Starting a business is one of the best steps that you can take to achieve financial freedom. Most people who start businesses are majorly risk takers who are looking to reap huge returns should their respective ventures become successful. This risky nature of entrepreneurship implies that you must be cautious to minimize risks. Some of these risks are legal issues and can only be handled by qualified legal practitioners. Accordingly, it makes a lot of sense to hire the best business attorney who can handle your legal issues effectively.
When it comes to business attorneys, there are many options to choose from. For instance, you can go for a transactional or litigation attorney. To this end, you are probably lost on the difference between the two types of attorneys. Well, before you opt for any litigation support near me service, here is what you need to know about the two categories of attorneys:
Transactional attorneys
These are attorneys who are responsible for day-to-day stuff that relates to your business, including:
• Advising you on company formation structure
• Drafting and reviewing of your business contracts
• Advising you on labor related issues
• Dealing with legal issues related to everyday operations of your business (excluding going to court)
• Helping you manage regulatory affairs related to federal and state authorities such as zoning laws, licensing etc
• Overseeing business merges, sale, and acquisition of the company
Litigation Attorneys
These are attorneys who can represent your interests in court of law, whether you are the person who is instigating the lawsuit against a third party or if you are the one facing a lawsuit. One of the reasons why litigation support near me prefer dealing with litigation exclusively is due to how expensive and time consuming the process can be. Before a litigation case goes to court, it may go through several stages—from the negotiation stage, mediation stage, all the way to litigation stage proper. The litigation stage itself has up to 5 stages. Put simply, it is easy to see how an attorney’s time is taken up when handling a litigation case.
Bottom-line
Any business that operates long enough will definitely be engaged in a lawsuit and consequently need one type of a lawyer or both. Hopefully, the above brief guide has shed some light on the type of attorney that you need at any given time. However, it is worth noting that while you will often find attorneys who prefer to focus on litigation or transactions exclusively, some attorneys can be litigation and a transactional attorney at the same time.
