Business Attorney Rockville, MD
A business attorney can benefit Rockville, Maryland businesses in a broad number of ways. At the Law Office of Daniel J. Wright, we have been helping businesses of all sizes to reach their desired outcomes, overcome legal hurdles, and find solutions to challenging matters. Our legal services are broad and can include starting up a business, resolving a dispute, and everything in between. If you’re unsure whether or not you need a business attorney from our Rockville, MD firm, consider these reasons:
You Are Negotiating a Business Deal or Contract
Nearly every business will at some point enter into a contractual agreement. At times, it may be necessary to negotiate the terms of the contract, and this process could include small details that will make a big difference in the outcome of what is being negotiated. One wrong word, or in some cases, wrong punctuation, and the contractual terms could be misunderstood. This could lead to a dispute between the parties and may require mediation or a court hearing. Before you sign a contract, it is advisable to, at the minimum ask a Rockville, MD business attorney to review the document. You might feel more comfortable having an attorney draw it up to ensure everything is completely accurate.
You Are Structuring or Restructuring Your Business
How you structure your business could impact the way your taxes, liabilities, setup fees, and other operating tasks work. Before you choose a structure you think is best, it may be a good idea to talk with a business attorney that other business owners in Rockville, MD trust to find out what he or she recommends.
You Have Employees
If you have employees, you will be required to adhere to various state and federal regulations. These may pertain to taxes, workers rights, insurance, and so forth. If you’re unsure about what laws apply to your business, you should consult a Rockville, MD business attorney before you begin the hiring process.
You Are Getting Ready to Sell Your Business
Before you agree to the sale or purchase of a business, talking with a business attorney first could protect you from making an irreversible mistake. Selling a business, no matter what it is, is a big deal. It is essential that everything is done right. An experienced business attorney serving Rockville, MD can help you to draw up and file any paperwork, negotiate the price, and much more.
The Government is Investigating You
When any type of government organization is investigating your business, anxiety and stress levels could be over the top. Investigations can happen for a number of reasons including employee or consumer complaints, tax evasion, or fraudulent/illegal business practices. If you have found out that you are being investigated, it is prudent to call a business attorney Rockville, Maryland business owners trust as quickly as possible. Until you find out what the best course of action is by your attorney, it may be in your best interests to remain calm and silent.
Are You Ready to Talk with a Business Attorney?
Regardless of what your business needs might be, you can get advice from an experienced business attorney in Rockville, MD. For over 35 years, the Law Firm of Daniel J. Wright has been helping sole proprietors, partnerships, corporations, and organizations make the right decisions. Contact the Law Office of Daniel J. Wright today to speak with a knowledgeable business attorney from the Rockville, MD area.
4 Reasons To Consider Business or Corporate Mediation
1. It Can Bring About a Peaceful Resolution
Court battles can drag on for months and may cause you to lose both time and money as you work toward winning your case. Such circumstances might also cause you mental and physical stress, which can cause you to lose focus on the most important aspects of running your business. A Rockville, MD business attorney will tell you that mediation can bring about a peaceful solution and avoid the difficulty of a court case, leaving you time and energy to devote to your company.
2. More Flexibility Than Arbitration
Unlike arbitration, where an objective third party reviews all the available information and makes a decision that binds the involved parties to it, mediation involves discussion and mutually agreeable resolutions. This means that both you and the other individual or company in the dispute come to an agreement with the assistance of the mediator, which may give you greater satisfaction with the outcome when compared to arbitration. You may also have your business attorney in Rockville, MD present at these proceedings, which can give you greater peace of mind about the outcome.
3. It May Salvage Business Ties
Business disputes can dissolve partnerships and corporate connections that may be beneficial to you in the future. Using mediation to solve such matters can salvage these relationships and help each party to understand where miscommunication or misunderstanding might have taken place. While not all issues can be resolved in this way, using corporate mediation may help you preserve profitable business relationships and maintain your professional allies.
4. Mediation Can Satisfy Unhappy Customers
If a client is prepared to sue you or your company over an incident or product, business mediation may help resolve the problem and offer him or her a satisfactory outcome. A business attorney in Rockville, MD can attest that professional mediators have the ability to soothe riled tempers and help each party see the core of the issue. This can result in an outcome that makes the client happy and he or she may decide to forego litigation and remain a customer in the future.
Professional and corporation mediation has many advantages that can benefit you and your business. Ask your business attorney in Rockville, MD for more information about obtaining a mediator and how the process can help you protect your financial future.
