What is Business Law?
Business law encompasses all of the state and federal laws and regulations that surround starting, purchasing, running and selling a business. This can also involve how to file for bankruptcy.
Regardless of your company size, it is advisable to hire a Denver business attorney to help you understand the legal steps you should take to protect your business and your personal life. For example, if you form a limited liability company (LLC), your business will not be tied to your personal assets. If someone takes legal action against your business, they cannot also go after your personal assets.
There are many other examples of how a business lawyer can help protect you such as identifying paperwork to handle employee situations, how to keep proper records, how to control your finances and much more. A business lawyer will help you understand the specific laws surrounding things like:
- Establishing the right type of business (corporation, partnership, limited liability, etc.)
- How to pay federal income taxes
- Legally naming the business
- Licenses required, if necessary
- Marketing and advertising rules (consumer protection law)
- How to purchase an existing business
- Employment laws such as discrimination, worker’s compensation or personal injury
- Contracts with vendors, contractors and business partners and how to avoid breach of contract
- Employee, customer or business partner fraud
- Intellectual property rights
- Immigration law
- Wrongful death lawsuits
Even if your company is small, you still have legal obligations that must be met in a timely manner. Failure to do so could lead to serious implications down the road. If you wait until you are being sued to hire a lawyer, you may have waited too long. It’s much better to be proactive and get your legal ducks in a row so you can hopefully avoid unfortunate situations that could threaten the livelihood of your business – even destroy it.
The Colorado business lawyers at The Brown Law Firm, LLC are ready to become a trusted resource for your small business. Call (303) 339-3750 or visit our website online to schedule an appointment.