When you start a business, you hope that everything runs smoothly. Reality is rarely that kind, however. People make mistakes, issues arise, and you need advice from someone with legal expertise.
Retaining a lawyer can prove to be a valuable move for your business. It can help you protect your business from legal challenges. If you’re not sure why your business needs legal counsel, what follows are ideas that show you the different ways in which retaining a lawyer can help you.
A lawyer can help keep you from getting sued
When you hire a lawyer after you get sued, the lawyer can only help minimize possible damage. When you have a lawyer on retainer advising you on a regular basis, however, you can receive advice that helps you stay within the law and avoid getting sued. For instance, if you need to promote your business with an online contest, you may not realize that you need to register it with the government. A lawyer can advise you every step that you take with your business, and help you avoid penalties, lawsuits and other legal trouble.
A lawyer can help you choose the right kind of legal structure for your business
The legal structure that your business adopts: a partnership, sole proprietorship, corporation, limited liability company, etc., can help determine how you are liable to your investors, how you pay taxes and how you divide your profits. When you have a lawyer on board, you can receive advice on how to pick the right legal structure for your needs.
A lawyer can help you draft legally sound contracts
As a business, you’ll need to create contracts with your clients and suppliers all the time. You need a lawyer on board who can look into the legalities involved, and help you draft papers that protect you in the event of a complication. If you tried to draft your own contracts, you would likely miss important details that leave you open to lawsuits at some point.
A lawyer can help you with employee issues
Businesses tend to routinely face employee-related problems. Lawyers can help draw up airtight contracts for employment, deal with workers’ compensation, create agreements for freelance workers, and handle situations where employees need to be fired. When you have an attorney on retainer, you’re likely to turn to them every time you need legal advice, and lower your exposure to lawsuits.
Whether you’re trying to launch a new business or manage a business that’s already in existence, it can be tempting to try to do as much as you can by yourself. It’s important to resist the temptation, however. From tax obligations to liabilities and employee-related issues the legal intricacies of doing business can simply be too much for someone without a legal background. Keeping a lawyer on retainer can be a great business move.
• Labor Law
• Sexual Harassment Lawsuits
• Succession Planning
• Workers’ Compensation
The Chamber Coalition in New York is a not-for-profit corporation incorporated under New York State Law. We do not provide actual legal advice, but only general advice without any liability. In most cases it is necessary to contact a U.S. lawyer. The Legal Department of the Chamber Coalition advises companies in various aspects of business through our partner, The Law Firm of Figeroux & Associates. We would be happy to get to know you through a non-committal conversation. For a FREE Case evaluation, click here.
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