Operating a business today is much more involved than it was 20 years ago. The Federal and state statutes have added considerable reporting requirements and operating demands on nearly every business. The business owner cannot always sort out which law or regulation affects their business. A business lawyer in Rapid City area is needed to work with the business owner to make sure the business and the owner is protected.
The following are just some of the major matters which can face a business owner:
- Breach of contract disputes with third parties that could result in an economic loss.
- Business breakups and dissolutions require a lawyer to ensure that the owner is fully protected.
- Minority shareholder rights need to be considered in any major decision.
- Valuations of business entities require a lawyer and a CPA working together.
- Wrongful termination can lead to an expensive court fight and a significant monetary loss.
- Preparing non-compete agreements.
- Enforceability of non-compete agreements is critical if an employee leaves with information which could lead to a new company or to providing a competitor with valuable information about a process or a product.
Providing succession agreements and working arrangements if the owner is disabled is vitally important. A trust which provides for the owner’s family if he dies is essential.
A Business Lawyer in Rapid City can guide the decision making process when an issue arises that involves the operations of the business and the legal matters that could arise from that decision. The substantive areas of practice include taxes, contracts, copyright, trademark, patent, labor and employment law, real estate transactions, environmental law, water law, banking, and energy.
One important contribution a lawyer experienced in business and employment law can make is to ensure that the owner understands every discussion with an employee should be recorded on paper and filed securely. These documents are very valuable if the employee is discharged for repeated violations of company policy after being told a number of times to refrain from the objectionable activity. The lawyer should advise his business client that if the employee sues for wrongful termination, the owner could loose the case and a lot of money if records are not kept.
