New Jersey & New York Business Lawyer
Call (888) 628-8838 :: Whether you’re starting your first business, organizing a new venture as an entrepreneur, or already an established corporation, Zuck Legal offers legal services to help you achieve your business goals.
What is Business Law?
Business law has to do with the creation of new businesses as well as the issues that arise for existing businesses as they interact with other companies, the public, or the government. Business law draws on a variety of legal disciplines, including administrative law, tax law, real estate, sales, bankruptcy, employment law, intellectual property, and more. Business lawyers specialize in transactional work, which means they do not represent their clients in court. Instead, business lawyers are typically hired so that future litigation can be avoided.
Types of Business Law
Business law incorporates the laws that govern what happens with commercial matters. There are two main categories: regulation of commercial transactions and the regulation of commercial entities. Laws have evolved over the decades, and they have had to accommodate the changes in both society and technology. Some of the most common types of business law include:
- Intellectual property
- Contracts and negotiations
- Powers of attorney
- LLC and S corp formation
- Operating agreements
- Partnership agreements
- Employment agreements
- Purchase agreements
- Consumer goods sales
- General business disputes
Internal Agreements and Business Formation
Even before opening its doors, a new company has to comply with the law. Business law attorneys are often asked to form new entities on behalf of their clients by filing the required documents with the Secretary of State. Clients often need help determining the business entity that is best suited for their enterprise.
A business can be formed as a corporation, limited liability corporation (LLC), partnership, or another type of entity. Many of these company forms can be further customized to meet the specific needs of the business. For example, partnerships formed as “limited partnerships” allow some owners to participate only as an investor, and corporations, such as “S-corps,” are designed to achieve tax savings.
The primary objective of most entities is to shield the owner, or owners, from individual liability. Operating a business that is not established to provide limited liability means that owners are putting all of their assets within the grasp of the creditors. However, by working with a business lawyer from the start, this situation can be easily avoided.
A business lawyer is also available to draft the internal agreements that will regulate how a new business is going to be managed. An excellent example of this is an LLC operating agreement. This document directs how the business owners will apportion profits and losses, make critical business decisions, transfer ownership rights, and should, therefore, be drafted with great care.
Companies rely on their lawyers for advice regarding the most recent legal developments affecting their business, particularly when their industry is heavily-regulated.
Contact a Business Lawyer
Whether you’re starting your first business, organizing a new venture as an entrepreneur, or already an established corporation, Zuck Legal offers legal services to help you achieve all of your business goals.