Brooklyn Corporate Lawyer

In recent years, entrepreneurs in North Brooklyn have been driving economic recovery, cementing the borough’s reputation as a hub of growth and innovation. In fact, in 2022, the number of new business formations in parts of Brooklyn was up by 15% over 2019.

While many entrepreneurs are also founders, starting their own companies from scratch, many business owners also launch by means of mergers or acquisitions of existing businesses. Purchasing an existing business presents a set of unique risks and opportunities, and can be an extremely complex process. Entrepreneurs who are starting a new corporation, or owners who are purchasing a business, should consult with a Brooklyn corporate lawyer in order to mitigate risks and avoid some of the most common pitfalls of new business ventures.

Primary Types of Corporate Law

There are many areas of law that are typically practiced by corporate lawyers, and individual lawyers have their own experience and expertise. However, most corporate lawyers provide legal services related to the following principal areas. 

Mergers and Acquisitions

The process of helping businesses be bought or sold or merge with each other is complex and exciting. Naturally a corporate attorney is necessary to negotiate and create the necessary contracts, but lawyers also play an important role in due diligence, risk assessment, compliance, and other factors. Major assets like real estate or intellectual property also require special consideration during a merger.

Banking and Finance, Including Asset Financing

Most companies use bank loans and other forms of financing from time to time, especially when financing larger transactions. This type of financing is often necessary in order to obtain significant tangible assets, and should account for ongoing costs of maintenance and other liabilities. A corporate lawyer is needed to create and review these contracts, which can be complex and involve many different parties.

Fund Formation

Funds may be private equity, venture capital, or other types of funds, used to create and manage collective investments. Corporate lawyers who work in fund formation need to be familiar with relevant tax, corporate, and securities law, and be able to negotiate and prepare partnership and corporate agreements. Corporate lawyers can also advise on fund structure, fund management, fund exiting, and other important considerations.

Securities, Including Capital Markets

When companies raise funds by means other than through bank loans, it is usually through issuing securities. A corporate attorney working with securities helps to determine whether those securities must be registered, assess the tax implications of the transaction, negotiate the terms of the transaction, and report relevant transactions to the SEC. Likewise, when a company uses a fund to make investments or otherwise moves money within the market, a lawyer is needed for various compliance and reporting requirements.

Intellectual Property

Intellectual property law covers the registration, maintenance, and protection of a range of proprietary marks and technologies. It includes trademarks, patents, and copyrights of company assets, which may also be licensed to other companies. A corporate lawyer assists with the registration process of these assets and may also assist with protection and enforcement.

Restructuring and Bankruptcy

Managing debt and risking default can be a huge problem for both new and established businesses. In many cases, loans can be restructured and sold to mitigate financial risks, but these are highly complex transactions and require compliance with SEC and other regulations. A corporate lawyer can advise on various ways of restructuring and reducing debt, conduct complex negotiations, and manage compliance obligations.

International and Cross-Border Business

Even a small business in Brooklyn can easily find itself doing business internationally due to the ease of modern global commerce and the complexity of modern supply chains. A corporate lawyer eases the complexity of managing two or more tax and regulatory environments, multiple currencies, and other complexities of international business.

Every corporate attorney has their own expertise, with more experience in specific aspects of the wide range of legal areas that a business may encounter. As a rule, a corporate lawyer can give general advice and guidance in most areas of law that affect a business. However, your corporate lawyer can and should advise you to occasionally seek a specialist attorney for specific projects or challenges, like bankruptcy, environmental regulations, or certain types of litigation. Over time, most corporations develop a legal team with a range of skills and expertise tailored to their specific needs.

When Do You Need a Corporate Lawyer?

For starting and growing businesses, it can be difficult to tell when you may need the services of a corporate lawyer in New York or in Brooklyn specifically. There is a lot of legal information, along with templates and examples, available online that simplify many issues that founders face. Most new businesses are also concerned about cash flow and don’t want to spend money on professional services they don’t need. Generally speaking, an entrepreneur should consult with a corporate attorney when:

1. You are forming or acquiring a corporation. A corporate lawyer will take the time to truly understand your business needs and goals and can then advise you on relevant issues related to corporation type, structure, financing, etc. New corporations typically need professional assistance and guidance regarding important issues like shareholder and investor rights, the responsibility of board members, and the duties of executives and officers. A corporate lawyer is also necessary to assist with mergers and acquisitions, conducting due diligence, and negotiating relevant agreements.
2. You have intellectual property to protect. Every new business should take steps to trademark their brand and protect their reputation. Startups and tech firms need to be especially vigilant about registering their patents and protecting any proprietary tools and technologies. These registration processes can be complex and extremely time-consuming, and many times require the services of an attorney. Likewise, if you suspect infringement or improper use of your intellectual property, speak with a lawyer immediately.
3. You are doing business across borders. There are many modern tools and processes that simplify cross-border business, but it is always best to consult with a corporate attorney and make sure you understand any special risks or obligations that arise due to international trade. If regular importing and exporting is part of your business model, it is also a good idea to work with a lawyer in your destination country to avoid unforeseen compliance or regulatory issues.
4. When it makes fiscal sense. Finally, as your business grows, your investment in legal services may grow as well. At a certain point, it simply makes sense to hire a full-time in-house corporate lawyer rather than contract with an independent attorney for specific tasks or projects.

Consulting with a Brooklyn corporate lawyer early and often reduces your risk overall, as you have more opportunity to anticipate and mitigate various legal and compliance issues and challenges you may face. A good corporate lawyer solves problems before they start, ensuring that your business can grow and scale in line with your aspirations.

Let Us Empower Your Organization with Our Brooklyn Corporate Legal Services

Whether you require ongoing legal counsel or a consultation on a single issue, our corporate legal team can help. The Fridman Law Firm offers a wide range of legal services to entrepreneurs and business owners in Brooklyn, including help with business foundation, acquisition, or dissolution.

Choosing a law firm with experience in corporate legal matters and expertise in New York law and regulations is essential for your success, and our solutions-oriented team empowers your ambition. Contact us online today or call 212-262-9823 to find out how our business acumen, entrepreneurial know-how, and bespoke legal services can benefit your company.