Although a lot of corporations often use attorneys to have help with the incorporation process, many new businesses often disregard the continuing legal requirements to retain their corporation status. Yearly shareholder, director and associate meetings have to be held plus recording of minutes and appointment of officers should be in respect with the state regulations. Neglecting any corporate formalities could put in danger a company’s corporate status and cause lifting the corporate veil in case there is a lawsuit thus exposing otherwise untouchable company officers to debts or damages. Thus, a small business attorney plays a crucial role in corporate governance.
Every company should legally protect its intangible assets. A few of the features that warrant copyright protection include a company’s name, brand, logo and unique products and services. Patents not merely cover machines and other man-made goods, but can also protect procedures or processes, including petroleum refining method or water distillation procedure. A business attorney can help with copyrights, trademarks and patent registrations and aid the business protect the assets responsible because of its competitive edge in the commercial market.
Many corporations, particularly technology companies consider the technical expertise of these staff being an vitally important asset. However, they flunk of protecting their workers through non-compete and non-disclosure agreements business attorney fort lauderdale. As you could expect, a number of employees will go out to search for pastures new and it is critical to guard your company against such employees from taking their technological expertise together over to other competitors in the market. A business lawyer will come in handy in formulating and overseeing the signing of the employee agreements in your company.
Entrepreneurs tend to be centered on setting up a fresh business so much that they forget to look at the scenario in the case that certain principal decides to leave the company. When one of many major rules chose to unexpectedly leave, it could impact negatively on the continuing operations of the business. A business attorney can help with formulating exit strategies such as buy-sell or buy-back agreements for partnership companies to enable partners to offer their interest without facing any legal issues or placing an unwarranted financial debt on the corporation.
What about the fees of hiring a small business attorney? Well, reputable attorneys do not come cheap and the exact same also pertains to other consultants imperative to your business. An investment in a small business lawyer will help avoid plenty of troubles down the road.