Although a lot of corporations often use attorneys to get help with the incorporation process, many new businesses often ignore the continuing legal requirements to retain their corporation status. Yearly shareholder, director and associate meetings must be held plus recording of minutes and appointment of officers should be relating with the state regulations. Neglecting any corporate formalities could put at risk a company’s corporate status and lead to lifting the corporate veil in case there is a lawsuit thus exposing otherwise untouchable company officers to debts or damages. Thus, a business attorney plays a crucial role in corporate governance.
Every company should legally protect its intangible assets. A few of the features that warrant copyright protection include a company’s name, brand, logo and unique products and services. Patents not just cover machines and other man-made goods, but could also protect procedures or processes, including petroleum refining method or water distillation procedure. A company attorney can help with copyrights, trademarks and patent registrations and aid the organization protect the assets responsible because of its competitive edge available market.
Many corporations, particularly technology companies consider the technical expertise of the staff as an very important asset. However, they flunk of protecting their employees through non-compete and non-disclosure agreements business attorney fort lauderdale. As you might expect, a number of employees will go out to search for pastures new and it is crucial to protect your company against such employees from taking their technological expertise using them over to other competitors in the market. A company lawyer will come in handy in formulating and overseeing the signing of the employee agreements in your company.
Entrepreneurs are often dedicated to setting up a brand new business so much which they forget to look at the scenario in the case that one principal decides to leave the company. When one of the major rules decided to unexpectedly leave, it could impact negatively on the continuing operations of the business. A company attorney can help with formulating exit strategies such as buy-sell or buy-back agreements for partnership companies to enable partners to offer their interest without facing any legal issues or placing an unwarranted financial debt on the corporation.
Think about the fees of hiring a business attorney? Well, reputable attorneys do not come cheap and the same also applies to other consultants crucial to your business. An investment in a business lawyer might help avoid plenty of troubles down the road.