Business Lawyer Rockville MD
Common Laws to Know if You Own a Business
Helpful Information from a Business Lawyer Rockville MD Turns to for Answers
As a business lawyer Rockville MD clients trust can explain, there are various legal implications that need to be understood when you plan on running a business. Business law requires that you put regulations in place to promote the successful function of your business regarding: bankruptcy, taxes, employment, sales, and operations. At the Law Office of Daniel J. Wright, we have more than 35 years of experience helping business owners with their legal matters.
A business lawyer Rockville MD CEOs call knows that you must abide by all business laws that apply to your enterprise.Hiring a Rockville MD business lawyer can help you become aware of these laws and avoid any legal troubles that could occur if you were unaware. The following is a short list of common laws that apply to most businesses, but be sure to familiarize yourself with laws that apply to your particular business and your region.
1. Privacy laws afford and protect confidentiality of customers by securing private information that the business might collect through their security plans.
2. A company’s claims must be honest and truthful according to marketing and advertising law. Their marketing strategies must abide by “truth in advertising.”
3. An employer is required under employment and labor law to provide fair working standards for their employees. Fair minimum wages, overtime rules and wages, policies against child labor, and management of employee records are all included.
4. Ideas, designs, trademarks, and patents your business has developed are protected under intellectual property law. This prevents theft from competing enterprises using them as their own to profit from. Your business law attorney will ensure that you complete all the necessary paperwork to secure your ideas.
5. Finance law obviously refers to all financial aspects of your business’s affairs. Should you run into a situation where you must file for bankruptcy, finance laws protect your investors, customers, and you, the business owner.
6. Similar to employment and labor law, workplace safety and health law protects employees from an unsafe and hazardous work environment. This is vital in ensuring the success of your business.
7. The prevalence of internet marketplace usage as led to online business law which regulates business transactions online between a company and customer. A knowledgeable business lawyer Rockville MD business owners depend on can attest to the impact of online profit and can explain the differences that distinguish online business law.
Business and Corporate Law
As the owner or senior officer of a company, you may require the services of a business lawyer Rockville Maryland professionals rely on for quality legal representation. The Law Office of Daniel J. Wright serves clients in the following areas:
- Litigation of contract, business, personal liability, construction, pension, and securities disputes.
- Partner and stockholder relations.
- Legal advice for startup structure, corporate formation, intellectual property, and employment.
- Recapitalization and growth concerns.
- Best practices matters.
- Documentation and negotiation of business or commercial financing.
- Formation of non-compete agreements, employment agreements, and separation agreements.
- Formation of sales agreements, acquisitions, licenses, and leases.
When necessary, Daniel J. Wright is a business lawyer in Rockville MD who may represent yourself or company in courtroom litigation proceedings. Owing to Daniel J. Wright’s ability to successfully negotiate agreements and disputes, settlements are often possible and preferred over lawsuits. He is a business lawyer Rockville MD firms appreciate for his cost-conscious approach to solving disputes and other legal issues. In addition to having been a member of the Maryland State Bar Association for more than 20 years, and the District of Columbia Bar for more than 35 years, he holds admission to the following courts:
- Supreme Court of the united States (more than 30 years)
- United States District Courts for Maryland and District of Columbia (more than 35 years)
- United States Court of Appeals for the Fourth Circuit and the District of Columbia
As a long term and successful business lawyer Rockville MD company owners rely on, Daniel J. Wright’s wealth of experience can be of tremendous benefit to his clients. In addition to being able to resolve issues, he advises clients on how best to avoid them, saving tremendous angst and costs into the future. The Law Office of Daniel J. Wright intentionally keeps our caseload manageable so that we can best serve the needs of the business community. In this way we provide high-quality legal services and focus that each of our clients deserves.
Let a Business Lawyer Rockville MD Locals Recommend Help
Whether or business is new or established, a corporation, enterprise company, or a boutique firm, Daniel J. Wright has the experience, knowledge, and dedication to help protect your interests.
