Matthew Kenney

Small Business | Workplace Law

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Small Business Law

Small business is not simply the science of business, applying smaller numbers. Rather, small business has a culture distinct from corporate or public sector cultures.

Consider these common small business legal issues: drafting bylaws; choosing the best legal structure; ensuring contracts benefit all parties; creating employee policies that promote adherence to the law; complying with franchise-related laws; raising capital in accordance with state and SEC rules etc.

When drafting bylaws, for example, a  small business lawyer would ensure his/her clients could exit the business, without penalty, if circumstances change. Similarly, the choice of a firm’s legal structure would be influenced by the presence of investors, and how much control (if any) the client wants to share. This is an important discussion, because scholars have proven entrepreneurs have a higher need for control than the general population.

Stated simply, an expert in both entrepreneurship and business law provides valuable insight because he/she has been in the entrepreneur’s position. This is especially true when clients own a family business, since family business dynamics are easier to understand once experienced.

What is Business Law?

Business law (or transactional law) is a broad legal area. In simplest terms, business law involves the legality of business creation and administration.

Common areas of business law include: compliance with state and federal regulations, contract/lease creation and evaluation, business formation, franchising, and non-profit business compliance.

Generally, business lawyers deal with issues outside a courtroom. Indeed, business lawyers try to ensure clients never see a courtroom. Issues requiring litigation are normally handled by trial attorneys.

Business lawyers often serve as counselors-at-law, providing clients with referrals to specialists best suited to serve the client's unique needs.

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