Bismarck, North Dakota Commercial & Business Transactions Attorney
Owning and operating your own business comes with its own perks and challenges. We know that you work hard every day to deal with your employees, equipment, customers, and various other financial matters. Still, every now and then, you might come across a problem that’s too big for you to resolve on your own. Whether it’s because a new legal dispute is on the horizon or you just need professional advice on a corporate law matter, don’t hesitate to contact one of our experienced attorneys at Germolus Knoll & Leibel, LLP as soon as the need arises.
With over 60 years of combined legal experience, there is nothing our team of lawyers has not handled before. Our hardworking attorneys are well-versed in all areas of business law and will employ that knowledge to your maximum benefit. We can work closely with you from the initial conception of your business idea and we know how to best help you meet your short-term goals and make effective long-term plans.
Time is money—and your time is precious. That is why we are here: to help you make wise choices and ensure your business’s continued security, efficiency, and success, all while helping you avoid any potential pitfalls and disputes (both external and internal). We can help you protect your business interests both preemptively and after any allegations of wrongdoing.
Areas of Commercial & Business Transactions We Can Handle
Commercial & business law can cover a wide breadth of issues. We can help you no matter what stage your business is in; no problem is too big or too small. We can assist you with the following areas of commercial & business law and more:
Business Succession: A business succession plan is like a having a will or a trust in place for your business that it will be enacted when a person passes on or retires. A business succession plan dictates what is to happen to a person’s business, including terms of taxation, new ownership, new management procedures, and other related issues. When managing your business, an integrated approach is necessary when it comes to dealing with retirement and estate planning because you must also consider the eventual transfer of the business. Public and private companies have some key differences when it comes to successions, such as income tax, capital markets, and access to capital.
Contract Negotiations: Contracts are an absolutely crucial part of business operations. Sometimes, they can make or break a deal. That is why we are proactive in drafting and reviewing enforceable legal documents to protect our clients’ business interests. Such contracts can include partnership and shareholder agreements, buy-sell agreements, franchising agreements, and non-compete and intellectual property covenants. The attorneys at Germolus Knoll & Leibel, LLP can also help you with shareholder, partnership, and other corporate agreements.
Corporate Mediation & Arbitration: Generally speaking, mediation is a non-binding effort in which an impartial third-party attempts to help two or more parties resolve a dispute outside of court. If the mediator cannot lead the parties to a settlement, they may be able to proceed to court. However, no two mediation cases are exactly the same, and it is not uncommon for other conditions to apply. Arbitration is a similar process where a neutral party reviews the case and issues a decision to choose which side is right. Arbitration can be either binding or nonbinding. In cases of non-binding arbitration, a participating party can choose to take the case to litigation.
Debt Restructuring: Debt restructuring is an out-of-court negotiating process between a business and its creditors. During this process, the borrower and its creditors are able to reach agreements in order to realign the borrower’s debts. These are urgent financial matters that call for a confidential and speedy lawyer. We can represent you no matter what side of the negotiation you are on.
Establishing Corporations, Partnerships, LLP’s, LLLP’s, LLC’s and Limited Partnerships: There are many important things to think about before choosing a business form, such as your preference of tax treatment, how you intend to structure your management, the ways you intend to capitalize your business, whether or not you want to trade your business stock publicly, and various liability issues. Having a properly established business entity can shield you from personal liability for your various business debts and obligations. Consulting with a legal professional is the best way for you to choose which form you want your business to take.
Franchising: Many franchisers seek advice from a team of lawyers regularly. This is because they know that this could save them money in the long run. A good franchise lawyer can identify potential problems before they occur or, if allowed by the franchiser, even rewrite the franchise agreement in order to maximize your profits. A competent franchise attorney from Germolus Knoll & Leibel, LLP can ensure your success and protect you as you make big decisions.
Mergers & Acquisitions: An acquisition can come in three different forms: asset purchases, stock purchases, and mergers. A merger refers to two companies combining to form a single company under the issuance of a “merger certificate.” The surviving company in a merger, or the company that receives all the assets of the disappearing company, must then take on all pre-existing liabilities of the disappearing company. Because many different corporate constituencies are involved in such cases, several different areas of law apply to mergers & acquisition transactions.
Nonprofits: A nonprofit is an entity that has obtained a tax-exempt status and primarily serves the public interest. A nonprofit must also reinvest all its assets into the organization, give them to the public, or give them to another charity. Its tax exemption status is contingent upon it meeting the needs of the general public. Nonprofits are also formed under state law and are funded by donors without any ownership rights. However, nonprofits and LLCs enjoy the same type of liability protection. Because of the unique nature of nonprofits, it is important to acquire a lawyer who understands the ins and outs of your organization. Nonprofit organizations must meet their own requirements and complete their own specialized forms that traditional business attorneys may not be familiar with. The skilled lawyers at Germolus Knoll & Leibel, LLP can help your organization flourish.
Online Businesses: Online businesses are a growing part of today’s digital age. There are various rules and regulations you must meet when managing an online business that can consist of nearly anything, from protecting your customers’ privacy to ensuring that you collect the proper sales tax. We can assist you in various areas specific to online business, such as blogging, FTC compliance, proper e-commerce practices, state and federal internet marketing regulations, and more.
Promissory Notes: Generally speaking, a promissory note is a basic type of legal contract that sets out the terms of a loan. Promissory notes usually do not have very many formalities and thus are one of the simplest ways to obtain financing for your business. They are also known as commercial paper, demand notes, IOUs, loan agreements, notes, notes payable, promise to pay, and secured or unsecured notes. They include the names of the involved parties, the amount borrowed, the amount to be repaid, when and how the payments will be made, and other relevant information.
UCC Documentation: Uniform Commercial Code (UCC) is a type of filing regarding liens. It is a document or a group of documents which explain a lending institution’s interest in the debt and/or lien. These forms provide information about and the terms of the agreement of the debt and how it was created. UCC liens are a normal part of business financing. Certain assets may be pledged for a UCC lien. In any case, it is of the utmost importance to have an experienced commercial & business transactions attorney look over the documentation to ensure all information is valid.
Our strategy is specifically made to achieve your goals. We know that you cannot employ a one-size-fits-all approach to all matters of business. Every business—and every client—is unique. You can rest assured that all of the decisions will be made after careful consideration of your company, your concerns, your goals, and after making sure that all of your questions are answered.
Experienced Commercial & Business Transactions Attorney
Just like there is no problem too big or too small for us to help you with, we believe that no client is too big or too small to give our top priority to. Whether you are a small mom-and-pop business or a well-established corporation, we are committed to helping you achieve your vision. We can guide you through each stage of your business’ development and we are committed to your continued success.
We have experience with helping our clients form corporations, partnerships, limited liability companies, and business entities. In addition, we are also proficient in purchasing and selling existing businesses. We also understand what goes into partnership and stockholder purchases, sales, and buyouts. We are a people-oriented, results-oriented firm that is committed to giving you personalized, quality service in any situation that arises.
Your business is one of the most important things you have. Do what you can to protect it. When you choose the skilled and respected attorneys at Germolus Knoll & Leibel, LLP, you choose dedication and excellence. We provide you with personalized, quality service for all of your legal needs and we will do whatever we need to get you the results you want. Contact us today to schedule a consultation with a qualified member of our team of legal professionals.