Although a lot of corporations often use attorneys to have assistance with the incorporation process, many new businesses often ignore the continuing legal requirements to retain their corporation status. Yearly shareholder, director and associate meetings have to be held plus recording of minutes and appointment of officers should be relating with the state regulations. Neglecting any corporate formalities could put at risk a company’s corporate status and result in lifting the corporate veil in case of case thus exposing otherwise untouchable company officers to debts or damages. Thus, a small business attorney plays a critical role in corporate governance.
Every company should legally protect its intangible assets. A few of the features that warrant copyright protection add a company’s name, manufacturer, logo and unique products and services. Patents not just cover machines and other man-made goods, but may also protect procedures or processes, including petroleum refining method or water distillation procedure. A company attorney can assistance with copyrights, trademarks and patent registrations and aid the company protect the assets responsible for the competitive edge in the business market.
Many corporations, particularly technology companies look at the technical expertise of their staff being an extremely important asset. However, they flunk of protecting their workers through non-compete and non-disclosure agreements business attorney fort lauderdale. As you may expect, a number of employees will go out to search for pastures new and it is crucial to safeguard your company against such employees from taking their technological expertise using them over to other competitors in the market. A company lawyer comes in handy in formulating and overseeing the signing of the employee agreements in your company.
Entrepreneurs tend to be focused on creating a brand new business so much that they forget to take into account the scenario in the event that certain principal decides to leave the company. When one of many major rules chose to unexpectedly leave, it can impact negatively on the continuing operations of the business. A company attorney can assistance with formulating exit strategies such as buy-sell or buy-back agreements for partnership companies to enable partners to sell their interest without facing any legal issues or placing an unwarranted financial debt on the corporation.
What about the fees of hiring a small business attorney? Well, reputable attorneys do not come cheap and the same also relates to other consultants imperative to your business. An investment in a small business lawyer can help avoid a lot of troubles down the road.