Lawyer for LLC: Everything You Need to Know
Hiring a lawyer for LLC legal problems — like being sued — is imperative. Attorney fees can vary in amount. 3 min read
Hiring a lawyer for LLC legal problems — like being sued — is imperative. Attorney fees can vary in amount. However, having a business lawyer to defend your company, should the need present itself, can often spare you more in the grand scheme of things than the expense.
Also, attorneys are reliable consultants that can help with preventive measures to avoid specific legal issues, which can prove beneficial as you run your business. Although prevention does not always mean you have to get a lawyer, consultation can be extremely valuable.
You do not need a lawyer when it comes to many legal concerns that arise. However, attorneys are valuable. They can keep your business compliant with state and federal laws and also can guide you away from situations before it is too late.
Some aspects of business, even when dealing with a lawyer for LLC, may confuse you. If you are just starting your business, they can be a vital asset in keeping your firm running smoothly. Having an attorney with business expertise working with you should offer comfort and confidence.
What Can You Handle Doing for Your LLC Without a Lawyer?
In starting and maintaining your LLC, you have tasks that may be daunting and complex. A lawyer can step in to clarify. However, other obligations for managing your business are not too difficult to complete or understand. A lawyer is unnecessary in these cases. Some of these matters are:
- Undergoing Internal Revenue Service audits
- Creating a plan for your business
- Changing existing shareholder, LLC, or partnership arrangements
- Doing an LLC name search, which you can do online
- Generating buy-sell deals with your partners
- Having a domain name reserved you want to use for your company's website
- Going into contractual agreements with customers and clients
- Making legal agreements, such as a shareholder, LLC operation, or partnership agreements
- Documenting any meetings for your limited liability company
- Making contracts with vendors or hiring independent contractors
- Getting an EIN or employer identification number from the IRS
- Filling out any IRS forms necessary for taxation
- Recruiting employees, but always keep in mind there are local and federal laws that discourage discrimination in the hiring process
- Completing applications for business permits or any required licenses
Times When an Attorney Is Vital
A business lawyer helps when you get laden with liability concerns, but also when something is not understandable or when action would require too much time. You should contact an attorney when:
- Gaining another company or its assets or when bargaining the sale of your business.
- Employees — prospective, current, or former ones — sue you after getting fired, having to work in a hostile work environment, or for claims of hiring discrimination.
- Your LLC is on the wrong side of an environmental issue.
- Making an appreciated property contribution to agreements of your LLC or partnership, or if you wish to make a special allocation of profits and losses.
- Federal, local, or state agencies of the government investigates or files a complaint about the violation of specific laws.
Startups Need Legal Representation With Three Primary Groups
Small businesses must deal with specific entities that most times require a lawyer. Legal interaction at a fundamental level will include:
- Government: You need to pay taxes and operate your firm, so you do not cause undue tax liability. While running your business, you want to ensure compliance with all laws.
- Public and third parties: Be cautious with all public, user, employee, customer, and supplier interactions to eliminate risks.
- LLC members: Make sure all owners or founders of the company know of organizational expectations and their rights to decrease the risk of future misunderstandings or disagreements
Consider a Lawyer Consultation Arrangement
If you want to avoid paying attorney fees unnecessary when first starting your LLC and especially the costs associated with being sued — which could become monstrous — you might consider having agreements for consultation. With the proper consultation arrangement with a lawyer, you will be responsible for conducting relevant research for a matter, but an attorney oversees and guides you as needed. Take, for example, creating a new vendor contract. You first could use self-help resources available online to draw up the deal. Then, an attorney would look over your agreement and provide feedback and offer any suggestions to ensure what you have is sound.
If you need help with a lawyer for your LLC, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Stripe, and Twilio