Why Business Law Is Important
For companies operating in Indianapolis, business law is an important area of the law to understand. Several key areas of business law impact day-to-day operations. The most obvious area is compliance, as there are numerous laws and regulations with which businesses must comply. Staying on top of current laws can be difficult. A lawyer who specializes in business law can help businesses understand how to remain compliant with the law.
Two other important areas of business law are contracts and dispute resolution. Although entering into a binding contract is often an important routine part of the business process , many companies fail to understand how to properly protect their interests via contracts. Like compliance, the law in this area is constantly changing. An attorney experienced in drafting contracts can help protect your company in a number of different ways.
If any dispute arises concerning compliance with a regulation or a contract, a business law attorney can help work towards a resolution. It is always recommended that a business attempt to resolve any disputes that arise with a customer or a vendor outside of court. However, if a dispute cannot be resolve, attorneys experienced in business litigation can help businesses protect their interests in a courtroom.
Attributes of a Good Business Law Attorney
However, not every lawyer has the experience, track record, and ability to be an effective ally for your business as you navigate the complex world of business law. Here are some qualities that separate good lawyers from the rest:
Experience: Experience is fundamentally important in any legal counsel. Indianapolis companies require a lawyer who has been active in the practice area for years. This means that they are deeply familiar with local and state laws and practices, industry conventions, and the more efficient ways of handling a problem.
Specialization: While every business attorney should be able to handle a wide range of commercial matters, no one lawyer can be trusted on every account. A business attorney who has focused their career on a particular niche within business law will be most likely to deliver you the best result. Whether that means litigation, contracts law, mergers and acquisitions, or something else, Indianapolis businesses are most protected with specialized legal counsel.
Testimonials: There’s no better way to evaluate a business lawyer’s performance than to review their previous work. Many lawyers have past employment records that can be submitted for review, as well as case studies and testimonials from satisfied clients. Ask to see some examples of their work before making your choice.
Business Law Attorney Services
The range of services that business lawyers in Indianapolis offer. From drafting legal documents and establishing partnerships to negotiating deals and forming corporations, business law attorneys are there for you. Indianapolis business law attorneys help with all aspects of business from putting together documents that will contain your terms and conditions to writing the partnership agreements and terms of sale. The goal of Indianapolis business law attorneys is to look out for your business to make sure that you have absolutely everything in place so your interests are always protected. If you are selling a corporation, business law attorneys in Indianapolis negotiate the sale for you making sure that you get the most for your investment. If you are buying a corporation, they also negotiate the deal representing your interests. Either way, business attorneys in Indianapolis will give you exceptional care and service in the field of business law. If you get sued, or you end up in business litigation, business law attorneys in Indianapolis represent you and the business in court.
How to Choose an Indianapolis Business Law Firm
In selecting an Indianapolis law firm for your business legal needs, first consider how large a firm you and your company need. A one-person firm might be appropriate if you are a solo entrepreneur without employees or a real business plan yet. Until you pass the point of needing to register your business with the Indiana Secretary of State, and then apply for a Federal Employer ID Number from the IRS, you probably don’t need to invest in the expense of hiring a business law attorney.
As you get past the initial start-up phase, however, you will find yourself needing to hire an attorney who has deep and broad experience in business law. Typically, you would think of contacting a large business law firm in Indianapolis for your legal needs. However, the fact is there is a level of differentiation in the industry when it comes to large law firms.
On the one hand, you may walk into a six-lawyer firm with 20 employees and state-of-the-art technology that seems like an Indianapolis medium-sized business . An alternative large business law firm has a dozen lawyers but 50 staff members. Along with that, these two firms could have vastly different rates as well. You can see that determining the right Indianapolis business law firm already has many variables.
A general rule of thumb is to find the right sized law firm for you based on the number of lawyers who will work on your business issues. If a larger firm has senior partners working on your individual account, then management and junior partners are doing the bulk of the legal work or scrubbing the contracts reviewed by your business law attorneys.
On the other hand, if you are at a stage where you are ready for mergers & acquisitions or intellectual property rights law, then you will want a large law firm in Indianapolis to support you with the ancillary business law you will need. The large firm may assign support lawyers to you and your firm in order to handle day-to-day needs and issues, which will free up the senior partners to look at possible merger scenarios or complex business deals.
Local Knowledge: How to Do Business in Indianapolis
As the third-largest business and commerce center in the Midwest, Indianapolis offers many benefits to companies, including a strong labor market, low cost of living and a rich industrial base. With 11 Fortune 500 companies and over 300 additional national and regional companies, large and small, headquartered in the city, Indianapolis is a place where businesses can thrive. Companies can look to local legal expertise for assistance with a wide range of issues. From assistance with employee leasing through a professional employer organization to understanding the myriad state and federal employment laws applicable to Indiana and other states, local attorneys can assist businesses with various employment law issues. Attorneys can advise businesses regarding workplace safety and health regulatory issues, as well as offer guidance as those companies develop a return to work strategy. Attorneys also understand the rules and regulations concerning economic development in the area. For instance, they can assist with applications for target industry loans and grants or advise on the requirements for local business tax incentive programs. They also can provide guidance to businesses concerning the hiring of out-of-state employees or subcontractors. In addition, there are a number of trade associations and networking organizations that can provide opportunities to connect with potential clients and business partners as well as access to educational programs concerning the business of operating a business in Indianapolis.
Commonly Asked Questions
At the Law Office of James H. Brown & Associates, we recognize that our clients have many questions about their legal options when it comes to choosing a business law attorney. Here are some of the most commonly asked questions and the answers:
How long have you practiced business law in Indianapolis?
Our firm has been practicing business law in the state of Indiana for over 30 years. Our knowledge of the field will help you get the answers and results you deserve.
What types of businesses do you represent?
Since our lawyers have a wide range of experience and expertise, we can represent businesses in many fields. We represent both for-profit and nonprofit businesses that operate in various different industries.
Are you familiar with my type of business?
Our attorneys have a vast array of knowledge of different kinds of businesses and the relevant laws that affect them. No matter what your business model may be or what area you operate in , we can analyze your situation and help you determine how to proceed.
Are fees on an hourly basis or do you charge a flat fee?
For most legal matters we will charge you on an hourly basis. For some business contracts, however, we may be able to offer a flat fee rate.
If I have several legal matters that need to be handled do I have to pay for them all separately?
In most situations, we will handle multiple legal matters for an initial retainer.
Will you represent me if we end up in litigation with another party?
Most business matters do not require litigation but if it does then we may be able to represent you in your case. If you are facing litigation, however, we strongly recommend that you seek an attorney who specializes in litigation matters. Our firm does not handle litigation so we do not represent clients in litigation cases.