What Does a Transactional Lawyer Do?
Transactional lawyers help individuals, business owners, and organizations with legal issues that develop as a result of their business dealings. A transactional attorney works with government agencies, nonprofit and for-profit organizations. So, what does a business transactional lawyer do for their clients?
What does a transactional lawyer do?
A transactional lawyer representing an organization may help the business owner:
- Form a business entity, such as a Limited Liability Company (LLCs), Corporation, Partnership, or Sole Proprietorship;
- Prepare partnership, stockholder, or operating agreements;
- Provide advice on compliance and commercial matters, general governance, and other legal issues;
- Draft business policies;
- Draft and negotiate contracts;
- By serving as general counsel on legal matters, which may include real estate, intellectual property, licensing, and more.
Should I hire a transactional lawyer to assist with my business?
In short, yes. Too often, business owners rely on lawyers to “get them out of trouble,” however, the most successful business teams include legal advisors on the front end.
An attorney will help business owners avoid risk, as investing in legal assistance before drafting contracts saves you time and money. An attorney protects business owners from the legal consequences of bad contracts. Laws continually change and business owners need legal advice to understand those changes.
Why not use online legal documents?
Any internet search will reveal an array of inexpensive online legal documents, but using them could cost business owners money down the road. It’s rare a blanket document or form covers everything that an individual business needs. Such documents may fail to adequacy protect you, and/or may even include legal language that is burdensome or not needed that may create pitfalls in the future. It’s best to invest in documents that are tailor made for your company’s legal needs.
If you are in need of a transactional attorney for your business, please call the business attorneys at O’Reilly Rancilio P.C. at 586-726-1000 or visit our website.