Niche attorneys typically focus their practice on one type of law. Personal injury attorneys focus on accidents and worker's compensation laws, divorce attorneys on divorce and child custody laws, etc., exemplify the focus all lawyers have on cases they want to defend. However, business attorneys have a much broader range in their practices.
Establishing a Business
Establishing a business may require a business attorney. Sole proprietorships typically are the only ones that do not need a lawyer. Limited liability companies (LLCs), closed companies, publicly traded companies, etc., all need help from a lawyer to become effectively established. This is just one area where these lawyers operate.
Transforming a Business
Businesses that are not publicly traded but decide to become so are transformed through a lot of legal paperwork. Business lawyers are hired to make that transformation process a reality. Once the paperwork is filed, the company becomes another symbol on the stock market's ticker tape, and the public can buy shares. Sometimes business lawyers get a few shares as part of the compensation package for making this transformation happen.
Defending the Actions of a Business
Wealthy companies are sued often. Everyone wants a piece of you when you have wealth. As such, companies that are sued need business attorneys to defend them. Company actions or promises that are misconstrued or unethical may be the grounds for these lawsuits. Embezzlers and environmental destruction can also be at the heart of these lawsuits. Business lawyers hired by these companies work to defend their clients and their companies.
Filing for Bankruptcy
What business lawyers do does not end with any of the above. Business lawyers can file for bankruptcy for these companies as well. They handle the bankruptcy paperwork and accounting matters for the bankruptcy court. They can appear in court on their clients' behalf and settle the debts of the company. Should the company go utterly bankrupt and close its doors permanently, the lawyers continue to work with the clients and companies to find viable solutions to debt absolution.
Business Attorneys Cover a Lot
As you can see from the examples above, business attorneys cover a lot. Because there are so many aspects to business law, some firms have a lawyer for each particular aspect. Clients and companies often have to hire an entire team of lawyers to handle legal affairs for business, which can get expensive, but worth every penny spent. Contact a firm, like the Law Offices of Bonnie M. Benson, P.A., for more help.