Raleigh Business Law Case Illustration
Casey is the owner of a successful veterinary practice in North Carolina. She began working with her Raleigh business lawyer ten years ago when she formed her practice, working with her attorney to incorporate her business, select the most effective tax and business structure for her practice, and craft all necessary contracts and agreements to protect her practice. Since then, she has sought guidance from her lawyer to create a succession plan for her business and implement new asset protection strategies to safeguard her practice. In the decade that Casey has been working with her legal counsel, she has grown her business tremendously and enjoyed consistent revenue growth every year.
Raleigh Business Lawyer
Protecting the Interests of Companies and Business Owners in Raleigh, Cary, and the Triangle
When it comes to running your business, there are a lot of decisions to make and boxes to tick. Gaining a comprehensive understanding of business and corporate law seems pretty low on your list of priorities, but it is a wide legal area that covers a wide range of concerns- all of which are essential to your business. This is why it’s necessary to find a Raleigh Business Lawyer to guide you. From company formation to mergers and acquisitions to exit strategy and the dissolution of business entities, this is a niche that can impact every area of your business.
Here at NC Planning, we make it our business to help yours, and our skilled team can assist you with your legal needs, helping you to run a smooth and efficient business. We have worked with companies across the Raleigh, Cary, the Triangle, and North Carolina areas, and offer a host of reliable, professional information and advice which can take the strain from your shoulders.
Business Lawyers + Professional Practices
Opening a professional practice is a unique venture, requiring a different set of strategies to establish and grow a successful business. As a licensed professional in the state of North Carolina, you have options regarding how you structure your business and expand your operations. According to Chapter 55B of the Professional Corporation Act, the following are considered professional, state licensed services in North Carolina:
- Public accountants
- Medical doctors
- Registered nurses
- Marriage & family therapists, professional counselors, and psychologists
- Occupational therapists, speech and language pathologists, and audiologists
- Certified and clinical social workers
- Engineers and land surveyors
- Foresters and soil scientists
If you are licensed in one of these professions, you are able to establish a professional practice for your services. To fully establish your practice, it is necessary to incorporate your business in the state. In North Carolina, under § 55B-4 of the Professional Corporation Act, a professional corporation of any kind can be formed if the following requirements are met:
- At least one person involved in the incorporation of the business holds a state license
- Certification from a North Carolina licensing board has been obtained, stating that your business complies with all necessary licensing requirements
- Articles of Organization have been filed with the North Carolina Secretary of State
Many choose to form a professional limited liability company (PLLC), which affords the business owner certain legal protections that many professionals find advantageous. For example, a PLLC will personally protect you from the following:
- Debts owed solely by the business
- Liability for the malpractice of other members of the business
- Injuries that occur with no direct connection to your practice; for instance, if a person slips and falls on the premises of your business
You are able to be held accountable for personal malpractice or negligence, as well as any business loans that you personally incur to pay for the establishment of your practice. When creating a practice, it is essential to understand the implications of each type of business structure and the legal requirements that accompany your professional practice. Our team of Raleigh business lawyers at NC Planning can provide more detailed guidance regarding the formation, expansion, or sale of your practice.
What Areas Are Covered By Business Law?
Business law covers a wide variety of areas, and these include:
Business Entity Formation: When you are just starting out, forming and growing a company can be a challenge. Our team can offer advice and solutions to help your business grow and develop before your very eyes.
On-Going General Counsel Services: Most businesses have the same types of legal needs as a large corporation, just on a different scale. Under our Complete Corporate Counsel platform, the legal team at NC Planning can serve as your company’s on-going outside general counsel. Through reoccurring prescheduled meetings and calls and an open line of communication, you can think of us as an extension of your team; your business’ outside legal department serving you on a fractional basis and at a fraction of the cost.
Acquisition and Sale of Existing Businesses and Professional Practices: From negotiating terms, preparing and executing the letter of intent or term sheet, through due diligence and drafting transnational documents, our dedicated and experienced legal team is with you every step of the way driving your merger and business acquisition matter to a successful closing.
