Puerto Rico Business Lawyers
Commercial law includes all aspects of business, including marketing, transactions, collections, and business organization. Specific ordinances and legal principles unique to Puerto Rico govern the application of law to businesses. In Puerto Rico, Commercial law is complex, and it includes principles that are very different from those that apply to individuals.
The Law of Transactions in Puerto Rico
In daily operating activities, a typical business buys and sells often. Some of these transactions are bound to pose problems. Contracts in Puerto Rico often require legal action to enforce, whether the contracts are formed with consumers or other businesses. It is best to plan beforehand through contracts and purchase agreements. But for these documents to be of legal effect, they must be drafted according to Puerto Rico law. Federal and Puerto Rico law also include provisions that apply to investing activities and securities exchanges conducted by corporations. These laws become important once business begins investing in the capital markets.
Business Organization and the Law
Puerto Rico law outlines the options a business has in determining its structure and organization. Businesses organized as corporations have many advantages, but the company must follow Puerto Rico law in order to incorporate. Considering the options carefully will ensure that the business is not exposed to tax liability that it could have otherwise avoided. It can be difficult to choose the right business structure. An attorney specialized in Puerto Rico business law can give specialized advice for your individual situation.
Interesting Facts About Puerto Rico
The Commonwealth of Puerto Rico is a territory of the United States, located in the northeastern Caribbean. The islands were ceded to the United States in 1898, as an outcome of the Treaty of Paris. Although Puerto Rico is not a U.S. state, U.S. federal laws apply to Puerto Rican citizens, who were declared U.S. citizens in 1917.
Puerto Rico has a republican form of government similar to that of the U.S. with its three branches. Its capitol is located in San Juan, and is home to the Legislative Assembly. Puerto Rican law is a hybrid system of common law (similar to U.S. case law) and civil law (statutes created by legislature). Thus, lawyers in Puerto Rico must study and examine these two overlapping systems when assisting clients.
Puerto Rico's court system is composed of the Supreme Court of Puerto Rico, a Court of Appeals, and the Court of First Instance. Selected fundamental rights from the U.S. Constitution apply to Puerto Rican citizens. U.S. Supreme Court cases have commented on which other specific rights apply to the territory. For example, residents of Puerto Rico generally do not have the right to vote in U.S. presidential elections
Lawyers in Puerto Rico assist clients by providing a wide range of legal services. Puerto Rico lawyers are available to assist with legal issues that can be very unique to the area. Attorneys in Puerto Rico are also available for representation in court during lawsuits and other types of legal claims.