Rogers, AR Small Business Attorney
Operating a small business can be a complex but rewarding experience. Small business owners must contend with a variety of problems to ensure their business operates as smoothly and successfully as possible. However, it is natural to run into legal issues that may require the use of an experienced attorney. If you require assistance handling a business issue, you should consult with a Rogers small business attorney.
At Gunn Kieklak Dennis, LLP, our legal team is prepared to offer your business the legal representation that you need to complement your company. Organizing and operating a business is time-consuming for any person, and our firm is here to help you streamline that process. To schedule a confidential consultation to discuss your situation, contact Gunn Kieklak Dennis, LLP at (479) 439-9840, or contact us online.
Common Legal Issues for Small Business Owners
If you are a small business owner, you likely have encountered and resolved a number of issues that have troubled your business. However, some issues may require you to consider litigation or other forms of legal action in order to protect your business. For example, protecting your products from copyright infringement is one problem that could require extensive legal knowledge.
Our firm can help you manage several legal issues that can seriously affect your business.
Building relationships and executing contracts are likely the most important part of operating a successful business. That is why when a contract dispute occurs; a business owner should attempt to resolve it as quickly as possible.
A contract dispute can occur for a number of reasons. For example, if you contracted with another company to provide you with goods needed for your business, you may have to deal with a breach of contract issue if the company fails to meet the order. Breach of contract incidents can potentially cause a business to lose thousands of dollars if they cannot procure the items or services they need after the breach.
Another common contract issue is determining whether two parties have executed a valid contract. There are a number of requirements that must be met for a contract to be considered valid:
- All parties are capable of entering into a contract
- The purpose of the contract is unambiguously stated
- There is legal consideration for the contract
- All parties to the contract have agreed to the terms of the contract and have signed the contract
In some cases, it may be possible to have a valid oral contract between parties. However, oral contracts can be difficult to prove as parties may dispute which terms were actually a part of the contract. As a result, it is safer for all parties to a contract to ensure there is a written document detailing all terms of the agreement.
Many individuals start a business with a colleague or a close friend. When starting a business with a colleague or friend, the partners may overlook important details that could become an issue during the life of the business.
One important part of starting a partnership is drafting an operating agreement that outlines each partner’s role in the business. When disputes arise between business partners, the partners should be able to refer to the operating agreement to help them handle the problem. For example, if two partners cannot agree on whether to purchase a property to use for their business, the operating agreement may help determine the best approach to this problem.
However, if an operating agreement does not exist, and the business owners cannot agree on a certain issue, it may be necessary to pursue legal action to resolve the problem.
Another common partnership dispute is the breach of a fiduciary duty by a partner. Generally, a fiduciary duty for a business owner is a duty to act in the best interests of a business. If a partner places their own interest above that of the business, they will have breached their fiduciary duty to the company.
Intellectual Property Infringement
Intellectual property is the original ideas and works that an individual or company can protect by way of registering their work or invention. There are multiple forms of intellectual property protections like trademarks, copyrights, and patents. Each of these forms of intellectual property is used to protect different types of original works. For example, a trademark can protect a slogan a company may use in the marketing of their business.
The creators of intellectual property will be entitled to some protections without registering their work. However, the registration of intellectual property will make it easier to pursue a legal claim against a person or company that infringes upon your intellectual property.
There are many other legal issues not listed here that several business owners face every day. Our firm is prepared to help you with a wide range of problems that may affect your business.
Contact Our Trusted Rogers Small Business Lawyers Today
If you need legal assistance to resolve a business issue, contact an experienced Arkansas small business lawyer today. The business lawyers at Gunn Kieklak Dennis, LLP possess decades of combined legal experience that we would be honored to utilize for the benefit of the small business owners in our community. To schedule a confidential legal consultation, contact Gunn Kieklak Dennis, LLP at (479) 439-9840.