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How Important is a Business Lawyer?

For those small business owners, having a lawyer is similar to calling a fireman or a plumber. One may just do this if there is a problem. So many of the new startups and businesses need staffing, sales, marketing as well as getting the business of the ground take priority over the other legal problems, particularly the issues which don’t seem to be of a main concern. They would forget the small businesses that the small business planning could prevent the problems and ensure that the business is protected from any trouble.

A lot of the assets of the business that are intangible need to be legally protected. The logo of the company, the brand name and the distinctive goods as well as services are entitled to copyright information. The semiconductor chip would mask such designs, exclusive computer software, vessel hull design and other creations can be eligible for the trademark registration. The people would usually think that patents cover just machines and also other manufactured products but they can be used to protect the processes like the new method of refining the crude oil, new compositions of matters like the mixtures or the chemical compounds. Copyright, patent, trademark and copyright registrations can help the business in protecting the things that give the business that competitive advantage in the market.

While a lot of the corporations will use an attorney to help with the process of incorporation, the new businesses at times would neglect the on-going legal requirements in order to maintain the corporate status. Annual shareholder, directors and also the partner meetings should be held and the recording of minutes and election of officers must conform with the state requirements. Failure in doing so may jeopardize the corporate status and would result in piercing the corporate veil in the event of such legal action or a lawsuit and this would expose the corporate officers to legal issues or personal liability.
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So many of the companies, particularly those which deal in technology services and products would count the knowledge that the employees have a really essential asset. But, some of them would fail to protect the assets by lacking that non-disclosure agreement with the employees. Some employees would leave the company and it is really important that you would protect the business from taking the knowledge that they have acquired and trading this with the competition.
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So many entrepreneurs are quite focused on starting the new businesses and they don’t consider what wil take place if one of the principals leave the business. If a big partner or shareholder would decide to exit the business all of a sudden, this can threaten the new business’ ability to continue operating. This is the reason why it is very important that you work with the business lawyer.