How Can a Business Attorney Help You Run a Healthy and Successful Business?

How can a Massachusetts business lawyer assist you in meeting your business objectives?  The primary value of our business attorneys is that we can help ensure that you are positioned to efficiently resolve issues that arise in the life cycle of any business. It is important for business owners and entrepreneurs to consider the value of the consulting and advice of a business attorney rather than exercising financial restraint while making important decisions that can significantly affect the health and success of a business. Rather than risk the long term consequences of decisions made without the advice of a business attorney, it is, therefore, recommended that business owners conduct a cost benefit analysis into whether one should hire an attorney. Hiring any attorney at the onset works similar to insurance: your decision will help you manage risk and minimize loss when an “event” occurs.

Business and Entity Formation

Selection of the right business structure for your business is the starting point and a business attorney can help you choose the right type of entity for your objectives and needs.  There are several types of entity choices available in Massachusetts: Corporations (including S-Corporations and C-Corporations), Limited Liability Companies (LLC), Partnerships (Limited Liability Partnerships; Limited Partnerships), as well as other specific entity types for professionals, charitable purposes, and other highly specialized business. Selection of the right entity type will establish a solid foundation for long term growth, investment, limited liability, taxation, dealing with external issues and pressures, and others.  

Contracts / Negotiation

A Massachusetts business attorney can make sure that your rights and interest are protected.  It is crucial that the contract provisions that deal with certain issues and contingencies are not only fair, but also align with your interests in any transaction.  A business attorney can consult and assist in contract negotiation, as well as work on the “fine tuning” of the contact terms. The types of contracts that a business attorney may review, include: commercial leases, buy-sell agreements, employee agreements, licenses, equipment purchase agreements, and bank-investor financing documents.

Intellectual Property

It is essential for any business owner to consider the significance of intellectual property rights. This may come in the form of trade marks /service marks, copyrights, and patents.  Intellectual property can also include others types not provided for by Federal statute, including: trade secrets and formulas, customer lists, methods and processes, and the like. Not only should you consider protecting your own intellectual property from your competition, you also need to protect your property internally from employees, partners and/or other shareholders. A competent business attorney can help you navigate the legal protections and agreements available for protection of what makes your business unique. 

Asset or Stock / Interest Sales / Mergers and Acquisitions

During the lifetime of most businesses, the owners will want to expand the business or take advantage of an exit opportunity.  A business attorney can help you craft a strategy and implement a sale of the shares or membership interests to an outside organization or to employees or other shareholders – members.  An acquisition will allow the shareholders to exit the business by converting their interest to cash or other options. Before you begin discussions with any potential buyer, it is crucial that you consult with a business lawyer.

Stefan Cencarik is a business law attorney that provides business, litigation, and real estate services to businesses, entrepreneurs, and citizens across the North Shore and its surrounding towns, including Lynnfield, North Reading, Wakefield, Beverly, Salem, Peabody, Andover, Woburn, Burlington, Saugus and many others.