What is Business Law?

Business law, sometimes called commercial or corporate law, provides the structure through which businesses are run. It oversees the activities of a company through a body of rules, regulations, and principles. When creating and running a business, if the legal processes are not properly followed, the business owner or their business could face consequences in the future. If you are unaware of the legal aspects of owning a business, hiring an experienced business law attorney could benefit you. 

Business law attorneys usually do not represent businesses in court — their main goal is to help businesses avoid litigation. Instead, business law attorneys educate and advise on employment law, taxes, sales, partnerships, intellectual property, bankruptcy, preparing and negotiating contracts, and more. However, in this post, we will focus on debt collection.

Debt Collection

Collecting debts from customers or other businesses can be difficult and frustrating. Law firms specializing in business law and collection services help business owners recover debts from their customers or other companies. You may consider hiring an attorney if the amount owed to your business is over $5,000 or if the debtor is a large company.

The collection procedure will first include sending a demand letter threatening litigation to the debtor. If the debtor is not responding, the next step is to try to reach a settlement with the debtor. If there is still no success, it is time to initiate legal proceedings, which usually involve filing a lawsuit to obtain a judgment in court. 

At Rucker, Rucker and Aymett, we want to see more businesses flourish in our community. If your business requires business law services, please contact us at (615) 893-1134 or fill out the form on our website.