Businesses are regulated by both, state and federal law. The federal government primarily governs stocks and investments, workplace safety and employment laws, and environmental protections. In addition to federal laws, States and Localities usually pass their own laws, such as imposing licensing requirements, establishing rules for forming and running a legal business, state and local taxation.
If you want to start, manage, transfer, or exit a business, Fitter Law’s business attorneys can help you. Our attorneys have experience with many different industries and professional fields. Typical business transactions include identifying, negotiating, drafting, and enforcing agreements. Additionally, our attorneys can help you with the legal aspects of taxation, employment, securities, investment, debt management, and franchising.
Contracts and Agreements:
Fitter Law’s attorneys have experience drafting contracts and agreements. We ensure that you are provided with the correct contract formats and legal terms to protect and enhance your rights in case things don’t go as planned. Should you need to sue someone, our attorneys will help you to determine the basis for your rights. Whether you want to draw up a legal agreement, wondering if you can get out of a contract, or believe that someone has not lived up to the terms of a contract, contact one of our attorneys today.
Corporate and Incorporation:
A corporation is one formal way to organize your business to gain rights and privileges, and to limit your personal liability. There may be tax and financial advantages to incorporating, but it can also increase your business licensing fees and decrease the amount of personal control you have in running your business. There are many legal consequences to incorporating, so it’s a good idea to consult one of our attorneys.
Limited Liability Company:
Creating a limited liability company, or LLC, is another way to structure your business. A shareholder in an LLC is not personally liable for any of the debts of the company, other than for the money they invested in that company, with some exceptions. Fitter Law’s attorneys can help you determine if forming an LLC is advantageous and appropriate for your business. If you decide to form an LLC, our attorneys can draft the paperwork you need to formalize your choices, including provisions for management, ownership transfers, and profit and loss distributions.
A partnership is created when two or more individuals or businesses join to pursue a common business interest. Your partnership agreement should accurately describe each partner’s rights and responsibilities.
There are several types of partnership agreements:
- In general partnerships, all partners manage the business and are personally liable for its debts.
- In limited partnerships (LP), the limited partners’ liability is limited, and they have no voice in decision-making, but the general partner may be personally liable for its debts.
- In limited liability partnerships (LLP), all partners have some degree of limited liability.
Fitter Law’s attorneys are experienced with partnership agreements and can help you determine whether a partnership is a good idea for your business, and which type of agreement would be best for your business.
Debt and Lending Agreements:
When your company buys something on credit, it borrows the money from a lender and puts your company in debt. The paperwork documenting this transaction is a loan agreement. For example, you may obtain a loan to start or grow your business; or manage day-to-day operations of your business. More complicated loan agreements for commercial business operations may include complex credit agreements, promissory notes, security and guarantee agreements, subordination or inter-creditor agreements, patent or trademark collateral security agreements, assignment and assumption agreements, hazardous substance indemnity agreements, mortgage agreements, and accounts receivable letters of credit. When substantial amounts of money are involved, you’ll want to use one of our attorneys to help you analyze, negotiate and draft such lending agreements.
Franchise law applies to franchises who allow you to buy and operate a business using their trademarks, name, and business methods. In return, you, the franchisee, get the name recognition value and reputation of the franchisor. Fitter Law’s attorneys will make sure the franchisor treats you fairly. Franchises can be expensive, and when you buy one you are gambling on the franchisor’s success. Our attorneys will help you determine which of the many franchise laws, that prevent the franchisor from taking advantage of you, should apply in your situation. If you are considering franchising your business, our attorneys can also help you with that decision.
Commercial law focuses on the sale and distribution of goods, as well as financing of certain transactions.
Commercial law is primarily regulated by the Uniform Commercial Code (UCC), which is a model set of laws regarding the sales of goods, leases of good, negotiable instruments, and secured transactions. All states have adopted some form of the UCC, though each state is free to make its own modifications to the laws as it sees fit. Because many states have modified at least some of the UCC provisions to fit their needs, it is important to hire a lawyer familiar with the UCC as it has been enacted in your state.
If you need help with a business law services, contact Fitter Law today.