The growing field of business law, which is an area of legal practice, deals with the formation of new companies and the legal problems that arise from their interactions with people, other businesses, the government, and others. Many of these issues can be handled on your own but there are situations when a lawyer might be necessary. Here are five. On https://www.odomlawgroup.com/ you can learn more.
Formation of a Corporation
It is possible to form an LLC or other legal business entity without an attorney. However, it is extremely difficult to establish a corporation with shareholders and board members. Particularly important is the administrative part of the equation. It often includes complicated tax and legal requirements which simply cannot be dealt with by the layman. It’s no surprise that many corporations keep a lawyer on retainer, or at least a team of attorneys. A new owner can save money by filing their articles of incorporation themselves. It is simple and does not require a law degree.
Litigation
Every company can be sued, no matter how small or large. Common types of lawsuits are: discrimination, harassment, copyright violation, environmental, government, and other. Corporate lawyers can help, regardless of whether the goal is to settle disputes to avoid bad publicity or to fight the dispute at court. An attorney can represent the entire business, as well employees.
Filing a Patent
Did you ever wonder why the phrase “patent in progress” is so popular on the market? There are hundreds of thousands upon hundreds of thousands of patent applications each year. However, the U.S. Patent and Trademark Office cannot approve them all right away. The average applicant takes three years to obtain a patent on an invention or product. An attorney for a business firm who is a patent attorney can assist you in filing the paperwork. They will also help you understand your rights if and when a patent is granted.