Tips for Business Succession Planning
For business owners, succession planning for your business is critical. When starting your own business, setting up shop is likely to be at the forefront of your mind. However, it’s important to not just consider the process of getting started, but how your business will manage when you retire or in the event of the unexpected. Our Rockville, MD business attorney at The Law Office of David J. Wright knows that like, estate planning, business succession can be easy to want to put off for another day. No one wants to envision the unexpected or a time when they will have to pass their business on to loved ones. This is a primary reason to work with a business attorney trusted by Rockville, MD business owners. The Law Office of David J. Wright has you covered, and can support you in the process from start to finish. Our Rockville, MD business attorney wants you to have the following tips for when it comes to business succession planning:
Tip #1: Start Planning as Soon as Possible
It’s important that you start planning as soon as possible. The sooner you start the better off you, your business and successors will be. This can help to ensure a smooth transition.
Tip #2: Choose a Successor Who Has the Right Skills
Although you may have a particular person in mind to take control of your business, you will want to make sure that you choose someone responsible, with the right skills to successfully take over. Unfortunately our business attorney serving Rockville, MD has seen the consequences that occur when an incapable party is chosen to take over a business.
Tip #3: Be Clear with Family Members
Having conversations with family is essential for a number of reasons. You will want to make sure that you share your succession plans with your family so that they have a clear idea of what to expect. Additionally, being upfront with family gives them the opportunity to air any concerns they may have. This can help to mitigate the risk of problems down the road.
Legal Services You Can Rely On
Business succession planning can be confusing, complex and downright overwhelming. Because of this, you will need the premier legal services of The Law Office of David J. Wright, a Maryland business attorney providing legal services to the Rockville area. With our help, we can provide you with the peace of mind you deserve and keep your plan as clear, straightforward and manageable as possible. Our Rockville, Maryland business attorney is dedicated to providing you with help when it comes to business succession planning. We are committed to:
- Listening to our clients needs
- Assisting in drafting a business succession plan that is tailored to their needs
- Provide guidance and support in the development of the business succession plan
- Help in understanding business succession and its’ importance
As a business owner, business succession planning should be at the forefront of your mind. With so many decisions at hand you will want to work with the premier legal services that our Rockville, MD business attorney has to offer.
After you have worked so hard to build a successful business, one of the most important steps to take is developing a clear plan for business succession. The Law Office of David J. Wright can guide you with the support and assistance you need in protecting your legacy. Call our trusted Rockville, MD business attorney today to schedule an appointment today.
When a Dispute Arises
Throughout the course of our firm’s legal advocacy, we at The Law Office of David J. Wright, have handled a broad range of emotionally charged disputes. However, some of the most complicated conflicts arise between business partners. For many of these people, the relationship they have between them and their business partner is at the very core of how they view themselves; thus, the expectations they have regarding trust, loyalty, and communication is high. When these values, or expectations, crumble, the sense of betrayal can become overwhelming to a point that a serious legal battle ensues. If it is not properly dealt with, it might not only lead to the collapse of a relationship, but also the ending of a business.
If you are in a similar situation, now might be the time to consult a Rockville, MD business attorney for help. Call The Law Office of David J. Wright now.
Business Duties and Expectations
At a basic, founding level, of a business, each partner owes one another fiduciary duties. These may include diligence, loyalty, transparency, and being upfront about any business matters. If these basic duties are breached, turmoil can arise. As a Rockville, MD business attorney, we know of many different disputes that have included one of the following:
- One partner started or joined a company that competes with their current partnership
- One partner leaves the partnership, and solicits employees or clients to leave along with them
- Assets belonging to the partnership are used for personal reasons
- Money or assets are missing
- A partner no longer puts in enough, or any, effort
- A partner does not inform their partner about possible business problems
- Business decisions are made without discussing them
Additional problems that might arise, and are not necessarily related to a breach of duty, could include:
A partner gets married and starts a family. Now he or she no longer wants to put in the previously agreed to time in the business. The other partner must know take on the extra load, but without any extra compensation. This can lead to a resentful citation, and eventually conflict that could benefit from having a business attorney in Rockville, Maryland.
Each partner puts in a lot of effort; however, one becomes more successful (i.e. perhaps with their ideas or sales tactics); thereby, wants a larger share of the profits. If a situation like this arises, the business can unravel. A lawyer may be able to fix things before they get worse.
One partner would like to bring a third partner on board, but the other partner doesn’t agree with this. This scenario can be delicate to navigate because it could threaten financial aspects, as well as, the relationship between one another.
As leading business lawyers, we at The Law Office of David J. Wright, understand how a dispute can unfold. If not managed in time, and properly, it could be disastrous. Not only might the business be severely impacted, or fall, each partner, and their families could be affected. Through our experience, and our knowledge of the law, we can help you to understand what options may be available, including whether to mediate the dispute or mitigate it. Sometimes, a discussion with a Rockville, MD business attorney, and each partner, is all that is needed. On the other hand, tough decisions need to be made.
Let a business attorney in Rockville, Maryland help you to explore your options so that you can make a better decision on how best to handle the situation you are in.