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- A business lawyer helps companies with legal matters including starting a business, contracts, trademarks, taxes, and regulations. They draft contracts, permits, licenses, and agreements outlining financial and practical company decisions. Lawyers ensure your business follows area rules and can register your company name or create a limited liability corporation. Some lawyers specialize in patents or intellectual property.
- Benefits of hiring a lawyer include ensuring legal compliance, protecting your business, and obtaining all necessary licenses and permits. However, costs may be a drawback unless specific legal expertise is required. It is recommended to handle basic setup tasks like licenses yourself but consult a lawyer for contracts and legal matters that carry significant weight. The decision to hire an attorney should be based on your growth plans and assessing complexity versus cost.
- Under Attorney Rule of Professional Conduct 5.4, law firms are prohibited from offering ownership or investment opportunities to non-lawyers. Any business providing legal advice is considered a law firm. Lawyers may also be licensed in other professions like real estate, insurance, investment counseling, and medical practice. Some lawyers engage in side businesses such as personal training, art, music, writing, or furniture refurbishing.
- What kind of lawyer can make the most money?
