Every business needs a lawyer, however, a lot of small enterprises simply can’t afford to have a legal expert on a retainer. This is a rookie mistake, one that usually comes around to haunt one for years to come. You see, having a proper legal expert on your side is a high priority and the best way to prove this point is to list several important reasons why your business needs a good lawyer. Here are five of them.
1. Lawsuit protection
By the time the lawsuit comes to life, the time to act might have already passed. A good lawyer can help you avoid this by negotiating and settling on your behalf. They also have an advisory role and can suggest techniques that provide a great amount of legal insulation. There are various methods that you can use to do this, ranging from getting insurance, saving the LLC and getting adequate insurance. All of this is something that a skilled lawyer will be able to pull off quite effortlessly. Needless to say, it’s always better to be proactive than reactive.
2. Drafting a contract
The number of situations in which a small business may need to draft/sign a contract is virtually endless. This is where a lawyer can help you out. If the contract is ambiguous, the court favors the party that has not drafted, which is why you need the contract to be ironclad. If you’re signing the contract, you need someone to check its validity, warn you of any dangers and check out the fine print for you. All of this can be done by a skilled lawyer.
3. Commercial disputes
Commercial disputes are a more common occurrence, nowadays, than you may have expected them to be, which is why you might need to find reliable business lawyers to represent you. Most common such disputes are those in which supplier is not delivering goods, customer not paying an invoice, an invoice being incorrect or a dispute coming from a sale of a business. Naturally, a business partnership dispute is just as common and all of this is best dealt with by a professional.
4. Employee issue
A lot of times, the situation with your employee might be one step away from a disaster and, in this particular scenario, you need a legal expert to help insulate you from potential trouble. The very term wrongful termination is something that brings a lot of panic to employers all over the globe, yet, how can you tell between an unjust accusation and a real professional issue. Workplace safety is another issue that you’ll encounter on a daily basis. These two things alone would be a reason enough for you to consider having a lawyer on a retainer.
5. Protection of intellectual property (IP)
Lastly, every business out there has a lot of intellectual property (trademarks, copyrights and patents), all of which need to be legally protected by your enterprise. It’s not just about taking the necessary steps for you to earn the right to call the IP your own, it’s also about knowing the adequate mechanisms to protect your IP in a case of an emergency. In the digital business world, such instances are surprisingly common and you need to take necessary steps of precaution to prepare for them.
As you can see, a legal expert is an essential member of your team. In fact, when you consider all the pitfalls of doing business without a lawyer on your side, it would be safe to assume that going into business without any legal protection is outright irresponsible. Fortunately, nowadays it’s quite easy to find reliable legal aid and you should embark on this quest as soon as possible.