Growing your Business Requires Legal Assistance
There are many options to grow your business: bring on a partner, buy another business, sell company shares, acquire investors, obtain a business loan, or hire more employees. Sometimes, it can be a combination of these events. With every event, consult a business attorney to make sure everything is in order with your business.
Assuming your business documents are already in order, when your business expands, these additional elements must be documented:
· If you bring on partners, you need to chronicle the new people, their responsibilities, voting percentages, and financial information.
· When you sell corporate shares, there must be a vote and documentation of the transfer.
· When your business obtains a loan, the bank will most assuredly want to see that all your corporate documents are up to date.
· Buying a business involves the correct purchase agreement.
· If you are hiring employees, you need to have the correct employment agreements, non-disclosures, and even an employee handbook in place.
The essential theme is that you must protect your business, and the only way to accomplish this is to put everything into an agreement. These events can be daunting; however, an attorney can assist and make the transition uncomplicated.
If your company plans any of these events, then feel free to reach out to me to make sure the process is straightforward. I will guide you through the process and make sure you and your business are fully protected.