Deciding to start your own business can be an exciting prospect, but navigating the often rocky world of business can be intimidating. While many business people are often able to successfully navigate the many diverse areas of business, which they previously knew little to nothing about, such as marketing, IT, HR, accounting and more, the one area which they are likely to fail miserably at, is when it concerns business law. This is because the law is or can be such a complex subject matter that only thorough understanding it all it’s tenet will suffice for a successful application.
Additionally, the consequences of running foul of a (business) law can often be more problematic than say not following some basic accounting or marketing principles.
Which is exactly why chances are high that a small or startup business person will eventually need the help or advice of a lawyer in the operation of your business at some point. Or at least the legal aspects of it.
Not every NYC small business attorney, or wherever you live, is suited for all kinds of business. You will usually need to choose between a corporate lawyer or a business lawyer. Both types of attorneys are often used interchangeably in conversations, but their jobs and functions are very different. You’ll be able to make the right choice once you know more about what you need to accomplish in your business.
Corporate Lawyers at a Glance
A corporate lawyer will deal with drafting contracts and business transactions to help keep your business running. Superpages.com states that corporate lawyers are better suited for these types of task. They often deal with negotiation, human resource issues, and tax law. Another benefit to a corporate lawyer is you don’t need to be a big business firm to utilize their talents. Corporate lawyers can also be part of another category that acts as consultants–their main job focuses on giving advice to their clients.
Many of these kinds of these attorneys offer their services directly to their clients, often working inside their business rather than working in their own firm. A corporate lawyer’s job in this setting is to advise their boss on issues ranging from the acquisition processes to liability matters on a regular basis. Corporate lawyers also work with other lawyers from other companies; mostly to ensure that the competition is complying with the law. This can help your business gain a sense of security if you are worried about your assets.
You may need a corporate lawyer if you need help drafting a contract (although a contract attorney will also suffice for this), or need assistance with internal business issues when you are headed to court. Whenever you need to reach a deal with a another business, seek out a reputable corporate lawyer to help write up the terms of a contract. This is to ensure that you are getting a fair deal, and greatly reducing the risk of either side breaking the law. They are also essential whenever you face an internal issue, such as when a former employee files a lawsuit against you. Corporate lawyers will be able to argue on your behalf, and they should be able to mitigate damages–or even get the case thrown out.
Business Lawyers Represent Your Rights
Business lawyers on the other hand act differently than corporate lawyers in the sense that they are not as directly tied to their clients. According to superpages.com , a business lawyer’s main function is to protect the rights of small business owners, but they can also work for larger firms as well. You can hire a business lawyer to help you in the formation of your own business. They can for instance help you at any stage of ownership between upstart to selling the business, or even taking in outside investors.
They can even come into play during contract disputes. Unlike a corporate lawyer, whose main job is to create a fair contract, a business lawyer is better able to represent you in the circumstance of a contract breach.
A business lawyer’s main function might be to help with the creation of your business as a sole proprietor, or to negotiate the formation of a partnership. They are there to represent your needs as a business owner, and they are needed to protect your rights. If you decide to go public, they will also ensure that you comply with all the necessary business codes and tax laws.
A business lawyer will protect your interest in contract breaches regarding vendors, clients, and other entities. They can help you with regards getting liens for your benefit, or help with debt collection issues. They can also act as arbitrators whenever there is a dispute within your company.
Making the Right Choice
Knowing when to use the right attorney is important in business. Both corporate lawyers and business lawyers play a crucial role for their clients, but they serve very different functions. A corporate lawyer is tasked to work directly in your business to help protect against legal issues in daily operations. Business lawyers are there to act as personal advocates–protecting your rights as a business owner. Always remember to do the proper research for finding the right lawyer for your needs.