A business lawyer offers crucial legal advice across nearly all aspects of a business, acting as a valuable resource for emerging small businesses that may not be familiar with the bureaucratic processes involved in implementing their business model. Typically, a business lawyer ensures that a company complies with local laws and regulations, providing guidance from the formation of the business to its eventual dissolution. Business lawyers also assist with lawsuits, contract reviews, employee manuals, and policy enforcement.
Specialties of a Business Lawyer
- Drafting a business plan to present to potential investors.
- Conducting research to ensure that a business name or logo is free from copyright or trademark infringement.
- Creating partnership agreements.
- Clarifying the often complex aspects of submitting IRS forms and managing taxes.
- Addressing issues related to federal agencies that may file complaints or investigate a business.
- Managing lawsuits that involve the business, either directly or indirectly.
A corporate lawyer typically works within a corporate environment, often representing larger organizations. Sometimes referred to as transactional lawyers, corporate lawyers draft contracts, help avoid litigation, and manage the behind-the-scenes legal aspects of growing companies. Corporate litigators can also serve as corporate attorneys, representing companies in lawsuits, whether they are the plaintiffs or defendants.
Corporate lawyers are often found in large law firms or serve as in-house counsel, working within the legal department of a corporation and collaborating with other departments to ensure sound business decisions that comply with both local and international laws.
Specialties of a Corporate Lawyer
- Assisting with the incorporation of a business or providing ongoing advice for an already incorporated entity.
- Ensuring compliance in contracts, especially those involving international parties.
- Addressing investor rights, acquisitions, and corporate structure issues.
Business Lawyer vs. Corporate Lawyer
A key distinction between corporate and business lawyers lies in their focus areas. Corporate law typically encompasses guidelines for buying and selling goods and services, particularly in the international market, and can have significant implications for companies that encounter legal issues stemming from breaches of corporate regulations. In contrast, business law addresses areas such as employment and taxation.
Corporate law pertains to corporate entities and their management and formation, while business law covers broader topics, including commercial transactions and employment matters. Both areas are essential for any business, regardless of size, including limited liability partnerships, sole proprietorships, and mergers.
To differentiate easily between corporate and business lawyers, consider that business law focuses on activities related to buying and selling goods, whereas corporate law is concerned specifically with the operations and legality of corporations. For further information or to get your questions answered, contact us today.
