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Top Palos Park, IL Business Law Lawyers Near You

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Palos Park Business Law Information

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Lead Counsel Verified Attorneys In Palos Park

Lead Counsel independently verifies Business Law attorneys in Palos Park by conferring with Illinois bar associations and conducting annual reviews to confirm that an attorney practices in their advertised practice areas and possesses a valid bar license for the appropriate jurisdictions.

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Are you Involved with Business?

Business law, also referred to as commercial law, refers to the different laws that govern business entities in all types of commerce, including sales, trade and merchandising. Business entities can be any type of business from a sole proprietorship to a partnership or a corporation. Any entrepreneur wanting to start a business in Palos Park will end up knee deep in many types of business law decisions, which will require different sets of skills.

What Business Law Covers

Business owners are faced with countless business law situations, which can range from starting a business and choosing its legal structure to business finances and taxes. These decisions could make or break your financial future and the stability of your business. A business law firm will be able to guide you through these decisions.

The hiring and firing of employees also falls under business law as does forming the right business partnerships. Creating legally binding contracts is crucial to your business being successful. A business law firm can help you with these situations as well.

How do you start a business?

If you decide to start a business, you should be ready to do some careful planning. What will your goals be? What are your products? Who are your customers? How will you get the money you need to start? Will you have employees? How will you incorporate? A business and commercial law attorney can help you answer and work through all of these questions.

How do you write a business plan?

The U.S. Small Business Administration, along with state and local government agencies, all provide good advice on what to include in a business plan. It should include answers to the above questions and provide any information that you think any potential investors will want to know.

How do you get a business license?

Your state government will have information about any permits and licenses you will need for your business. In some lines of business, there will be other federal and local permits you need as well, such as a liquor license. A business and commercial attorney can help you address every detail in getting your business off the ground, helping you avoid any unnecessary errors that can cost you time and money.

Best Time to Seek Legal Help

No matter what your legal issue may be, it is always best to seek legal help early in the process. An attorney can help secure what is likely to be the best possible outcome for your situation and avoid both unnecessary complications or errors.

Tips on Approaching an Initial Attorney Consultation

  • Use the consultation as a means of gaining a better understanding of your legal situation.
  • Ask the attorney how many cases similar to yours he/she has handled. An attorney’s experience and knowledge can speak to their expertise (or lack of) in addressing your situation.
  • Your attorney should be able to articulate roughly how long a case like yours will take to resolve and what sort of procedures to expect.
  • Determine how comfortable you are working with the lawyer and/or law firm.

How will an attorney charge me?

A reputable attorney will be very upfront about how he/she will charge you. The three most common fee structures that attorneys use to charge for their services are:

  • Bill by the hour
  • Contingent fee agreement
  • Flat fee agreement

Depending on your specific legal situation, it’s possible that only one type of fee structure is available. For instance, criminal defense attorneys almost always bill by the hour. In a flat fee arrangement, an attorney accepts a one-time payment to help you resolve your issue. With a contingent fee agreement, the client pays little to nothing upfront and the attorney receives a percentage of the money recovered if you win your case.

Common legal terms explained

Pro se – This Latin term refers to representing yourself in court instead of hiring professional legal counsel. Pro se representation can occur in either criminal or civil cases.

Statute – Refers to a law created by a legislative body. For example, the laws enacted by Congress are statutes.

Subject matter jurisdiction – Requirement that a particular court have authority to hear the claim based on the specific type of issue brought to the court. For example, the U.S. Bankruptcy Court only has subject matter jurisdiction over bankruptcy filings, therefore it does not have the authority to render binding judgment over other types of cases, such as divorce.

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