Business Law
From the day you start your business to the day you hand it off, your legal foundation shapes everything in between.
Business law covers the legal work that keeps a company running — how it’s formed, what its contracts say, whether it meets regulatory requirements, and what happens if it’s sold, passed down, or wound up. Most legal problems in business are cheaper to prevent than to fix: a clear operating agreement, a well-drafted contract, or a compliance check now can prevent a dispute or penalty later. Fairchild & Dalrymple works with businesses across Central Virginia — from new ventures to established companies — at every one of these stages.
Schedule a ConsultationFour parts of business law
Business Formation
How you structure your business — LLC, corporation, partnership, or sole proprietorship — determines your personal liability, your tax treatment, and how decisions get made among owners. The wrong structure, or one without a clear ownership agreement, can create problems years later that a document written at formation would have prevented. The right choice depends on how many owners you have, how you plan to raise money, and how you want control divided.
Read more about Business FormationCommercial Agreements
Every business runs on agreements — with vendors, suppliers, partners, and customers — and a contract is only as good as its enforceability when something goes wrong. Vague terms, missing provisions, and unclear obligations are the most common reasons commercial agreements fail to protect the business that signed them. Whether an agreement holds up depends on what’s actually written into it, not what everyone assumed at the time.
Read more about Commercial AgreementsRegulatory Compliance
Businesses operate under licensing requirements and industry-specific regulations that vary by what the business does and where it operates — and falling out of compliance can mean fines, license suspension, or personal liability for owners. Staying compliant isn’t a one-time task; requirements change as a business grows or as laws are updated. Which rules apply to your business depends entirely on your industry and structure.
Read more about Regulatory ComplianceBusiness Continuity
What happens to a business when an owner exits, retires, becomes incapacitated, or dies depends on whether a continuity plan exists before that moment arrives. Without one, ownership can stall, co-owners can be left without authority to act, or the business can be forced into a sale no one wanted. A continuity plan — built through buy-sell agreements and clear succession terms — keeps the business running regardless of what happens to any one owner.
Read more about Business ContinuityBoth sides of the practice
Fairchild & Dalrymple brings together courtroom experience and corporate law background under one roof, giving business clients both transactional and dispute-resolution support without needing a second firm. Our attorneys work directly with owners at the partner level, from first-time entity formation through complex succession planning. We built our own firm from the ground up, so we understand the practical realities business owners face — not just the legal theory behind them.
Frequently asked questions
Do I need a lawyer to start a business in Virginia?
It’s not legally required, but the structure and agreements you put in place at formation are difficult and expensive to fix later. A short consultation at the outset often prevents costly disputes among owners down the road.
What’s the difference between an LLC and a corporation?
An LLC generally offers simpler management and pass-through taxation, while a corporation offers a more formal structure that can be preferable for raising outside investment. The right choice depends on your goals, number of owners, and plans for growth.
How do I know if my business is following the right regulations?
Requirements vary by industry, location, and business activity — what applies to a contractor differs from what applies to a retailer or a professional practice. A review of your specific business is the only reliable way to know what applies to you.
What happens to my business if I can’t run it anymore?
Without a continuity plan, the answer depends on your business structure and any existing agreements — and the outcome is often worse than owners expect. A buy-sell agreement or succession plan puts you in control of that answer in advance.