Understanding Business Law Cases In Nevada

Starting a business can be complicated in several ways. This article helps you on the legal front, discussing:

• Formation, contracts, dispute resolution, business growth, and succession planning,
• Why and when hiring a business law attorney can best help with business law cases in Nevada, and
• How you can proactively protect your business from litigation.

What Areas Of Business Law Can Your Firm Assist Me With?

Our comprehensive business attorney can assist you from the outset to the conclusion of your business venture. Our services include:

• Helping you create and structure your business.
• Drafting contracts.
• Resolving any legal disputes that arise during operations.
• Providing legal support as your business expands.

We can also help you secure alternative funding or loans, manage contracts, and handle selling your business when you want to divest it or pass it on to the next generation. If you experience setbacks or failure, we can guide you through the legal consequences and help with any transition plans.

At What Stage Of The Planning Process For Starting A Business Should I Seek A Skilled Business Law Attorney?

Having an attorney involved at every stage of starting a business is ideal. An attorney is an essential part of your team and integral to successfully navigating your business law case in Nevada. As soon as you deal with anyone who is not just a customer, such as a new partner, bank, creditor, or spouse, there is potential for conflict. As such, you should involve an attorney to ensure that rights and obligations are understood and respected. In addition, there are many potential pitfalls that an attorney can help you avoid or navigate.

What Entity Options Are Available When Forming A Business? How Can I Determine Which Is Best For My Situation?

The most common structures are LLCs, partnerships, and corporations. Choosing which to use for your business depends on several factors.

In general, a traditional partnership is not ideal for most people. For small businesses, the choice is usually between an LLC and an S corporation. Which exactly will largely be based on tax and estate planning situations. While an S corporation has some tax advantages over an LLC, somewhat rigid ownership restrictions exist, and those benefits are time-limited.

In general, an LLC is often the best choice, especially if you have a clear plan for growth, but the decision ultimately depends on the specific circumstances of the business and its partners. It is not a decision to make without consulting an attorney.

What Proactive Measures Should I Have In Place To Protect Myself From Potential Litigation Or Other Issues That Can Arise Surrounding My Business?

The first and most basic proactive measure you can take is to establish an appropriate entity, i.e., one of the business structures mentioned above. In addition, it is crucial to ensure that the documents governing the entity are meticulously drafted and specific to the needs of your business and partners.

However, simply establishing an entity alone will not protect against litigation. You must adhere to the entity’s formalities and guarantee that its documents precisely reflect your agreement with your partners; otherwise, you may face a lawsuit from your partners or a creditor. In such cases, having an LLC may actually become a liability rather than a benefit.

For more information on Business Law Cases In The State Of Nevada, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (702) 703-1540 today.