If you’re involved in a business venture in Vancouver, Washington, it’s wise to form a partnership with a business lawyer Vancouver Wa. True, in this day of the internet, it’s easy to locate legal advice of all sort online and to download contract templates from legal technology companies. However, these solutions tend to be of the one-size-fits-all variety while your business faces unique challenges. Additionally, certain business situations absolutely require the services of a skilled attorney.
Setting Up Partnership or Shareholder Agreements
Incorporation document templates are readily available on many different websites. Download them, have the appropriate parties sign on the dotted lines and you’ve closed the deal, right? Not so fast. These templates are seldom flexible. Often, they fail to address critical issues like exit strategies, capitalization tactics, or what happens if ownership shares must be diluted. An experienced business lawyer will anticipate circumstances that can arise as a business grows and will prepare an agreement that contains language that addresses all contingencies. This greatly reduces the risk of future disagreements among stakeholders that could seriously derail your business’s value proposition.
Is that person working for your company an employee or an independent contractor? Well, that depends upon an interpretation of the relevant Labor Department guidelines and the results of the 20-point test the IRS recently issued to distinguish between these two classes of labor. The legal nuances here can be quite difficult to parse, and the consequences of confusing employees with independent contractors can be costly down the line. Here’s another instance where working with a business attorney may be able to save you time, worry and even money at a future date.
Another thing about contracts you find online is that they sometimes contain language that may seem extraneous but may actually turn out to be restrictive because they impose conditions that are extremely difficult to get around. A business lawyer will review your contracts before they’re signed to make sure that none of the provisions are ambiguous, irrelevant or problematic in terms of enforcement.