What kind of lawyer do I need? What a business lawyer can do for you.

What can a business lawyer help with?

With so many different areas of law, sometimes it can be challenging to figure out what kind of lawyer you need. In this article, we briefly explore what a business lawyer can do for you. Though business law is a very large section of law and branches into numerous specialties, broadly speaking, business lawyers can be divided into two groups: Small-business lawyers, who specialize in the legal counsel most often required in the early stages of a new business, and corporate lawyers, who more often focus on the the structure and financial status of larger, established businesses, while also providing legal support for daily business dealings.

Learn more about important business laws in Alberta.

Regardless of the size of your business, the following are just a few of the common kinds problems a business lawyer can help you with:

Choosing or converting your business’ ownership structure.

A business lawyer can help you select the most advantageous ownership structure for your business. In Canada, this means choosing between sole proprietorship,  partnership, a corporation, or a co-operative. Each business structure has different benefits and constraints regarding raising capital, tax benefits, control and legal liability.

Writing contracts

Legal formal agreements (known as contracts) are a vital part of any business. A business lawyer can advise you on what legal forms you’ll need as well as help you draft these contracts to meet the exact needs of your business. Here are just a few examples of the kinds of contracts a business lawyer can help you with:

• Licensing agreements
• Franchise agreements
• Employment contracts
• Partnership, incorporation or shareholder agreements
• Lease agreements
• Mortgage, purchase agreements
• Confidentiality agreements
• Non-Competition agreements
• Sales contracts

For more information on contract law in Canada, click here.

Contractual disputes or breaches.

What happens when a contract is breached, such as when a client fails to pay for services or an employee breaches confidentiality? A business lawyer can advise you on your response and negotiate with relevant parties on your behalf.

Compliance and risk management.

Every action a business takes involves a certain amount of uncertainty or risk. As a business in Canada, you are obligated to take certain measures against corruption, fraud, ethical violations, or money laundering from occurring within your business dealings. A business lawyer can help you identify and mitigate risks as well as advise you on your legal risk management obligations.

Resolving employee issues and claims.

Even the most prepared and conscientious business owners occasionally run into problems regarding employee management such as issues surrounding disability, sick-leave, workplace safety or discrimination to name a few. A business lawyer can advise you on relevant laws, best courses of action and represent you when a problem arises.

Company mergers and acquisitions.

Whether you’re looking to join forces with another business, buying out a competitor, or are in the process of being acquired by a larger company, a business lawyer is an invaluable asset during such negotiations, as they provide vital legal advice while guiding you through the process.

*If you’re looking for a lawyer specializing in business law in Edmonton, click here.

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