Question 1

What does a business lawyer do?

Accepted Answer

A business lawyer performs many functions, such as providing legal advice regarding the proper type of business entity that should be used to conduct a particular business and preparing proper governance documents to fit the business entity. Once the business entity is formed, the business attorney will help businesses navigate legal issues throughout every stage of its lifecycle.

Question 2

When should I hire a business attorney?

Accepted Answer

Legal advice should be obtained before any steps are taken to launch a business opportunity. Appropriate legal planning can help avoid future problems. Many costly mistakes can be avoided by using a proper business entity suited for the type of business enterprise, and as business operations begin, the attorney will provide ongoing legal guidance to ensure compliance with the laws that apply to the business.

Question 3

Can a business lawyer help small businesses?

Accepted Answer

Yes, every business can benefit from legal guidance regardless of size. Whether  launching a startup or operating an established company, an attorney can help protect you and your business and reduce legal risks.

Question 4

What industries do business lawyers represent?

Accepted Answer

Business attorneys work with companies across many industries, including healthcare, construction, manufacturing, retail, professional services, real estate, and technology.

Question 5

What is the difference between a business attorney and a corporate attorney?

Accepted Answer

A business attorney focuses on the day-to-day legal needs of small to mid-sized businesses, such as writing contracts, handling employment issues, and managing local compliance. A corporate attorney typically works with larger, publicly traded corporations, focusing on complex legal structures, governance, mergers and acquisitions, and strict federal securities regulations.

Question 6

How do I protect my personal assets from business liabilities?

Accepted Answer

To protect your personal assets, form an LLC or corporation to build a legal wall between you and your business. Keep that protection intact by keeping the business’s income and expenses in the name of the business and clearly separating them from your personal finances, as well as signing contracts in the company’s name, following entity governing rules, and carrying liability insurance.

General Business Law FAQs

Frequently asked questions