Corporate laws can be challenging to understand and implement fully in your business. However, you must ensure that your business is following these laws to avoid serious criminal and civil penalties.
To avoid running afoul of federal or state corporate laws, you can hire an attorney to represent you and your company. You can benefit from putting experienced business transaction law services on retainer.
Legally Forming Partnerships
Having an attorney who offers business transaction law services can be important when you want to form a partnership within your company. Federal corporate laws require that you follow certain mandates to form a partnership legally. You cannot simply name people as partners without filing the necessary paperwork and possibly reorganizing or relabeling your business.
When you retain business transaction lawyer, you can file the necessary paperwork with the federal and state government. You can also label your business to show that it is a partnership rather than a sole proprietorship or LLC. You avoid the scrutiny and penalties that can come from forming an illicit partnership or attaching the wrong label to your company.
Making Your Business Public
You also may need the guidance of business transaction law services when you want to open your business up for public trading. You may not understand the intricacies involved with allowing investors to buy stock in your company. You need to submit the proper paperwork to the Securities and Exchange Commission (SEC) before you can have your business made available for trading.
Your attorney can guide you through the process of opening your business up for public investing. They can also help you determine how much of your company you want to offer for trading and how much stock you should keep for yourself.
Finally, having business transaction law services on retainer can assist you in creating and implementing contracts. You may use contracts not only with your employees but also contractors and vendors. Your attorney can ensure that the contracts are practical for both parties and also that they uphold the current federal and state corporate laws.
Business transaction law services can provide a number of benefits to you and your company. You can form partnerships and restructure your business legally. You can also open your business up for public trading and bring in investors. Your attorney can also ensure the legality of your business's contracts. For more information on what a business transaction lawyer can do for you, consult a lawyer in your area.