Company and Business Law – Specialists Navigating the Legal Minefields

Posted on November 21, 2019 in Uncategorized

With entrepreneurship reaching new heights with the expanding of the global marketplace, exhibiting characteristics of the new information economy, the creation, buying and selling of businesses is at an all time high. Many of those who wish to become their own boss are turning to established businesses as the logical option, as they have a record of trading, established customer base and generally involve less risk than starting a business from scratch. However, for those contemplating the purchase or sale of a business, careful consideration should be given to following up on the relevant checks on the business, its performance and any contractual agreements that may be entered as the result of the purchase. The real estate agent provides valuable information in regards to the property and business itself in a prima facie view; but this is not sufficient. Before the final negotiation periods are scheduled to take place and the purchase of the business confirmed, it makes business sense to utilise the services of a law firm which specialises in company and business law. Without this expert knowledge and advice, you may get left with a business that doesn’t reflect the promises made by those selling the business.� Completing due diligence is essential to protect your new investment.

The body of law that covers and governs business and commercial transactions is termed commercial law; a branch of the civil law. The law of businesses, or company law, covers companies and other business entities. The laws that regulate and monitor the behaviour, ethics and commercial operation of businesses are complex and abundant. Furthermore, as they are written in legal text, with specialised wording and jargon, it can be difficult for individuals to interpret and fully understand. However, there is help; in the form of experienced specialist lawyers who specialise in company and business law. These firms can easily guide you through the legal minefield that is company and business law in respect to your business and its operations. If you are considering selling an existing business or purchasing a new investment, it is absolutely essential that you consult with an experienced company and business law specialist to ensure your investment is equitable, secure and justified.

When selling or purchasing a commercial property or business, there are many loopholes and legal requirements that have to be satisfied. For the individual business owner, it is simply infeasible for them to comprehend and cover all the legal responsibilities. As well as having peace of mind that a professional is deciphering the legal requirements, you will save yourself much time and frustration in dealing with this without the professional assistance required.

Services You Can Get From Business Law Firms

Posted on November 19, 2019 in Uncategorized

Running a business – whatever type of business it may be – is not an easy task to do as this involves all the complexities of B2B and B2C relation. This is the main reason why every step you make, as a business owner, needs careful planning before it is executed to ensure that no problem will arise along the way. You need to make it sure that all transactions you make comply with all the legalities and technicalities as mandated under the law. But how can you do that when you are not an expert in business law? Well, business lawyers (persons who specialize in business law) can surely help you on that and there are many good business law firms in town that offer legal services for various businesses. But what are these legal services you can get from these firms? You can have the following:

  • Licensing – this is one of the primary requirements when putting up a business and a business lawyer is the right person that you should work with when obtaining license to operate, he can give you legal advice and can work in your behalf to ensure that your business complies with the licensing laws.
  • Entity Formation and Infrastructure – under this service, a business law firm can assist you with the formation and dissolution of various forms of entities. It can also help for the establishment of the right infrastructure based upon your business’ needs. Legal works such as shareholder agreements, buy-sell agreements, stock option plans are some areas that a business lawyer can help you with.
  • Mergers and Acquisitions – you can ask for help in dealing the difficult process of closing mergers, acquisitions, and other similar transactions.
  • Commercial Transactions – a business lawyer can also help to address your need in negotiations, structuring and implementation of various commercial transactions (e.g. manufacturing, development, consulting, and distribution agreement).
  • Capital Raising – a business law firm can also help you with business transactions like debt and securities and other private placements. It can also help in preparing the necessary legal requirements that must be complied with before staging any capital raising transactions.
  • Bid Protests and Dispute Resolution – this is another service you can get; they can also represent you in dealing with the complex process of bid protests and dispute resolution, which could include prosecuting and defending your business based on your legal rights.

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Startup Law 101 Series – What Every Entrepreneur Should Know About Business Law

Posted on November 18, 2019 in Uncategorized

The Startup Law 101 Series is aimed at educating founders and entrepreneurs about the basics of startup business law.

Here are my suggestions on this important question.

1. Law is fundamentally a specialty field and entrepreneurs should leave it, for the most part, to the specialists when it comes to technical details.

This part can’t be emphasized enough. Law is a maze of complexities. If you, as an entrepreneur, try to master it at that level, you will be an unusual entrepreneur if you are not quickly discouraged into abandoning the effort altogether.

2. Entrepreneurs can feel trapped, though, by specialists who hem them in and sometimes abuse them. Lawyers have been known to attempt to capitalize on the “fear, uncertainty, and doubt” (FUD) factor that can be used to scare up business where none legitimately exists. So it can be unsafe to leave everything to the specialists without being informed about their proper role and without being proactive in managing their activities as your hired agents.

3. Entrepreneurs should attempt to gain a working knowledge of the law as it affects their companies. The emphasis here is on “working.” This is not a technical knowledge. This is not about going to law school or about learning to think like a lawyer. It is about trying to get the equivalent know-how about law that a serial entrepreneur might have — it is about knowing the decision points and the main factors that affect those decisions so that you can manage a lawyer’s efforts in giving you technical assistance on those points. It is about learning the fundamentals of how companies are formed, funded, managed, and sold. It is about understanding how deals work within a company context. As an entrepreneur, you don’t have to know how these things work beyond following the advice of your lawyers. But you will be far sharper if you do. You can be led by the professionals or you can actively manage their efforts, even while using their expertise, to help achieve your goals.

4. Therefore, though law is fundamentally boring for most entrepreneurs, the smart ones attempt to educate themselves in this area as needed to achieve the goal of being effectively proactive in working with lawyers and of being able to use the law effectively to further their business goals.

5. What does this investment of time and effort get you? It will educate you on how to use the law to help protect yourself from liability risks relating to your business. It will improve your ability to plan effectively for your company’s launch and growth. Finally, it will save you money because it will improve your ability to manage the time of your lawyers.

6. How do you gain this knowledge? That is up to you. I emphasize here only that you should not disdain the task just because it involves law. Nor should you overdo it in the other direction by diving into specialty forms of knowledge. Strike a balance. Invest the time needed to understand business law at a high level, with a strategic and not a technical focus. Use this author’s Startup Law 101 Series to learn the fundamentals of startup law. Read significant blogs in the area (the Startup Company Lawyer and The Startup Lawyer are good ones). Read the posts. Think about the issues. Get the larger perspective on how legal issues affect you and your company.

You can also use self-help resources from the publishers who specialize in such works. These can be helpful for learning about general legal issues affecting business, though they are less helpful for startup issues specifically.

In the end, experience will be your best teacher. But you will need to give yourself a foundational knowledge to ensure that you learn the most from your experiences. And, above all, make sure to work with a business lawyer who works with you and educates you about the legal steps you are taking. Do watch out for lawyers who keep you in the dark and who merely spread the FUD factor.

Remember, don’t be discouraged if you cannot understand legal technicalities. Your goal is not to master technicalities. It is to get a working knowledge. Place a high value on anything that gives you that perspective. This is what the serial entrepreneur has mastered. It is what you will need to master as well if you are to be optimally effective as an entrepreneur in managing legal matters to further your business goals.

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