More people than ever are starting their own companies and finding new ways to make money. However, businesses are carefully and extensively regulated. If you want to remain in business, ensure your operations follow all applicable industry regulations and compliance requirements. Additionally, contracts and partnerships play large roles in the business world, and disputes require expert legal attention.
There are several reasons you may need a Billings business litigation attorney. Company formation, contract creation, contractual disputes, regulations and compliance, buying another company, intellectual property disputes, or handling clashes with employees are common causes of business litigation.
Legal Issues for a New Company
A business attorney can be a fantastic asset if you’re trying to get a new company off the ground. Starting a business typically requires a hefty investment, and you don’t want to lose that investment due to clerical errors or failure to file appropriate paperwork. Companies also take several forms.
A business attorney can help you decide what type of company or corporation you want to create. If you intend to merge two or more smaller companies together, you’ll need an attorney to help navigate the process. Other companies may have liabilities that could hurt your business if left unchecked, so having an attorney review the details is a wise choice.
Business Partnerships & Stakeholders
Many new companies start with just one or a few people. These individuals typically form the backbone of the company and keep it running in its early days. Over time, they may wish to change roles or pursue other opportunities. A business lawyer can help you draft partnership agreements that outline every stakeholder’s role in the organization and their legal obligations.
Partnership contracts also help prevent one party from damaging the others should they decide to leave the company. Some partners may wish to change their roles in the company later, and a contract will help make such transitions easier. Your attorney can draft a contract ensuring the continued viability of your business, even if key founders decide to go their separate ways later.
Employee Disputes | Employee Rights
As your company grows, you will need to hire employees to keep your operation going. Unfortunately, things like sexual harassment, discrimination, and workplace violence are still common issues. If an employee attempts to sue your company, a business attorney will help navigate the case and protect your business from false claims.
Government Compliance for a New Business
Several industries have very specific requirements set forth by government oversight agencies, such as the Environmental Protection Agency and the Food and Drug Administration. Failing to comply with these agencies’ rules for your company can lead to a very early end for your operation. Additionally, if your company causes significant damage to the environment or the health and well-being of your employees, it could permanently tarnish your brand’s reputation.
Tax Issues | Business Tax Requirements
Businesses face far more stringent tax requirements than private citizens. Additionally, businesses are far more susceptible to audits from the Internal Revenue Service. A business attorney can not only help you handle an IRS audit, but also ensure your company is fulfilling all its tax requirements so you can stay in business.
Business litigation is notoriously complex, time-consuming, and stressful. Although there are probably several issues you could successfully navigate on your own, a business attorney is a powerful asset for any business owner to have.
At Ragain & Cook, P.C. we want to help Billings’ business people keep their operations legal and profitable, and we understand the intensity of business litigation. If you have any questions about whether an attorney is right for your concerns, reach out to us to set up a consultation.