Why Do I Need a Small Business Attorney?

There is a whole industry of offering services to small businesses. If you do an online search for almost any question related to your business, you will find advertisements for products and services marketed to small business owners. From accounting software to productivity apps to executive life coaching, it is easy to find products and services that might help your business but that will definitely make your business expenses add up. Whether your small business is an LLC or a corporation, one service that is definitely worth hiring is that of an attorney with knowledge of small business law. Here are four reasons your small business can benefit from the services of a business attorney like attorney Stephen Welle at O’Keeffe O’Brien Lyson Foss in Fargo.

Drafting or Reviewing Contracts

Written contracts are important in business as in any matter that might become the subject of a legal dispute, and simply having a contract puts you in a much better position, legally speaking, than if you did not have one. Yes, it is possible to find sample contracts online and modify them to fit your situation, but you might be leaving in all kinds of loopholes. Even if you do not hire an attorney to draft your contracts, you should at least have a professional attorney review your contracts before you sign them. 

Entity Designation

Is your business a corporation, an S corp, a partnership, or an LLC? It sounds like a simple question, but your answer greatly affects how much you will have to pay in taxes for your business. Reading about the different entity types is better than nothing, but it is no substitute for the professional advice of an attorney who has represented businesses with the different business structures. 

Handling Business Complaints

It is highly likely that any business will get some negative reviews, and unless they are numerous, you can mostly ignore those. If someone files a formal complaint against your business, though, you will need to hire an attorney. This is especially true if it is the state or local government filing the complaint. 

Selling Your Business

When someone wants to buy your business, it is a dream come true for many business owners.  You will get to reap the financial rewards of your business without having to put in long hours anymore. Negotiating the sale of a business is less simple than it looks, though. An attorney who is knowledgeable about business law can help you arrange a sale that is fair to all parties involved. 

Contact O’Keeffe O’Brien Lyson Foss About Legal Services for Businesses

Your job is to be a businessperson; you do not have to be your own attorney, as well. Stephen Welle is a North Dakota/Minnesota business attorney who can help you draft contracts, negotiate the sale of your business, or provide any other legal services your business needs. Contact O’Keeffe O’Brien Lyson Foss in Fargo, North Dakota or call 701-235-8000 or 877-235-8002 for a consultation.