At first glance, many people would think that lawyers are all about foreclosures and car crashes. But that’s far from the truth. Lawyers do a lot of different jobs, and not just in the courtroom. The following are all you need to know about Business Attorney Atlanta GA:
1. Business attorneys serve many different types of clients
Business attorneys represent a broad range of businesses. Business law is important to any business that wants to stay in business, so it’s a good idea to consult with a business attorney. Business attorneys can help you plan your business, draw up necessary documents, and provide general legal advice. They can also assist you with any legal issues you might encounter during the course of your business.
2. The role of corporate counsel
Corporate counsel does much more than simply providing legal advice for their company’s employees or for the company itself. These lawyers are also responsible for ensuring that their company follows all applicable laws and regulations, including those related to taxes and patents and copyrights. Because of this, corporate counsel is responsible for keeping all expenses at a minimum to help their company stay in business.
3. Intellectual property lawyer
Although it sounds like it should be a very obvious thing, there are a lot of people out there who are ignorant of the fact that intellectual property laws protect and preserve the rights of both individuals and companies. To the surprise and devastation of many, intellectual property theft is becoming more prevalent each and every day. If your business creates something that could be considered an intellectual property (IP) work, you need to know how to protect your IP from theft. Intellectual property lawyers are responsible for helping clients do just that.
4. How partnerships work
Partnerships are an important way for businesses to become more profitable and efficient. However, there is a lot of confusion surrounding the world of partnerships. What is a partnership like? How do they function? The following are all you need to know… Partnerships vs. Sole Proprietorships:
In a sole proprietorship, there is only one owner of the company or business. While this type of business is not technically considered a partnership, it’s very similar in that its income is only taxed once compared to the multiple times income taxes would be levied against partners in a partnership.
5. A sole proprietorship that is registered with the state
Owning a sole proprietorship that is registered with the state is another variation of businesses where one person – the owner – acts as both an entrepreneur and a business. In these types of business, businesses are taxed twice: Once on their gross income, and once on their net income. That’s because they are considered a pass-through entity. That’s very different from corporations, LLCs, or other similar business models that pay taxes just once on their net profits.
6. What an LLC is
An LLC or limited liability company is a type of incorporation for small businesses. It’s a great choice for small businesses that need limited liability but do not want to incorporate as a corporation. In an LLC, members are not considered employees of the company, which means they are not protected by employment laws. That’s because an LLC is a pass-through entity: it simply means that all its profits and/or losses pass through to the owner (member). An LLC is taxed as a partnership and it must file an informational tax return during tax season.
There are a lot of different types of lawyers out there, but they all serve different purposes and do a multitude of jobs. Be sure to take time to learn as much as you can about who your lawyer is and what they do for you.