When a business comes into existence, it is bound to face different challenges, which may be harder initially. It gets easier to deal with these obstacles over time, but you will need all the support you can get to pull through. That’s where we at Hecht Schondorf come in; to be the structure, you need to succeed through it all.
There are four significant types of business in a legal entity; the options include partnership, Corporation, Limited liability company (LLC), and sole proprietorship. Under these four, all other businesses operate, such as joint ventures and professional corporations.
Our attorneys have years of experience in corporate law’s financial and business areas. We will help you navigate through it all with guidance. You will need to consider a legal strategy when choosing to do business under any of the types mentioned above.
What is a legal strategy?
A legal strategy means how a business plans to use the law in implementing its business goals and model. They get formulated after sorting your business model and testing it out in the real world. As your supporting firm, we make sure your legal strategy is customized to suit your business objectives. That’s because we understand that different businesses require specific needs. So, you can expect tailored services and none of the copy and paste rule. For your legal strategy to work successfully, we explore a few aspects of your business.
An excellent legal strategy should go along the lines of your business activities. We explore the inner working of your business and what you do as a business entity. This includes the smallest of actions to the ones you consider significant. They are all combined in our findings to decide your business activities.
When the business activities have become successfully broken down, you pinpoint its resources. We refer to your business model to give insights into how the business plans to handle its resources. With this information, we can identify your resources, resources factors, and ways to address legal issues that concern it.
By now, we are sure you know who your stakeholders are, as they are the parties you deal with when running a business. In addition, stakeholders are classified as external and internal, and different legal strategies are used to handle both.
Employees fall under internal stakeholders, and we make all the proper documents drawn to favor both parties. Customers and the government authorities fall under external stakeholders; disclosing information that affects them is crucial. This will help the business avoid lawsuits based on misleading claims.
A business legal strategy document
After all the information about the operational areas of the business is known, we can draw up a legal strategy document. But you will need to contact us to determine what your business requires.
In summary, we keep your legal strategy updated at your request by yearly evaluating your business activities, which will remove unwanted information and processes, to help your business avoid legal issues.