This area of the law is complicated and may be confusing to navigate on your own at times. Many laws apply to the function of businesses and it could be overwhelming to decide how to abide if you aren’t a business law attorney. However, you must abide regardless of accidental breach.
Hire a business lawyer in Rockville MD to be sure you are complying with the necessary laws and avoid fines and jail time by taking their knowledgeable advice. Daniel J. Wright combines his passion for the law with a firm belief in fighting hard for his clients at every stage of every case. Protect your assets, your company and your long-term financial and business interests. Contact the Law Office of Daniel J. Wright for any business or civil matter. If you are looking to start a business or have questions about keeping up to code, call a business lawyer Rockville MD provides at 301-655-8130 for a free consultation.
What is a Breach of Contract?
A “breach of contract” is a legal term used to describe the violation of a written or verbal contract between two parties in which one or the other violates the agreement or does not fulfill their promise. A contract may be breached partially or in its entirety. A business lawyer in Rockville MD from the Law Office of Daniel J. Wright has represented plaintiffs as well as defendants in contract disputes.
For a breach of contract case to qualify for a lawsuit, it needs to meet the following requirements:
- The contract or written agreement must be valid, meaning that it needs to contain every essential contract element in order to be heard by a court.
- The plaintiff must be able to prove that the defendant breached the contract.
- The plaintiff has done everything required of them stated in the contract.
- The plaintiff party must have notified the guilty party of their breach before pursuing a claim against the defendant. A business lawyer in Rockville MD may advise that you notify the party in writing.
Types of Contract Breaches
There are three main kinds of contract breaches. Some individuals knowingly breach the contract they entered into with another party while others may be unaware that they have done so.
1. A material breach of contract is a breach that is substantial enough to excuse a party from following through on their part of the agreement or contract. When you hire a business lawyer in Rockville MD from the Law Office of Daniel J. Wright we can establish how the other party’s breach has cost you financially and in other ways as applicable. We will hold them accountable for your losses and seek monetary compensation on your behalf.
2. A partial breach of contract is not as significant as a material breach, but it does not excuse the plaintiff from fulfilling their duties. We can seek a fair settlement from that party.
3. An anticipatory breach of contract is when a party breaches the contract by acting, or failing to act on something agreed upon in the contract. Talk to us at the Law Office of Daniel J. Wright if this describes your situation.
As an experienced business lawyer in Rockville MD, we know that a company’s success lies in its understanding of the basics of business law. At The Law Offices of Daniel J. Wright, we are dedicated to helping business owners traverse the often complicate legal regulations by which they must abide.
Compliance with the many regulations that face businesses today is imperative to its survival and avoidance of legal consequences. Both your state and country will have its own rules regarding the operation of your business. The following are general overviews of common laws that affect businesses today.
Online Businesses: Internet businesses now have a strong corner of the market and profit extremely well; and while they are free from many of the functional corporate constraints, they do not have complete freedom from regulations. As a business lawyer in Rockville MD can explain, there are actually many in place, and as the industry grows, the law is trying to keep up with it.
Advertising and Marketing Services/Firms: Marketing and advertising services are the key to any successful business. As an experienced business lawyer in Rockville MD, we understand the many rules about making false claims in advertising and now the law demands they be truthful.
Intellectual Property: A business’s intellectual property is perhaps the facet of the business you need to protect the most. If you neglect to do so, your company’s name, symbols, and other information are at risk to be stolen or copied. A good way to protect it is filing for a trademark to make sure no one can take credit for your intellectual property. You can get the appropriate paperwork from a business lawyer in Rockville MD.
Employment and Labor Regulations: Employees run the business effectively by doing all the necessary daily functions to run and maintain the workplace. Labor laws exist to protect those employees and ensure that employees are treated legally and fairly. Different requirements that factor into labor law include:
- Following child labor laws
- Paying minimum wage
- Keeping in touch with Human Resources
- Rules maintaining extra payment for overtime.
