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Frequently Asked Questions about Business Law

business law

If you are a business owner or frequently work alongside businesses, you know that there are many complex situations that can arise. From starting a business to reorganizing one, choosing a partner or handling financial issues, if you have a business law matter, you need answers and guidance that you can trust.

At Daic Law, we help clients with all sorts of business law matters. Here are some of the most common questions that our clients ask, and a short answer from our business law attorney. Of course, if you have additional questions, don’t hesitate to contact us.

FAQs about Business Law

What is a business law attorney?

A business law attorney is an attorney who has knowledge and experience handling business-related legal matters. Business law attorneys often have specific education and training geared toward business law, including business formation, entity selection, contracts and business dissolution.

I want to start my own business. Where do I begin?

Starting your own business is an exciting (albeit anxiety-inducing) adventure. The best way to start your own business is to contact a business law attorney early in your process. There are several steps that you must take in order to start your business legally. An attorney can help you ensure that your business begins on the right foot. An attorney can help you choose the appropriate entity, file necessary applications, understand your tax liabilities, and make sure that you comply with applicable local, state and federal laws.

What is a business entity?

A business entity is the legal term for the type of business you want to start. There are several entities to choose from, which you may recognize by their individual names. Examples include an S corporation, C corporation, limited liability company (LLC) or partnership. The type of entity you choose depends on how many (if any) employees you have, partnerships, the type of liability you want, and more.

How can I protect my ideas for a product, service or business?

If you have a unique idea for a product or service, or are concerned about your business name or trademark, you can create non-disclosure and non-compete agreements for partners or employees. You can also apply for a patent or trademark for an idea or invention. These legal protections prohibit others from marketing your ideas.

Do I need an attorney to draft or review contracts?

Contracts are an important part of your business. Businesses use contracts for partnerships, vendors, customers, orders, and many operations. Breach of contract is one of the most common types of dispute that businesses encounter. For that reason, it is a good idea to have an attorney draft or review your contracts before you and other parties sign them. This can ensure that your rights and best interests are protected.

Can’t I just use an online service to form my business?

Online services offer what appears to be an easy online solution to starting your business. However, these online services do not offer the same level of protection or benefits that an attorney does. For example, an online service will not be as individualized as the service you get from an attorney. Furthermore, an online service will not analyze the best options for your business or ensure that you are compliant with local, state and federal laws.

Contact a Business Law Attorney

If you have a business-related legal matter and need advice, contact the business law attorneys at Daic Law. Call us at 877-893-6040 for a free consultation. You can also get more information by emailing us at info@daiclaw.com.

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