5 Types of Lawyers You Should Consider For Your Business
Legal protection is critical for business success. Whether you’re running a startup or managing a large-scale corporation, a dedicated lawyer is necessary to handle lawsuits and prevent financial loss.
There are several types of attorneys, each equipped with unique knowledge and experience. Here is a brief overview of five types of lawyers and how they can benefit your business:
General Business Lawyer
As the name indicates, a general business lawyer can handle common legal issues. They will:
- Advise you regarding business formation.
- Draft legal contracts and agreements.
- Provide guidance on compliance with laws and regulations.
- Represent your company in legal procedures.
General business lawyers can assist with business disputes, negotiations, and mediation. They can also handle asset management and employment regulations. Keep in mind that general business lawyers may not be capable enough to handle unique business challenges. Choose a specialized lawyer if your business is exposed to complicated and industry-specific issues.
Employment Lawyer
An employment lawyer specializes in labor and employment law, advising clients on matters related to employee relations, benefits, and compensation. They also ensure your company’s employment rules are not violating state and federal regulations. Their roles and responsibilities include drafting and reviewing employment contracts and representing you in employment disputes and litigation.
Corporations consult with employment lawyers when they need to lay off one or more employees. Moreover, an employment lawyer will represent your company if there are any disputes with employee unions.
Corporate Transactional Attorney
A corporate transactional lawyer specializes in advising clients on corporate transactions, such as mergers and acquisitions, joint ventures, and financing transactions. A corporate transactional lawyer will:
- Negotiate and draft documents.
- Conduct due diligence.
- Conduct risk assessments.
- Ensure regulatory compliance.
Hiring a corporate transactional attorney will minimize liabilities. If you regularly deal with investors, a transactional lawyer will increase their trust. You will have peace of mind and a greater chance of success when all your legal matters are sorted. Make sure you hire an attorney who has ample knowledge in your specific industry.
Tax Lawyer
Compliance with tax regulations can be hard. Fortunately, dedicated tax lawyers exist and offer various benefits. Here’s how a tax lawyer can help your business:
- They will provide guidance on state and federal tax laws.
- They will assist with tax planning and structuring.
- Tax lawyers will represent your business in case of disputes or legal matters.
- They can prepare the necessary documents for tax audits.
- They can minimize tax liabilities and optimize deductions.
Tax planning is especially important for small businesses and dedicated tax lawyers can streamline the process.
Intellectual Property Lawyer
There is nothing worse than having your idea or innovation stolen. Hire an intellectual property (IP) lawyer to avoid such situations. They specialize in advising clients on matters related to patents, trademarks, copyrights, and trade secrets. IP lawyers can also assist with IP audits and due diligence. IP lawyers not only protect your intellectual property but help you comply with IP laws and regulations.