North Myrtle Beach Business Law Attorney

North Myrtle Beach Business Law Lawyer

Business law is a small name for a vast area of law. It encompasses the starting of businesses, the endless category of business contracts, and the selling, merging, and dissolving of businesses, all carried out in accordance with South Carolina statutes.

Axelrod & Associates, P.A., is an established law firm serving North Myrtle Beach, SC, and surrounding areas. With more than 100 years of collective experience among our firm’s attorneys, we are well-prepared to assist clients in the many areas of SC business law, whether it be business acquisition, business litigation, or any other business law case.

How a Business Creation Attorney Can Help With Starting a New Business

Anyone who has successfully started their own business can attest to the complicated legal processes that must take place before the business can begin operating. It’s an exciting time, but there is work that must be done. The first step is to determine what entity is right for your business, whether it be a:

• Sole proprietorship
• Limited liability corporation (LLC)
• Partnership (general or limited)
• Corporation
• Small business corporation (S-Corp)

This is an important decision that shouldn’t be made hastily. An experienced business law attorney can be the most important resource you have when establishing a business because, chances are, you won’t think of everything an attorney will, which could leave your business at risk in the future. Furthermore, having an attorney draft and file the state-required paperwork with the South Carolina secretary of state will leave you with more time to focus on other business-related matters that go along with business creation and startup.

Registering Your Business

You may also need assistance with a search of the South Carolina Secretary of State’s archives to determine if your preferred business name is available for use or if someone else has already registered a business under the name. In case it’s not available, you’ll need to have some backup options handy to facilitate the search process. Once you have a valid, available name for your business, you will need an official Certificate of Existence, which is only available via the South Carolina Secretary of State’s Office. The fee for this is nominal, so you do not need to pay a third party to file for this certificate. However, if you do need help, any reputable lawyer can assist you with these types of tasks.

Documents and Forms

Once a business is established, new business owners find that they need employee forms, agreements for doing business with customers, vendor contracts, or one of hundreds of other potential policies, conditional documents, and legally binding forms necessary for day-to-day operations. A smart business owner knows that these types of business documents must be airtight, with no room for misinterpretation or misuse. Thus, having a lawyer on hand to review documents related to business transactions, and other business operations, is an investment in the longevity of a company and its reputation.

Business Acquisitions

If you’re considering buying into a business or selling yours in North Myrtle Beach, SC, a business acquisitions attorney can serve your interests by assisting in the sale or acquisition of the business. Before the sale, an attorney can perform due diligence to:

• Ensure that everything goes smoothly on closing day.
• Negotiate the terms of the sale.
• Draft the documents and contracts necessary to close the deal.
• Assist with the transfer of intellectual property rights.

They can also help with any other aspects of business acquisition law. Most importantly, an attorney is necessary to close the deal, and you are the most protected when your representing attorney is present.

Once you buy a business from another owner, you must ensure that every aspect of the business is legitimate and that you understand any potential legal implications the business could incur. This entails reviewing all contracts, agreements, terms, conditions, policies, leases, contracts with vendors, franchisees, employees, and organizational documents. You’ll also need to adhere to the statutory laws of certain company entities, such as:

• Annual meetings
• How to document these meetings
• The rules regarding the board of directors, if applicable.

FAQs

Q: Why Is Attorney-Client Privilege Important to an Entrepreneur?

A: While only legal advice given by an attorney to an entrepreneur is protected by the attorney-client privilege, a business attorney should be trustworthy due to the sensitive nature of the business processes, products, and operations. Entrepreneurs must be able to trust their attorneys to protect their products and trade secrets, which business lawyers may be privy to while working with them.

Q: Why Are Lawyers Important for Small Businesses?

A: A corporate attorney can be a valuable resource for a small business. Having an experienced attorney to call when needed can be useful in many capacities for small businesses, including:

• Helping with drafting contracts
• Ensuring tax compliance
• Recovering debt
• Hiring and firing employees
• Resolving disputes
• Registering trademarks and patents
• Representing their client in business litigation

Q: Why Do Entrepreneurs Need a Lawyer?

A: For entrepreneurs, having a reliable and readily available attorney with whom you have established a relationship can be a useful tool. Instead of viewing the expense of an attorney as an extraneous indulgence in a business’ operating budget, entrepreneurs should think of their lawyer as a guide that can save them money and protect their business and good name in the long run. An attorney can also save them time, stress, and the headache of dealing with legal issues that arise.

Q: Do I Need a Lawyer to Form an LLC in South Carolina?

For a business corporation, you’ll need an attorney to sign the articles of incorporation. The attorney must be licensed to practice law in the state of South Carolina. Otherwise, an attorney isn’t necessary to create a new business but can significantly help ease the process and serve your business throughout your initial opening, first year of operations, and thereafter for the lifetime of your business.

Got Axelrod?

If you’re starting a new business in North Myrtle Beach, SC, entering into negotiations to buy or sell a business in South Carolina, or are already an established business owner, we would like the opportunity to sit down and discuss your legal needs as a business owner and offer our services if you need them. Contact Axelrod & Associates, P.A., and speak to one of our qualified business attorneys to schedule a consultation today.