Learning about The Duties of an SBA Lawyer
The role in promoting the growth of small businesses all over the country is contributed by the Small Business Administration. A lawyer can get involved in business matter in some scenarios. Drawing up contracts, assisting in incorporation process and representing you in case of litigation are some of the ways that a lawyer can help you. There are some legal business issues that you cannot handle without an attorney, but there are others that you can opt to handle independently.
Every business is unique and it is important to consult with a lawyer to determine the complexity of the needs of your business and how to continue on most of these issues. A lawyer is needed in the more complex issues of business. It is a complex process to form a corporation which has shareholders and a board and hence it will need legal help from an attorney. A corporate lawyer, in administrative matters of tax and legal requirements will come in handy. A patent attorney will assist you in the evaluation of your product and understand what rights you will achieve in case of filing a patent.
Consideration should first be put on whether by patenting your products will give you a big market advantage. In solving these issues legally, you will need a lawyer in case of litigation. Discrimination lawsuits, harassment lawsuits, lawsuits by former or current employees and customers, environmental lawsuits and government investigations for legal violations may be included in litigation. Negotiations of lease and sales agreements can be helped by lawyers when you want to buy or sell businesses.
Existence of most businesses would not be if it were not for SBA loans because they operate most of them. The main loan programs that are offered by SBA are 504 loans and 7(a) loans. Large projects and assets are managed by SBA 504 loans. Purchasing real estates for commercial purpose, acquire and develop property, purchase equipment and start, expand or improve businesses are some of the activities that can be used by the money given. Stock purchasing, working capital and payment of debts may not be done using SBA 504 loans. Because SBA 7(a) loans are not collateralized easily; in case they are defaulted the guarantor comes into play more prominently.
Some attorneys are skilled at negotiating and settling SBA loans by understanding the process and options available. A lawyer negotiated SBA loan settlement can help you settle a debt without becoming bankrupt. Though not easy, negotiating large reductions in 504 and 7(a) loans is possible. By going through the process, a lawyer who is skilled and who has experience can help you get financial recovery.