As a new small business owner, there are many reasons why legal counsel is important. The following are five reasons why you should have a business lawyer on retainer.
1. Start Up Concerns
One of the first tasks to do when starting up a new business is to meet with a business lawyer. They can help make sure you meet all legal requirements when setting up initial contracts. A lawyer can also help with your business organization set up, whether you opt for a simple sole proprietorship or a more in depth corporation. Further, they can provide you with legal advice as you navigate office rental agreements and other important paperwork.
2. Trademarks or Patents
If you will be trademarking or patenting anything as part of your business, whether it is a process or a product, consulting with a lawyer is vital. First and foremost, it's important to make sure the paperwork is filled out correctly in order to ensure it is accepted in an expedited manner. Further, your lawyer can provide advice on the entire trademark or patent process so that you can avoid some common missteps.
3. Buying, Selling, and Expanding
If you will be buying or merging with another business, selling off part of your operations, or simply expanding current operations, take the time to meet with a business lawyer first so they can help you navigate the process. Not only will the lawyer make sure you fill out the contracts correctly, they can help advise you so you avoid future legal troubles or issues that could result in profit losses.
4. Document Creation
As a business owner, you will likely need to create binding documents. For example, you may need to provide employment contracts or account contracts. Your lawyer can help draw up contracts that are legally binding and meet the restrictions of local laws. Run any document by your lawyer before putting it into regular use so you can make sure that the document meets legal requirements.
5. Litigation and Lawsuits
It's an unfortunate truth that sometimes your business may end up in a lawsuit. Sometimes it is a client, employee, or contractor suing you, while in other instances you may have to bring legal proceedings against someone. Having a business lawyer on retainer ensures that you can get the best advice right from the outset, which can help minimize the cost and stress of litigation or a lawsuit.
Contact a business lawyer service for more help with your small business's legal needs.
Share19 November 2020
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