Choosing an appropriate legal structure. It may be one of the most important decisions a business owner can make. He or she must weigh the pros and cons of each entity (sole proprietorship, partnership, corporation) when starting a business and then choose the form that’s in their best interests. An attorney can help with that, then help them file the necessary paperwork to formally start the business.
Business law and immigration law often intersect. Businesses may want employees from other countries, may want international employees on a full-time basis, or may need temporary workers. Knowing how to navigate federal immigration laws is essential.
Commerce isn’t as easy as it sounds. Regulations govern how companies can make and sell products. From factory working conditions to distribution requirements to price controls to tariffs, laws and rules regulate how a company buys materials and makes and sells its products. Also, owners of small businesses often think that intellectual property issues shouldn’t really concern them, and that only big businesses deal face such issues. This could be a big mistake. Small businesses often have IP issues as well.
Business operations include preparing and negotiating contracts. A contract can be anything from a lease agreement to a purchasing agreement to an agreement with a third-party vendor to sell a product. Lawyers in business law must fully understand the elements of contract law and the nuances that might impact enforcement of a contract. They must work with their clients to skillfully negotiate and draft contracts that work to the client’s best interests.