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When Do I Need a Corporate Lawyer for My Business

These days, a good number of individuals relinquish their affection for 9 to 5 jobs and switch to business to make the best use of their talent and innovation, earn a greater ROI, and provide job opportunities to the needy people in the market.

Always keep in mind when you start a business, you have to follow different rules and regulations set by the government. Most of the business people always view having a lawyer as a waste of money and resources. But, always remember that if you run a business which is not as per the existing law, you can face legal problems, punitive measures from the law enforcement agencies, penalties, sanctions, etc. All these can damage your brand's reputation in the market and put a negative effect on your future business opportunities. 

There are many reasons as to why you need a corporate lawyer firm to run your business successfully. If you are a new businessman, then having a corporate lawyer is essential. It helps you in many ways. Just have a look at some points that illustrate the importance of lawyers for your business:

1. To Protect Your Business From Litigation
When you start a new business, you can do a lot of works yourself, such as Writing a business plan, Researching and picking a name for your business, Reserving a domain name for your website, Creating a legal partnership agreement, limited liability company (LLC) operating agreement, or sh areholder's agreement, Applying for an employer identification number (EIN), Applying for any licenses and permits the business requires, Interviewing and hiring 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, etc. All these activities are regulated by different laws and regulations.

When you breach the law, you are pursued by the litigation by your employees, shareholders, different law enforcement agencies. Always keep in mind rules and regulations keep changing from time-to-time, making it difficult for common individuals to keep all those changes in mind and run the business accordingly.

Too many litigations against your company can hinder your progress in the short and the long-term. Therefore, you should hire a corporate lawyer to handle all cases against your company and get fake litigations quashed easily and quickly. 

2. To Sell Your Business Or Buy Another
If you want to sell your business to another company or buy another business, you will need the help of a corporate lawyer to launch negotiations, make the sales and lease agreements, prepare parties for sale/purchase. This prevents the involved parties from changing their minds in the future due to legally binding agreements. 
3. For Mergers And Acquisitions
Mergers And Acquisitions are taking place in the business world almost every year. Companies agree to M&A transactions to grow their size and business clout dramatically, cut the operational cost of the business, and increase profits dramatically. Always keep in mind that Mergers And Acquisitions are also regulated by the law. If you fail to obey the related law, law enforcement agencies come down on you. A corporate lawyer can help you to conduct Mergers And Acquisitions as per the law and help you to ensure the best deal.

4. To Avoid Committing Mistakes
Although business-related legal information is available on the Internet but it is possible that they are not true at all the times. To operate a business successfully, one has to show strict adherence to deadlines, filing requirements and procedures. By hiring a lawyer, you can take care of all these issues and run your business smoothly. 

5. Expanding Your Business Overseas
When your business grows by leaps and bounds and the ROI is increased, naturally, you tend to expand the business network in foreign countries, you have to follow the business rules and regulations applicable in those countries. An international lawyer can help you to make all arrangements for the expansion of your business in foreign countries.

Source: https://ahlawatassociates.weebly.com/blog/when-do-i-need-a-corporate-lawyer-for-my-business

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