Why You Need A Business Lawyer To Protect Your Chicago Business

Do you own a business in Chicago near the Art Institute of Chicago, Field Museum, or elsewhere in the Windy City? Or, are you considering opening a Chicago business near the Lincoln Park Zoo?

If so, you would be well served to hire a Chicago business lawyer to protect your interests. First, discover below why hiring a Chicago business lawyer may be the wisest choice of your life. Then, if you have questions about opening a business, speak to one of our Chicago business lawyers at North Suburban Legal Services today.

Do Not Wait Until You Are Sued

A skilled business attorney can assist you in many areas of your business. However, many business owners should wait to hire a business lawyer until they have a court summons. Once you have been called to court, the problem has already happened. Now, it is just a matter of how much you will have to cough up to resolve the issue. It is always best and less expensive to resolve a legal matter before it gets to the litigation stage.

Hiring a lawyer early in business formation is an intelligent way to avoid trouble before it happens. While no one wants to pay legal fees, doing so before on can save trouble later. It is well worth paying a $1,000 legal fee to prevent you from being sued, which will cost you much more.

Select The Correct Business Entity

When you begin your business in Illinois, you need to organize it under one of several business structures. The business structure you select will affect how you run the company and the state and federal taxes you pay.

It is often best to talk to a Chicago business law lawyer to choose the correct business structure. They will help you determine if you are best to work as a sole proprietorship, LLC, S corporation, or another entity. You can save thousands of dollars in taxes annually if you choose the correct business entity.

Safeguard Intellectual Property

When you own a business, you may create an original product or idea that is unique to your company. This product or concept belongs to your business and is your intellectual property. It would help if you had it legally protected to ensure this property is not stolen or used without your consent.

A Chicago business lawyer can assist you. They can file for protection for your company’s intellectual property, handle the fees and paperwork, and speed up the process as much as possible.

Comply With Taxes

Complying with state and federal taxes is one of the most challenging parts of running a business. Your attorney’s advice can prevent state and federal tax issues later. They also can unearth deductions and credits that can save you a lot of money.

Also, your attorney can help you keep a recordkeeping system that makes it easier to file your taxes every year. They will inform you of tax due dates and ensure you are compliant.

Create And Enforce Contracts

Strong contracts that are enforced are the ideal way to protect your company’s interests. These legally binding documents are vital to running and growing a company. Having a Chicago business lawyer in your corner who writes and reviews the contracts is essential.

Many small business professionals start their companies with friends or family members. Unfortunately, they may think nothing could go wrong with someone they know and neglect contracts. You can avoid many ugly problems by getting everything in writing upfront. Then, your business attorney will create contracts that protect the interests of everyone.

Deal With Employment Issues

Employment law evolves constantly. You can protect your company and workers by using an attorney to help you. Your attorney can advise you on hiring, firing, and retaining employees legally.

Your company will be helped if you set clear expectations with new workers from the beginning. Then, your business attorney can construct an employment contract that tells them what to expect. It also states how they will be paid and the benefits they get. The agreement also may have confidentiality clauses and terms for terminating employment.

Your attorney also can assist you with putting together an employee manual. This is an invaluable document that tells your employees what they can expect. Everything from how people dress to paid leave can be covered. When you have everything explained in writing, it protects you legally and avoids problems down the road.

Help With Bankruptcy

No one thinks about going bankrupt when you start a business. The company can continue. Your business attorney can help you during the bankruptcy process so you can recover and resume business.

Some companies eventually need to file for Chapter 11 bankruptcy, which allows you to reorganize the company. Then, with the help of your attorney, you can devise a plan to make things okay with creditors and get the business in the right direction again.

Represent You In Court

Most business disagreements can be settled out of court. Your business lawyer in Chicago will be at your side, fighting for your rights. They will advise you on the best course of action and work for the best resolution.

If you get into a business disagreement that goes to court, you want to go through that with a business attorney advising you. Even if you are an expert, you probably are not an attorney and are emotionally involved in the matter. Your attorney is an objective advisor who will provide the best legal advice.

Speak To A Chicago Business Lawyer Now

Whether you are starting or growing your business, it is always recommended to have a business lawyer as soon as possible. A business lawyer can provide the expert legal advice that makes your company more successful.

The Chicago business lawyers at North Suburban Legal Services are ready to assist you with your business. Our attorneys have years of expertise and experience helping Chicago business owners like you. Contact North Suburban Legal Services today for a complimentary consultation at (312) 909-6089.




    Our Office Locations:

    Chicago Office:
    200 East Randolph St., Ste 5100
    Chicago, IL 60601
    Phone: (312) 909-6089
    Schaumburg Office:
    1990 East Algonquin Rd. Suite 100
    Schaumburg, IL 60173
    Phone: (312) 909-6089

    CONTACT US FOR A FREEconsultation

    (312) 909-6089