When you are starting a company, there are several uncertainties you may have, and issues to address, and having a business attorney on call will help you prevent many future headaches.
Everyone wants to run their business efficiently, maximizing potential and profits in order to be successful. However, no matter how experienced a person is in the world of business, they can’t do it all alone. Instead, they delegate different responsibilities to different experts in order to ensure that everything gets done correctly and the business runs smoothly. That’s why when it comes to the legal side of things, it’s best to refer to a corporate lawyer to ensure things are done right. Having a seasoned business lawyer on your payroll will protect your company and provide you with the needed peace of mind as you pursue new business ventures, prepare your company for changes or adjustments, and just generally make sure that everything is above board and on the straight and narrow. Below are just some of the ways an attorney can assist you with running your business.
Drafting Business Contracts
Business attorneys should always review any contract written for your business for any purpose, whether they are between your company and employees, customers, or vendors. Lawyers know all the crucial clauses that will protect your business and its interests. A good lawyer will also consult with you on whether a contract is even necessary for a given situation.
Reviewing Leases and Real Estate Agreements
Unless you have a home-based business or office, you will need to find a commercial area, such as a storefront or warehouse, to get up and running.
That means that you will need to either rent or purchase real estate, and you can sure use a lawyer to review every lease or sales document that is part of the transaction.
Settling on a Proper Structure
It is critical to choose a suitable business structure upfront since you can find yourself in hot water later on if you don’t. Experienced attorneys know the consequences and benefits of each structure and will use your input to decide on which form is best for your company.
For example, owners of sole proprietorships and partnerships are left more open to personal liability than those who form LLCs or corporations. Setup costs and tax obligations also vary, and a good lawyer can ascertain which entity is best for your situation.
Protecting Intellectual Property
This can include anything your business owns that is considered proprietary. That list includes logos, trade secrets, inventions, original works, and product designs. Your company is distinctive and it must remain so to compete effectively in your market, so a corporate lawyer can help you protect what makes your business unique by filing for trademarks, copyrights, and patents to protect your interests.
A corporate lawyer can also help in the cases of copyright infringement, helping to navigate the difference of fair use and outright infringement. This way, in the case of stolen property, you can ensure the guilty party is brought to justice and your business is protected from any fallout or loss of profits thanks to the theft.
While you can’t completely eliminate the possibility of litigation, business attorneys can do everything in their power to ensure that your business is complying with all federal, state, and local laws to proactively protect your business from any lawsuits.
In conclusion, when you are starting a company, there are several uncertainties you may have, and issues to address, and having a business attorney on call will help you prevent many future headaches.