Running a business usually involves a lot of complexities and transactions. If the transactions aren't done correctly, the business owner could find themself in a legal tangle. If you own a company, it is best to have an attorney on board to help with the various transactions that take place within the business. Here are three types of business transaction services offered by attorneys.
Licensing and Franchising Agreements
These terms are used when a company has granted permission to another business owner to use their name, logo, or likeness. The agreement may also give the licensee rights to sell goods under certain conditions. Franchisors often require franchisees to pay continuing royalties once an initial licensing fee is paid upfront. Licensing agreements can be for merchandise sold in stores with no need for additional inventory management by the licensor beyond receiving payment from the licensees. Alternatively, licenses can grant limited distribution of products through exclusive distributorships that prohibit any other parties from selling related items.
A business transaction attorney can help draft these agreements to protect the licensor's interests. The legal documents used in these agreements are complex and need the services of an attorney with extensive experience before being executed by both parties.
Finance and Lending Transactions
Lending transactions may include secured and unsecured loans and interest-only loans. Business owners need someone in their corner who is knowledgeable in this specific area of law to protect their rights and responsibilities. These lawyers understand the different types of financing options available. They can be very helpful in ensuring that you get the most advantageous terms possible when entering into negotiations or signing documents.
If problems arise, they can assist you with an out-of-court resolution or by filing suit against the other if necessary. Moreover, if you want to file for bankruptcy, the attorney can help you to negotiate an out-of-court agreement or represent you in court. This will ensure that you receive fair treatment and repayment terms.
Commercial Leases
A commercial lease is an agreement between a tenant and landlord involving real estate. It outlines the rights, responsibilities, rules for the use of land or space, terms of payment, length of time involved in each rental period, and procedures to follow if the contract needs to be terminated early by either party.
A transaction attorney representing you can negotiate with your business partner or landlord on important issues. Some of them include breaking your lease without paying extra fees or penalties and owning improvements made during a tenancy. In addition, the lawyer will protect your interests by representing you in court if the landlord tries to evict you or asks for more rent.
Business transaction law services can be very complicated and confusing. With the assistance of an experienced business transaction attorney, you will gain a sense of security, knowing that your case is in good hands and will get the desired outcome.
Share24 September 2021
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