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When should businesses hire a business attorney for corporate documents? What is the importance of hiring a business attorney for corporate documents?
Just like an accountant is crucial to any business- whether big or small, so is a business attorney. Without a business attorney, any business is a tragedy waiting to happen and it will only take a matter of time before tragedy strikes and takes with it the entire business.
Unlike an accountant that every business needs on a daily basis, a business attorney’s services are only required when need arises. Although some firms can afford to go into long term contracts with top business attorneys, it is not economically viable for small business to go into contracts with business attorneys and they can only put them in retainer or call upon their services when time comes.
One of the most crucial times when any business needs an attorney is when handling crucial corporate documents. Crucial corporate documents like contracts have the ability to make a business or completely destroy it-it all depends on the availability or lack thereof, of a business attorney. So, when should you hire a business attorney to handle corporate documents for you? Why should you hire a business attorney when handling corporate documents?
When you must hire an attorney for corporate documents
If your company is involved in any of the following scenarios which involve crucial corporate documents, always ensure that you have an experienced attorney by your side;
Drafting and negotiating contracts
Contracts are part and parcel of any business. As much as contracts are very common in business, they are very sensitive and potential business killers-if the drafters are not careful. There are some clauses and business terms which are used in contracts which might be used in the future to sue your company if a problem arises.
Business contracts are very detailed and they contain some small clauses and they use boilerplate language which is likely to be omitted by the business owners. These small details and clauses which are included in contracts can create problems with the federal law or even the other party in the contract.
Attorneys understand the working of business contracts and will help you draft comprehensive contracts using the best possible business language. The attorneys can also identify problematic clauses in contracts and warn you upfront. It is therefore important to ensure that before signing a contract, an attorney goes over it to make sure that the agreement between the involved parties protects your interests and doesn’t put you in any form of legal complication in future.
When selling or purchasing a business
In the event that you are looking to buy a business or list your current business for sale, you should always ensure that you have a good and experienced business attorney by your side. Purchasing any business is very complicated because of the various complex transactions which are part of the entire process.
There are very many crucial corporate documents which are involved in the purchase or sale of a business which are very precarious in nature. Documents such as transfer permits, purchase agreements and even the acquisition document, are very sensitive in nature and any business involved in the purchase or sale of a business should always ensure that they have a good business attorney by their side.
A good business attorney has knowledge on business valuation, writing acquisitions, drafting good purchase agreements and has the ability to transfer permits and licenses. This therefore means that when buying or purchasing a business, the business attorney will help you get the best value out of the transaction and finalize the deal without much trouble.
If your business is served with a lawsuit or a court order, you should always look to your business attorney for the best legal counsel on how to appropriately respond to whatever legal lawsuit filed against you. Attorneys are trained to handle legal lawsuits against businesses and will always offer the advice on the best course of action to take.
Your business attorney should always retain a copy of all your business’ crucial corporate documents
It is also important for businesses to always give their attorneys a copy of the company’s corporate documents. If anything, your business attorney should be handling all the crucial corporate documents. In case of a lawsuit or legal action against your company, the attorney will know the best document to use to protect the interests of your business.
There you have the reasons and scenarios when you will need to hire a business attorney to help you handle crucial corporate documents. If you are in Houston and are looking for the best business attorneys to help you with handling corporate documents give us a call here at Toppins Law Firm and we will gladly be of service.
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