Hennepin County Business Lawyer
Practical Legal Guidance for Business Owners
If you are an entrepreneur, you have worked diligently to grow your business through hard work and determination. Whether you have been operating for years or are a new business, the last thing you want to deal with is unforeseen legal issues that could affect your profitability. The most effective way to protect your business and personal interests is to hire a lawyer who will work to protect everything you’ve built.
Barbosa Law Group PLLC has significant experience helping small businesses with their legal needs and is ready to help. Contact our Minneapolis law office today to schedule a free consultation to learn more.
What are the Legal Benefits of Hiring a Business Law Attorney?
When you run your business, it can be easy to get caught up in day-to-day operations without giving much thought to legal issues. Many business owners mistakenly believe that registering an LLC will provide all the legal protection they need. Even so, when disputes arise, having a business law attorney in your corner can make all the difference.
Some of the most essential legal services that your attorney can provide include:
- Protecting your personal assets and keeping them safe from business debts
- Managing enforceable contracts, such as customized operating or confidentiality agreements
- Protecting your intellectual property
- Business succession planning
What Contracts Are Most Essential for Business Owners?
No matter what type of business you own, several types of contracts are essential for your success. Some of the business contracts that our law firm can assist you with include:
- Partnership Agreements: Define key roles, provide guidelines on how to manage disputes, and manage finances in general or limited partnerships.
- Operating Agreement: Used in LLCs and helps to separate your business interests from your personal assets.
- Shareholder Agreements: Provide a defined legal framework that defines relationships between investors.
- Buy-Sell Agreements: Provides legal clarification as to what should happen if the owner(s) die, retire, become disabled, or divorce.
- Commercial Lease Agreements: Comprehensive commercial lease agreements define a business owner’s responsibilities concerning maintenance, fluctuating expenses, and protect them from overcharges and liability lawsuits.
How Do I Protect My Business Assets From Personal Liability?
No matter what type of Minnesota business you may own, protecting your business assets from personal liability should be one of your top priorities. While most small businesses use legal structures such as LLCs to protect their assets, many entrepreneurs fail to take steps to shield those assets should they face personal liability.
For example, with the help of a skilled lawyer, you can build a solid business defense by drafting an Operating Agreement that only allows personal creditors to obtain a “charging order” to access profits if you choose to distribute them. Many Minneapolis small business attorneys also recommend a multi-member strategy by adding a spouse or child. This makes it more challenging for a creditor to try to lay claim to a business’s assets
It is vital to remember that because every business has a different structure, seeking legal advice from a qualified attorney is the best way to protect your interests.
Contact Barbosa Law Group PLLC Today So We Can Get Started Protecting Your Business
Barbosa Law Group PLLC is a law firm that is committed to helping business owners avoid costly and time-consuming litigation. No matter if you have questions about sale or purchase agreements, complex business transactions, or want more information about how to manage your startup, our legal team is here to assist you.
Contact our Minneapolis law office today at 612-887-9286 to schedule a free consultation.