Starting a small business requires an entrepreneur to make many important legal and financial decisions that will impact the course of the business for years to come. According to the Small Business Administration, approximately 50% of Americans are involved in a small business, which amounts to around 30 million businesses. Before a person joins these numbers, he or she would be wise to consider what business and commercial law guidance is necessary to lay the groundwork for long-term success.
Small business owners in Oregon are smart to take steps to protect their legal and financial interests as much as possible. One way to do this is by drafting strong contracts with employees. For some types of companies, it can be beneficial to include nondisclosure terms or have separate NDAs for workers. Business owners may want to speak with an attorney experienced in business and commercial law regarding these important matters.
Pay inequity is not a new issue, and many have been fighting for equal pay for decades. For example, it is common for a woman to earn 20 cents less than a man in the same position doing the same work. Lawmakers in Oregon recently passed a comprehensive employment law that holds employers accountable when they use race, gender or other protected classes as an excuse to pay unfair wages.
Many Oregon business owners may be considering making a change in the New Year. Whether they plan to retire, move on to new ventures or let go of a struggling company, they have decided to sell their business. Selling a business is not as easy as it sounds, and those facing this decision may have many questions and concerns about how to make the transaction a profitable and positive experience.
Shareholder disputes occur often in publicly-traded corporations, including in Oregon. There are a myriad of issues that can cause shareholder concern and a number of different ways in which shareholders may register their concerns. One way to do this is to raise shareholder concerns at the annual meeting. When such disputes become known, the company's attorneys are mobilized to monitor the situation and follow through if it may turn into an actionable business law dispute.
Mergers and acquisitions in Oregon and elsewhere can be financially complicated. Sometimes, the purchase price for acquiring another company is paid partly or totally in shares of stock of the purchasing company. Such transactions may contain risk but generally a team of business law attorneys and financial experts calculate the elements and benefits of the transaction very carefully in advance.
Oregon has many businesses that deal in some aspect of food manufacturing and/or processing. A lot of activity in business law involves the purchase and sale of businesses in the food growing and processing industries. An established food manufacturer may desire to add a certain specialty line of products to its brand or it may need to increase its production values by acquiring a business that can engage in a manufacturing procedure not yet available to the buyer.
When selling a business in Oregon and elsewhere, there are three steps to take in getting the business ready to sell. The first step in such a business law transaction is to get an appraisal. The appraiser uses recognized valuation methods to put a sale value on the business. This includes the elusive but important value of the good will of the business.
In Oregon as well as elsewhere, an outside law firm is sometimes called upon to assist a company in a crisis situation. These are usually unexpected chains of events that require the company to make some important decisions about how to respond and how to handle the problem. Business law attorneys may be critical in some circumstances in helping the company to start off on the right track and stay there.
Oregon has its fair share of commercial law transactions that contain an international aspect. Many companies that are worldwide leaders in their industry purchase a segment of another company to enhance a division of the purchaser's operations. In some business & commercial law transactions, the larger company may purchase the total assets of a smaller company. Such purchases are made to diversify the larger company's product line or to add elements to an operational division that are thought to be necessary to increase production and/or sales.