Frequently Asked Questions 

The following information includes frequently asked business law questions. The answers stated are general in nature and are not intended to apply to every situation. Each case is different and carries its own set of circumstances which must be taken into consideration by competent legal counsel. For more information about your specific case, please contact Attorney Brian Finander at  602-263-4777.

Should I hire a business law attorney?
It's obvious that you should hire a business attorney if you’re being investigated for violation of Federal or State(AZ) regulations or a customer is severely injured by one of your products or on your premises. There are also a lot of not-so-obvious reasons to retain a business law attorney.

For example, are you planning on forming a corporation or partnership? A business law attorney can avert a lot of legal issues that can arise with forming these types of businesses and can advise you on the best business formation for your needs. A business law attorney can also help research any possible intellectual property issues and issues relating to hiring employees, tax issues and other legal matters that can arise with forming and running a business. 

 What do business law lawyers do?
Business law encompasses rules, statutes, codes and regulations that are established which govern commercial relationships and provide a legal framework within which business law attorneys may help you conduct and manage your business.

Business law attorneys help you with every aspect of highly diverse business law including areas such as: banking and finance law, business formation and organization, business negotiations, business planning, transactional business law, acquisitions, mergers, divestiture and sale of businesses and business litigation, as well as environmental, intellectual property, labor and civil law areas. 

 What are some of the most common types of business organizations?
The most common types of business organizations include: 

• Sole Proprietorship - you are the only owner of the business.
• Partnership - which can take the form of a general partnership, limited partnership or limited liability partnership.
• Corporation - the default form of a corporation is a C Corporation (also known as Subchapter C Corporation). Smaller corporations typically file for the S Corporation (Subchapter S) tax election so they are not double taxed.
• Limited Liability Company (LLC) - a hybrid formation that provides personal liability protection similar to a corporation, with the flexibility and tax advantages of a single proprietorship or partnership.

What is business litigation?
Business litigation involves business people representing a variety of industries on local, state and federal levels in matters pertaining to such diverse areas as:

• Business Torts: including commercial defamation; trade dress, patent or trademark infringement (including Lanham Act suits); interference with contractual or economic relations; breach of fiduciary duty; fraud and misrepresentation; unfair and deceptive trade practices and other conduct or claims that affect the success of a business.
• Contracts: such as a service contract with a primary vendor, an output contract with a key supplier, a sales contract with an important customer or any other kind of written or oral agreement.
• Professional Malpractice: accountants, architects, engineers, doctors and lawyers all face the risk of malpractice claims that can jeopardize business, reputation and finances.
• International Business issues, especially in Europe, Canada or Australia.
  
• Shareholder and Corporate Governance: shareholder inspection rights, duties of directors and officers, conflicts of interest, derivative actions, business judgment rule defenses, change of control provisions, dissent and appraisal proceedings, involuntary and judicial dissolution, minority shareholder rights and claims and valuation of closely held corporations.
• Telecommunications: technical and industry-specific issues, including issues arising out of the Telecommunications Act of 1996.

Many of my business transactions do not justify significant legal expense or are in an environment in which formal contracts would turn off the other side. How do I protect myself in these situations? 
An  attorney should provide clients with various types of documentation responsive to the environment within which the client is operating. When a client has repetitive types of activities, the attorney should develop a form contract that the client can use for subsequent similar situations so that the cost of the contract can be amortized over a number of transactions. In situations where formal contracts are inappropriate, the attorney should work with the client to develop simplified plain English letter agreements that are enforceable but not intimidating. In each case, the approach must be to recognize the business framework within which the contract is being developed and to provide a contract which matches that framework and is still as enforceable as possible for the benefit of the client.