Business attorneys are the back bone of many businesses as they assist the businesses in a variety of tasks. Their primary purposes include helping their clients to achieve their goals while meeting the legal bounds set up by the law. Below we have included the primary purposes of a business attorney in New York.
Formation of the business
One of the most important duties of a business attorney is the formation of a business. This involves advising the owner on the kind of business they are forming such as Limited Liability Company or corporation and giving then a concrete understanding on the tax and liability implication of each type of the business. They explain to the owners factors that can lead to dissolution of their businesses and guides them through the dissolution process as well. The attorney goes ahead to ensure that the filling of all annual reports and any other form of government requirement is done in the right way.
Drafting and administering all contacts, reports and legal documents
Businesses require a wide range of contacts with clients, vendors, employees and the government. Business attorney review and write contacts ensuring that they all the guidelines and policies concerning contacts are followed. They can negotiate business deals and later formalize them in writing with contacts. They can also prepare and file government reports, draft legal documents and review new businesses relationships with subcontractors and vendors. They are responsible for drawing up pension plans and creating documents to buy or sell assets.
Representing the client in a court of law
Some business affairs may be taken to a court of law. The business attorney will make opening arguments with the opponent attorney, conduct cross examination of the defendant’s witnesses and seek a favorable decision for his client. They analyzes probable case outcomes using their knowledge of legal precedents and advices businesses appropriately. They also interprets laws, rulings and regulations to clients.
While you are planning to expand your business out of New York boundaries or even to other states and countries, your business attorney will help with legal requirements. He works out all the expansion strategy, learn and implement the diplomacy that will make the strategy work successfully and help you set in office registration procedures. They explain the rights and responsibilities of the business owners in the new area of operation, assist in leasing operating space and assist to navigate complex city and county compliance codes.
Ensuring smooth flow of operation in the business
A business attorney may also give advice on the day to day activities of the business. They can be asked to develop staff guidelines regarding hiring and firing of employees as well as handling lawsuits regarding wrongful termination, sexual harassment or discrimination on behalf of either the employer or the employee. They assist in tax planning and also in the collection of bad debts. They also assess regular business transactions to ensure that they remain authentic according to the corporate laws.
The attorney consults and handles all corporate legal processes such as intellectual properties, financial and security offerings, mergers and acquisition, compliance issues as well as agreements and patents. For more information please visit http://newyorkbusinesslaw.org/about/.
Useful information for small businesses in New York can be found here.