Although many corporations often use attorneys to acquire help with the incorporation process, many new businesses often ignore the continuing law to retain their corporation status. Yearly shareholder, director and associate meetings must be held plus recording of minutes and appointment of officers must be as per the state regulations. Neglecting any corporate formalities could put in danger a company's corporate status and cause lifting the corporate veil in case there is a lawsuit thus exposing otherwise untouchable company officers to debts or damages. Thus, a business attorney plays a critical role in corporate governance.joseph caramagno attorney
Intellectual Property
Every company should legally protect its intangible assets. Some of the features that warrant copyright protection include a company's name, brand name, logo and unique services. Patents not merely cover machines as well as other man-made goods, but might also protect procedures or processes, including petroleum refining method or water distillation procedure. A company attorney can fix copyrights, trademarks and patent registrations and aid the company protect the assets in charge of its competitive edge in the commercial market.
Employment Agreements
Many corporations, particularly technology companies look at the technical expertise of these staff as a possible very important asset. However, they miss protecting their staff through non-compete and non-disclosure agreements. As you may expect, several employees should go in the market to look for pastures new which is critical to protect your organization against such employees from taking their technological expertise with them over to other competitors in the market. A business lawyer comes in handy in formulating and overseeing the signing of the employee agreements inside your company. joseph caramagno attorney
Exit Strategies
Entrepreneurs are often centered on setting up a new company a lot they forget to consider the scenario in the event that one principal decides to leave the organization. When one of the main rules made a decision to unexpectedly leave, it may impact negatively about the continuing operations of the business. A business attorney can help with formulating exit strategies such as buy-sell or buy-back agreements for partnership companies make it possible for partners to offer their interest without facing any legalities or placing an unwarranted financial debt around the corporation.
Think about the fees of hiring a business attorney? Well, reputable attorneys are not equipped cheap and the same will also apply with other consultants fundamental to your business. A good investment in business lawyer might help avoid plenty of troubles in the future.