Don’t allow thoughts such as “this looks easy, I can most likely do it myself” to creep in.
If you own a business or are planning on starting one, having a business lawyer by your side can be one of your most powerful tools. No matter what type of business you have, the economic turmoil you might be facing, or the phase your business is in now, a business lawyer can help you through many of your business’ stages. From the first day of your business to the day you decide to sell, go public, or close its doors, here is a short list of items your business attorney can help you with.
Starting Your Business
Whether you are planning to be a single proprietorship, a partnership, an LLC, or an S Corp, your business lawyer can explain to you the advantages of each business type and prepare the necessary legal documents accordingly.
If you are planning on hiring employees, or have dealings with suppliers and customers, you will need different contracts and forms for each of them. Your business lawyer will prepare these documents according to your business’s unique needs.
If a client fails to pay, a supplier does not deliver the merchandise as agreed, or contracts are breached in any way, your lawyer will negotiate on your behalf and, if necessary, will file a lawsuit to protect your rights.
Compliance and Risk Management
No matter if your business is brand new or has a long trajectory, an experienced business attorney can advise you on issues related to compliance as well as help you develop systems designed to minimize and monitor risk.
Mergers and Acquisitions
You may be thinking about buying out a competitor, or maybe a larger company has made an offer to buy your business, or you and a competitor are having negotiations to merge. In any of these situations, you don’t want to miss an important issue because you had no knowledge of the law. Your business attorney will advise you and guide you through the process.
Other Business Issues and Claims
No business is immune from problems related to their employees such as sick leave, sexual harassment, discrimination, worker’s compensation, and workplace safety. Your business lawyer will help you establish procedures and best practices, as well as represent you when the need arises.
Disputes over Real Estate
You may own the real estate on which your business stands or you may be renting the property, in any case, your business attorney will help you with sales and leases of property. They will guide you through the maze of the complex and confusing tenant and real estate laws.
Your Consultation with a Business Attorney
The importance of establishing a relationship with a business attorney is clear. As a business owner, you have to understand that even what seems like a simple or trivial mistake could end up costing you a great deal of money. Working with a business lawyer will prevent you from any missteps.
Don’t allow thoughts such as “this looks easy, I can most likely do it myself” to creep in. A safer bet is that you actually do not know the intricacies of business law and, if you care about the wellbeing and growth of your business, you will consult with a business lawyer instead of trying to resolve a legal situation on your own.