Nashville, TN – It is common for new business owners to make a number of errors and mistakes that can result in lost time and money. After the most serious mistakes, the business can end up in legal trouble and have to navigate lengthy court battles. There are some areas of the business that can always benefit from legal help, and depending on the specific company in question, the lawyer may be able to draft new documents or remedy other issues.
Problems with incorporation
Tennessee has laws related to forming a business, and these tend to vary by state. The business should have initial documents in place that detail the business structure, and others such as charters and partnership agreements when necessary. The founder should also formally incorporate the business and observe relevant tax regulations. If a business is still within its early days, a lawyer may be able to redo or rewrite any relevant documentation and make the appropriate filings.
All agreements that will be relevant to the functioning of the business should be formalized in writing and reviewed by an attorney. Things like oral and informal agreements can become problematic at a later time, especially if contract disputes arise regarding fraud or misrepresentation. If there is no formal contract, the business will likely have trouble proving that there was a breach.
Laws related to investment and securities
Some businesses will require initial capital investments to start functioning and begin operations. However, things such as securities regulations will apply to investments and there are various fiduciary duties that a business owes to its investors. These need to be observed in accordance with any relevant laws.
Real estate and property issues
Many businesses will need one or more physical spaces either through lease agreements or ownership. However, there can be problems with construction of a new building, the language contained in a lease, and disputes over paying workers who build and furnish the space. Attorneys who deal with real property and business leases can help resolve any problems that occur, as well as review transactions related to property to minimize the likelihood of issues at a later time.
Even if a business is starting out and only has a few employees, it is important for these relationships to be formalized in some manner. Disputes over wages and pay are common, as well as issues related to how intellectual property and proprietary information should be handled.
Learning more about business law
Help is available to anyone who needs assistance from a business attorney in Nashville. The Law Office of George R. Fusner can meet with local business owners to provide guidance.
Firm contact info:
7104 Peach Court, Brentwood TN 37027