Business Planning Lawyer in Nashville
Contemplating opening a business? As an entrepreneur, you’re legally bound to comply with state regulations before making your first sale. The lawyers at Larry R. Williams, Attorneys at Law, can help you with all of your business planning needs.
Family business disputes can be the hardest kind to handle. Minimize your chances of a disagreement by drafting a comprehensive family business contract. We combine our expertise in the areas of business law, as well as estate and property law, to put together fair business agreements. In general, we suggest getting some basics in writing:
- A buy-sell arrangement that dictates what happens to the business in the event of a member’s death or disability.
- A prenuptial agreement that divides the business appropriately in the event of a divorce.
- A family business agreement that details the amount of liability each member has, i.e. a general partnership or limited partnership.
If you have two or more shareholders for your business, a legal agreement could prove to be one of your greatest assets. This document lays out what happens to your company in the event of a dispute between one or more parties. Use it as a guiding reference to settle any disagreements before they become protracted. An upfront investment in a shareholder agreement, drafted by an experienced attorney, can save you a significant amount of money in litigation fees in the event of a business dispute.
A non-compete clause protects your business from intellectual theft, among other things. Employers often require their employees to sign non-competition agreements before they begin their first day of work, and they take effect even after the employee has left the company. You may require a non-compete to protect your trade secrets or goodwill.
“Goodwill” implies that the company has worked to establish a positive relationship with customers or clients, and the employee agrees not to take advantage of that goodwill to recruit the client after they’ve left the company. Our offices can help you draft non-competition agreements that protect your legitimate business interests and that are supported by legal consideration.
Non- Disclosure Agreements
Non-disclosure agreements (NDAs) are intended to protect the original assets of your business enterprise. They’re similar to non-competition agreements but are specifically designed to protect trade secrets. For example, if you have a proprietary business formula for recruiting and retaining clientele, a non-disclosure agreement would forbid your employees from revealing this information to a third party.
Non-disclosure agreements are common in companies with intellectual property, like technology firms, but any enterprise can draft an NDA. These agreements can be mutual when both parties exchange secret information, or one-way, when only one member of a transaction reveals secret information.
Non-solicitation agreements serve as contracts when an employee agrees not to lobby your company’s customers for his or her own benefit (or the benefit of a competing entity). They can also prevent a former employee from recruiting other employees when he or she leaves the company. Non-solicitation agreements may be drafted as part of an employee contract, or it may be compiled as a standalone document. These agreements are particularly useful in the sales field to protect your customer pool, but they may be useful in any industry.
Are you ready to begin your business planning document? Contact one of the experts at Larry R. Williams, Attorneys at Law. Our legal team is equipped to handle any of your unique business needs. Let us help you protect your business assets by drafting your next agreement. Have further questions about our range of services? Get in touch with us today for a free initial consultation.