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What Is Business Law? 4 FAQs Answered

Posted by Eric D. Anderson | Sep 27, 2019 | 0 Comments

After reaching into our mailbag we noticed a series of frequently asked questions about Business law. As you can see, Business law covers a broad array of legal areas ranging from federal tax compliance to contract review. Read on and see our answers to these FAQs

LLC written on Golden Keyring.
  1. What is business law?

Business law encompasses everything from partnership agreements and LLC formations to insurance claims and collections. A business lawyer can guide you through every step of the incorporation process and remain onboard as a trusted ally for as long as you wish. According to the U.S. Small Business Administration,  some areas of business law include:

  • Advertising and marketing law;
  • Intellectual property law;
  • Workplace safety and health law;
  • Privacy law;
  • Finance law;
  • And environmental law.
  1. Do I need a business lawyer?

Hiring a business attorney is an economical way to prevent minor problems from turning into major issues. An attorney will ensure you do everything right the first time around, which can save you from costly hassles down the road. In short, paying some now can avoid to paying a lot more later.

If you are just one of the founders of your company, an attorney can also ensure that everyone is satisfied with how you have set up the business and that you're well on your way to success. Entrepreneur magazine reminds readers that hiring a lawyer is crucial if you want your company to thrive in today's market. Ultimately, your lawyer can serve as an experienced mediator who has the skill and knowledge needed to get the company off the ground.

If you turn to Eric D. Anderson Law Ltd. for help with your startup, our team will ensure you select the best possible organizational entity for your particular situation. We can also help with the sale and purchase of a business, as well as obtaining funding for operations.

  1. What is the difference between a partnership and a joint venture?

In both joint ventures and partnerships, each partner has the legal ability to bind the entire entity. For example, a partner can represent the whole financial entity during business proceedings.

In a partnership, two or more people own a single business and carry out certain functions of that business for a profit. In a joint venture, multiple partners or businesses come together to carry out a single project.

  1. What if my partner is doing something that endangers our company?

If your partner endangers your company or does something that you do not agree with, a contract attorney can help you determine the best way to proceed. Do not attempt to resolve the situation on your own because if your partner's actions placed your company in legal trouble, you could end up making the situation worse.

For any other business inquiries, turn to Eric D. Anderson Law, LTD. A business lawyer from our firm will ensure you are complying with all local, state and federal regulations. To confirm you're doing everything in your power to protect your business, contact a Redlands contract attorney by calling 909-283-5494.

About the Author

Eric D. Anderson

Eric Anderson: Civil Trial lawyer, Criminal Defense Lawyer, Sin Lawyer


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