Business Law Lawyer in Palatine, IL  Business Law Lawyer Palatine, IL

When business owners approach business formation and operations, there will be several decisions to make, and the assistance of a business law lawyer in Palatine, IL will be critical. While you may feel confident, and things may be running smoothly, proactively enlisting counsel from a lawyer from Bott & Associates, LTD may ensure that legal problems are managed and mitigated promptly. Be aware that even the slightest problem left unaddressed could significantly impact the livelihood of a business. Without the proper legal knowledge and support, business owners are susceptible to legal issues before they are even aware they did something wrong. While some business owners retain a lawyer, others may access a legal professional on an as-needed basis. Here some key examples of when to contact a business lawyer for guidance:

Business Formation

It should come as no surprise that the formation of a business can be rather complicated, especially for a novice business owner. The structure you choose will be critical because each type offers several benefits. As a business owner, you will want to ensure that you have selected an appropriate formation for your business that offers the most advantages. Some of the most common business structures include: 

  • Sole proprietorship
  • Limited liability company (LLC)
  • Nonprofit
  • Partnerships
  • Corporations

When you work with a lawyer on your business structure, they will examine your business and consider the liability, tax implications, financial obligations, and expenses. By properly forming your business, you can feel confident that you are starting on the right foot. 

Managing Contracts

Contracts are a critical component to running a business and are necessary to ensure that expectations are clearly outlined. Whether you are in the process of drafting a contract with another party or dealing with a possible contract breach, it may be in your best interest to have help from our Palatine, Illinois business law lawyer. Contracts are drawn up for many reasons and can help provide clarity for all who are involved and serve as key evidence should a problem arise. Examples of situations that may require a contract include:

  • Exchange of goods and services
  • Indemnity agreements
  • Insurance agreements
  • Noncompete agreements
  • Partnership agreements
  • Non-disclosure agreements

When contracts are well executed, the parties involved have a clear idea of the expectations. Additionally, contracts can play a vital role if legal action is necessary. 

Employment Issues

It’s recommended that before you hire your first employee that you have a clear understanding of employment law. Additionally, having proper policies and protocols in place that align with state and federal law can help to protect your business should issues arise later on. Having employees can be challenging, but you can mitigate possible legal issues when there is a clear set of expectations. Employment laws every business owner should have some basic understanding of include: 

  • Family Medical Leave Act
  • Fair Labor Standard Act
  • Occupational Health and Safety Act
  • The Civil Rights Act of 1964
  • Whistleblower Protection Act

With the assistance of an attorney from our firm, we can help you put proper employment procedures and policies in place. Having a lawyer available can play a pivotal role in answering questions as issues arise and providing guidance and legal assistance when you need it the most. In doing so, you can mitigate problems that may result in costly litigation. 

At Bott & Associates, LTD, we want to assist business owners in thriving for many years to come. One key component to this is engaging in proactive planning with a legal professional from the very start. Whether you are in the formation stages of your business or are managing any issues that may result in litigation, we can assist. Start today by reaching out for a consultation with our Palatine, IL business law lawyer.