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Every business, small or large, will encounter a time where they’ll need to consult a lawyer or attorney for a legal matter. Generally speaking, for many small businesses, the time to hire a legal expert comes when they’re faced with a legal issue. However, if your small business is waiting until this time to take on your legal responsibilities, it could be too late to come out on top. Hiring a lawyer or business attorney is essential for small and growing businesses, as one lawsuit can clean out the bank and threaten the life of your company. Being proactive when it comes to hiring a legal counsel for your small business is crucial to growth and survival.
Below, I’ve listed 3 very common instances that show why you should hire a legal team for your small business. From the harmless and common practices that occur in the early planning stages of your business to the more intense requirements, the right lawyer or business attorney can help to steer your company towards success.
Contracts are a core part of any business. Over the course of your time as owner, president, or CEO, you’ll sign a lot of them. These contracts didn’t just appear out of thin air – most likely a business attorney helped to craft them for the business. It’s important that you have a legal partner on your side not only to help write your contracts but also during the contract presentation process. The party on the other end of the contract may want to negotiate and if this happens, you’ll be able to consult with your legal team on the best language possible for your company.
If your business plans on hiring any employees, you’ll not only need contracts in order to legally hire and pay them and to ensure the employee follows the rules within your business, but you’ll need legal advice and rules for instances in which a dispute occurs. As a recent article explains, there are even certain questions you’re legally not allowed to ask during an interview. A lawyer can outline these rules before you begin your hiring process and you can avoid any potentially uncomfortable situation.
Penalty Protection
Of course, there are many instances in which a business can be sued. It goes without saying that legal representation and advice will be needed for those instances. However, there are more intricate instances in which needing legal representation will occur. You will need to understand the compliance needs of your community, other businesses you’ll work with, and of the work in which you are performing. If there’s suddenly an environmental or national issue that someone affects your business or that your business indirectly causes or interacts with, your business could be penalized even if it’s not part of the root issue. Your legal team can help to set you up for success before, during, and after this bump in the road occurs.
Although it is an extra expense that may seem unnecessary at the start of a small business, having a legal partner on your side can save you from headaches and fees in the long run. Think of it as a preventive care for your business – get healthy now to avoid getting sick later. In the chance that you or your business does become “ill,” your lawyer will know exactly what to do to get you back on your feet in no time.