What Does a Business Lawyer Do?

A business lawyer is a legal professional who specializes in the complexities of running a company. They help clients with issues like drafting contracts and overseeing major business transactions. They also advise on compliance with laws set by authorities. They can help prevent costly mistakes that would otherwise be difficult to correct. They can save companies money by finding credits and deductions that they would have missed.

Many people choose to become a business lawyer as it offers a lot of opportunities for career advancement. It is considered a stable job with good pay and benefits. However, it is important to understand the work load and responsibilities of this role before making a decision. Business lawyers must be able to handle the pressure of the profession, particularly when working with large clients. They may often be called out of hours to handle urgent matters, such as a customer filing a lawsuit against their company. This type of work can be stressful for any attorney, but it is essential to a business’s success.

As a business lawyer, you will deal with issues related to securities regulation, commercial law, and property law. In addition to these areas of expertise, you will need to be well-versed in federal and state law. You will be required to read and understand complex statutes and case law, as well as the latest industry trends and news. To develop these skills, it is recommended that you take law school courses such as Contract Drafting and Commercial Law.

One of the most common reasons a small business hires a business lawyer is to avoid serious consequences that could result from legal missteps. Even well-meaning entrepreneurs can make mistakes that have lasting effects on their businesses. For example, if you choose the wrong type of business entity for your company it can have significant financial and tax implications in the future. A business Lawyer can guide you through the pros and cons of each option.

Another reason a small business might hire a business lawyer is to avoid costly employment lawsuits. Your business lawyer can create contracts that clearly define the work that is expected of your employees and how it will be paid for. This can protect your business from situations where an employee claims they were unfairly terminated or was not given proper sick leave or vacation time. Your lawyer can also draft contracts that include nondisclosure agreements (NDAs) for outside contractors and consultants who might have access to proprietary information, such as product or client lists.

Your business lawyer can also assist with complex real estate law issues, such as negotiating leases for commercial space. These lease documents are generally standard, but can be negotiated to include clauses that benefit the tenant. Your attorney can also advise on zoning issues that may limit or restrict your business operations.

Before hiring a business lawyer, ask for referrals from other small business owners in your industry. Talk to these professionals about their experiences with their attorneys and how they helped them resolve any problems or disputes that arose. You can also use online resources, such as business review sites, to read reviews about the attorneys you are considering. When you find a business lawyer you feel comfortable with, schedule a meeting to discuss your company’s needs and how they can best be met by the attorney.