Maintaining Workplace Safety and Health: Safety should be top priority in the workplace and it is an employer’s job to comply with regulations put in place to make your company safe for everyone around. There can be consequences for injuries on the job, most companies are required to prepare for that by purchasing workers compensation insurance which is mandated in some states.
Business Succession Planning
Developing a business succession plan is necessary to avoid any confusion or disputes once the time comes to personally step down from leading the company.
Here’s a checklist to use when putting together a business succession. The right business lawyers in Rockville, MD can assist you in developing this document and also help resolve conflicts that may arise because of the information in the business succession plan.
- Establish the objectives and goals of developing a business succession plan
- Is there a need for the plan?
- List the goals, objectives, and visions of the business
- How important is the involvement of family members in the ownership and leadership of the company?
- What are your personal financial needs and retirement goals?
- What are the goals of your family members?
- Would the use of an outside facilitator be necessary?
- Put together a professional group to work for you and your company, including a lawyer, CPA, financial advisor, banker, and insurance provider
- Who is authorized to make business decisions?
- Allow family members to have a voice in making decisions
- Develop a means for resolving disputes
- The succession plan needs to be in writing
- Inform family members of the contents of the succession plan
- Who are your successors?
- Identify all your successors, including business owners and company managers
- List roles for all family members, including active and non-active positions
- Detail all training that is required for the successor(s)
- Offer to provide all the training necessary to the successor to make sure the business continues to succeed
- Is there a role for the owner that is retiring? If so, detail the duties of that role
- Offer to support and counsel the successors
- Planning your estate
- Discuss tax implications to the business/owner after the transfer or sale of ownership
- Are there enough funds in your estate to pay the estate taxes?
- Will family members not active in the business receive any equitable share of assets?
- How will you transfer the business?
- Will the business be purchased or gifted/bequest, or both
- Understand and discuss the tax implications and strategies
- Understand any legal implications
- Update any business agreements and business structure
- Plan for contingencies
- Identify areas that could be potential problems
- Address how to resolve disputes or conflicts
- Is there a plan in place in the event you become unable to function as the business leader?
- Determine the value of the business by obtaining an appraisal
- What is your exit strategy?
- How will you transfer the business
- Is there a timeline in place for implementing the succession plan?
- Keep everyone involved in the communication loop
- Maintain all legal documents
- Wills and trusts
- Powers of attorney
- Tax returns, financial statements, and records for the past five years
- Contact information for all professional advisors
All of the above information might seem overwhelming, especially if you don’t understand the laws. It is recommended that you speak with business lawyers in Rockville, MD about the entire procedure. By consulting a business lawyer Rockville, MD business owners have been turning to for decades, you can feel peace of mind in knowing all of the details have been considered.
As some of the best business lawyers in Rockville, MD, we can assist you in developing a strong succession plan for your business that offers peace of mind to you knowing your business will continue to prosper after you pass the reins to other family members. Contact the Law Office Of Daniel J. Wright today to learn more.
Contact a Business Lawyer Rockville MD Trusts
If you have incurred or suffered what you consider a breach of contract and it meets all of the qualifications listed above, consider a business lawyer in Rockville MD from the Law Office of Daniel J. Wright today. The initial consultation with Daniel J. Wright is free. If you have been sued for breach of contract or are being threatened to be sued for breach of contract, it is all the more important that you contact a knowledgeable attorney from our office. If you believe the other party breached a contract with you, you have legal recourse. Daniel J. Wright will make every effort to fight for your rights and achieve a positive result despite the difficulty of your legal situation. Call us today to make an appointment with a business lawyer you can trust to protect your best interests.
“I am so grateful for his advice and listening to me , He didn’t have to because I didn’t hire him yet(not sure if i have to but if I do but I will). Thank you for everything”