Dental, Medical, and Other Professional Practice Representation: Owning and operating a dental practice, medical practice or other professional practice presents its own set of unique challenges and concerns. For instance, when planning to open a dental practice, buy a dental practice or sell a dental practice, it is important to have a business lawyer who is experienced in dental law. The team at NC Planning regularly represents dentists, doctors and other professionals in navigating these waters from professional entity set-up, to operating a professional practice, to buying or selling a professional practice, we are a professional team well seasoned and well suited to help you succeed in your professional practice endeavors.
Contract Negotiation and Drafting: The details are critically important when it comes to contracts, and this is an area in which you cannot afford to cut any corners. Ensuring that you have reliable, trustworthy legal advice on your side is a key tool in drafting effective contracts, and NC Planning can bring a wealth of experience to the table.
We can also help in the event of a contract dispute; a situation that can cause a major headache for business owners. By ensuring that your contract is well-drafted, you will find yourself in a strong position when it comes to handling disputes and arguments – and we can help you to navigate to a resolution.
Taxation: Managing taxes is a key element of running a successful business, and there is a range of options available to help you make this process as efficient and cost-effective as possible. Our experience will help you to make the best decision for your business, allowing you to thoughtfully plan and implement the appropriate tax minimization strategies.
Corporate Compliance: Making sure that your business is in compliance with federal, state and local laws is a critical piece to maintaining your company’s limited liability shield and all-around legitimacy. Our experienced legal team can help to counsel and advise on the steps you need to take to make sure that your company stays on the right side of the law when it comes to corporate filings and on-going operations.
Employment Issues: While many obstacles you will encounter with your employees will fall under the category of employment law, there are still issues you may face where having an experienced business legal eye can be invaluable. We can offer a different perspective, and this can be useful when you are hiring and onboarding new employees or resolving problems and trying to reach a solution with past or present employees.
Shareholder Disputes and Alternative Dispute Resolution: Ownership disagreements and disputes happen, but there is always a solution and a pathway toward resolution. That is where the team at NC Planning comes in. Our experienced legal team can help to guide you through each step of the process to resolve a business owner dispute, negotiate and implement a solution–often times before the matter reaches litigation and at a fraction of the cost. Whether it is an informal corporate workout or a more formal pre-litigation mediation, our team will work with you to explore the options and develop and implement a strategy to achieve your objectives.
Succession Planning, Exit Strategy, and Business Sales: Many business owners wrestle with adequately understanding the value of their company and the options available to plan for a successful transition and exit. This is an area that really allows the planning side of the business and corporate planning to shine. Taking the time and having the right legal counsel to understand how a business can transition from one owner or group of owners to the next can provide invaluable peace of mind and true economic benefit and value. Whether you are considering an equity restructuring, an internal successor, or want to explore selling your company to a third party through a stock sale or an asset sale, the team at NC Planning can successfully guide you through the process.
Dissolution Of Business Entities: When the time comes to wrap up a business entity, it is imperative that you ensure everything is signed off and packed up legally, and this can be a long and complex process. We can eliminate the stress, and take over the nightmare of extracting yourself from a business which is no longer serving your purposes. By making sure we dot every ‘i’ and cross every ‘t’, we leave you free to move on to your next business challenge.
How to Choose the Right Business Attorney for Your Practice
Selecting a business attorney for your practice is an important decision that will impact the success and future growth of your company. The right business attorney will act as a trusted advisor and adept negotiator, ensuring that your interests are upheld in every deal and that legal risks are effectively mitigated during business transactions.
First, it is essential to determine why you need a business attorney. Are you in the process of establishing your practice and require legal assistance with the process? Do you need a legal advisor to negotiate contract agreements on behalf of your company? Are you seeking and on-going general counsel relationship who can be there to support and counsel you as the business owner through the course of your company’s activities and needs? Your unique needs and goals will directly motivate your decision regarding legal counsel.
Once you have identified your goals, consider the specific attorney’s experience and breadth of knowledge. Do they have experience working with professionals in your industry? Does their approach align with your company’s culture? Feeling comfortable with your Raleigh business lawyer and comfortable with their abilities is a foundational aspect of your decision.
How Can We Help?
Here at NC Planning, we have been assisting clients across the Raleigh, Cary, the Triangle, and North Carolina religion with a huge range of business needs, queries, and concerns. Our team of experienced business attorneys can offer quality advice and assistance, eliminating any mystery, and allowing you to move forward with confidence. Get in touch today, and see how we can help boost your business.