsel to prolong legal matters.

With the ailing US economy, these corporate clients are finding it more imperative to set budgets for operating their companies. As they are forced to tighten their belts, small and large corporations are putting more pressure on their legal counsel and law departments to do two things – get rid of the billable hour and control their legal costs.

What would the demise of the billable hour mean for corporate counsel and their clients?

Read more to find out…

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Posted in Alternate Fee Arrangement, Corporation Law, business | No Comments »

Organize your Business: Choose a Legal Structure

November 6th, 2009

By Mark Schecter | No Comments »

When it comes to launching a new business, there are several factors you should consider during the initial planning process. One of the first steps you should take is to create a business plan. Once your business plan is out of the way, it’s time to consider how you will organize your business. What type of legal business structure should you choose?

There are various business structures to choose from. Where you will be operating your business can determine the types of structures that are available to you. And, the structure you choose will determine whether you need to register your business with the state, what forms you will need to file to establish your business structure, and your business/personal tax liability.

Although some will differ, most states offer 4 basic business structures for you to choose from. Those structures are sole proprietorship, partnership, corporation, and limited liability company (LLC).

Continue reading to discuss the four most common business structures used today…

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Posted in Business Structures, business | No Comments »

Four Reasons Every Corporation Needs a Business Lawyer

September 21st, 2009

By Mark Schecter | 1 Comment »

business-lawyer-FloridaEvery corporation, despite its nature, size or location, can benefit from having an effective lawyer that specializes in business affairs on retainer. An experienced business lawyer can provide legal assistance at every stage of your business, from the conception and organization phase, to advising you of potential issues of liability, and defending you from frivolous claims and lawsuits that could threaten your corporation’s success.

If you do not have a business lawyer on retainer, you are not alone. Most business owners do not consider hiring a lawyer until they are faced with a specific legal problem or after they’ve been sued by another party.

An experienced and knowledgeable business lawyer can play an integral role in your corporation’s success. Here are four good reasons every corporation needs a business lawyer:

1. To assist with the start-up and organization of the corporation…

One of the best times to enlist the services of a lawyer is at or before the start-up of your business. A lawyer can help you evaluate the viability of your business idea before you invest any capital. He/she can also help you choose the best structure for your company, whether a limited liability company or corporation, and help you identify any potential liability or other legal issues you may face.

2. To keep your corporation in compliance with applicable local and federal laws…

There are laws that govern practically any and every action your corporation wishes to carry out. However, because most entrepreneurs that decide to start a corporation does so with little or no legal expertise, many corporations fail to comply with laws that are applicable to them and as a result, they face fines, lawsuits and other legal actions. A business lawyer can make sure you’re aware of the laws and regulations that are relevant to your corporation, and prevent you from taking action that will jeopardize your corporation’s success.

3. To properly advise and structure partnership agreements…

As with most business partnerships, there will be times when all parties will not agree on the operations of the business, management decisions, employees, or salaries. If you are considering starting a business with another person or entity, or entering into some type of partnership, protecting your interests should be one of your top priorities. With the help of a business lawyer, you can have a partnership agreement drafted that will layout and define each partner’s expectations. By clearly defining the roles, responsibilities and expectations of each partner, you can limit the presence of disagreements and potential conflicts.

4. To prepare ironclad business contracts…business-contract-md

An essential component of any business relationship is a written, legally-binding contract. In Florida, there are three components that must be present in a valid Florida contract. If your contract lacks any one of the three components, it may not be considered valid and enforceable. Thus, the terms of the agreement that were in place to protect you and your company, can be considered null and void, denying you the very protection you sought during preparation of the contract. A business contracts lawyer can protect you from this potential pitfall by preparing an ironclad business contract that outlines the terms of the contract and possesses each of the three elements required in the state of Florida.

As with any business endeavor, it is imperative that you put forth every effort to protect your business and non-business related interests. Waiting to hire a business lawyer can be dangerous for you and your corporation. In the event a problem arises, you can better benefit from the assistance of a lawyer that you have an existing relationship with; a lawyer that thoroughly understands the ins and outs of your corporation.

Why risk your Florida corporation’s success by foregoing a business lawyer? By hiring a Florida lawyer that specializes in business law, you are one step closer to building the successful empire you’ve dreamt of. While you focus on what you do best, your business lawyer can focus on helping you protect, defend and build your corporation.

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Posted in business, contract law | 1 Comment »