Business Law: what are the basics, who needs to know, and how MyVirtual.Lawyer can help

What is business law?

Business law covers legal issues related to forming and running a business. It includes legal guidelines for starting a business, buying an existing business, managing an ongoing business, and closing or selling a business. Specifically this can include, but is not limited to, the following areas:

  • contract law
  • the law of corporations
  • securities
  • intellectual property
  • anti-trust
  • secure transactions
  • taxes
  • labor and employment
  • bankruptcy
  • trust & estate law, in some cases

Business Owners and Entrepreneurs need to know the basics of business law.

If you are thinking of starting a business or are already running one, you should understand a few things about business law. With a basic understanding of business law you can make informed decisions in your business and save yourself trouble in the long run. For example, owning a business property, or hiring employees comes with all sorts of business law issues that should be handled at the beginning of the process. Otherwise, you could find out about a major problem after it’s too late.

How MyVirtual.Lawyer can help

While we don’t cover all aspects of business law, we do feature some areas that can be very helpful for your small business. Here are the services we offer:

Business Formation

We can assist you with establishing your corporation, creating your LLC, and setting up your EIN. You can be assured that your business is set up properly for your situation and within legal parameters.


We can create contracts for your business, such as HIPAA releases, photo releases, employee or contractor contracts, and leases. Effective contracts protect you and your clients with proper permissions and terms of service and payment.

Operating Documents

We can draft operating documents, shareholder agreements, policies and procedures, or employee handbooks. This sets clear expectations for everyone involved in different aspects of your business. It also ensures that your documents back you up if things don’t go as planned.

Document Review and Feedback

If you have existing documents in place, we can review them for you and suggest changes that you might need. This service is for finished documents that don’t need a major edit, just a look-over to make sure everything is correct and up-to-date.

How you can use MyVirtual.Lawyer to your advantage

A la carte services

One of the advantages to using MyVirtual.Lawyer for your business law needs is that we offer all the services mentioned above with a la carte pricing. You may need a document reviewed and a contract written; instead of hiring a lawyer on a big retainer, you can simply work with us for those specific needs at a flat fee.

Business subscriptions

If your needs change month to month and you would like the security of having a more “on-call” relationship with us, look into our subscription plan. This service moves you closer to having an in-house legal consultant. For a monthly fee, we provide a business review up front, monthly check-ins, document review & feedback, legal advice, and a discount on any other a la carte services that you might need. A business subscription can be a great way for a small business to cover themselves legally while making the best use of their budget.