If you are among the many Americans that own their own businesses, you may be looking to expand it, as the economic situation has improved significantly over the past seven years. However, just as when you were just starting out with your new business, there are legal considerations associated with growing it.
Is your company's framework adequate?
When you started out, you dealt with the legal aspects of business formation such as bylaws, articles of incorporation, partnership agreements and other legal documentation. For businesses that are just getting off the ground, the liability protections and business framework contained within these documents are essential to begin the process of growing.
However, as your business grows, you may be considering acquiring another business, buying out a partner or increasing your protection against liability. If this is the case, it is important to ensure that your business formation documents are adequate for your ambitions. It is therefore important to have a business law attorney review your company's documents and make recommendations on any changes that are needed.