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4 Different Branches of Business Law

4 Different Branches of Business Law

Owning a business requires great attention to detail on your part, especially when it comes to legal matters. Business agreements, employee rights and the drafting of contracts are usually required, and these tasks can all be made simpler by hiring a business attorney. There are quite a few branches and specialties within business law, and knowing what they are may help you make the best possible choice when hiring a lawyer.

1. Contract Law 

Creating contracts is usually a vital part of any business, no matter its size. Employer-employee agreements, the sale or trade of goods and partnership agreements may all be necessary as you build your company. An attorney who specializes in contract law can assist you with contract language and ensure that your best interests are being met in any written contract. For example, if you plan to sell part of your business to invest in the formation of a secondary company, a contract attorney can help you draft a contract with the buyer in language that is agreeable for you both.

2. Antitrust Law 

Running your business in an ethical manner can help you avoid legal issues and ensure healthy competition in the market. Identifying unfair practices can be difficult, even in a small business or one that has many owners. An antitrust attorney can assist you with legal matters and help you to identify ethics issues inside your own business operations that you may not be aware of.

3. Business Tax Law 

Even small businesses are subject to a variety of tax laws that must be followed. Excise taxes, employment and property taxes on your brick-and-mortar business can affect your bottom line, as can their payment deadlines. A business tax attorney can organize and manage your tax issues, including preparing your yearly company returns and advising you about any tax breaks you may be eligible for.

4. Business Litigation Law

While you probably work to ensure your business runs smoothly, you may run into unexpected problems that require litigation. Employee disputes and breached contracts can have a serious impact on your company’s reputation and profits, and time and money spent on court cases can affect your ability to run your business on a daily basis. As the attorneys at Cohen & Cohen can explain, having a litigation attorney in your corner can give you peace of mind that any legal issues are handled professionally and swiftly.

You might have a variety of questions regarding the legalities of your business, but help is available. Contact an attorney today for further information and advice or to schedule an initial consultation.