Hiring a lawyer is an essential part of building your business and achieving success. They help new and budding businesses avoid the legal pitfalls that inexperienced entrepreneurs may be faced with. Hiring a lawyer early on in the process can help you keep your small business from facing a lawsuit or getting into trouble with the government for not filing the correct documentation.
WHAT CAN A LAWYER DO? Corporate governance is a critical part of some companies. Not doing your due diligence in this area can cause serious legal repercussions down the line. Here is a list of things a lawyer can do to help new business owners avoid legal trouble:
* In general, your lawyer can ensure your company follows the law properly, relieving you of possible personal liability in the future.
* They can guide entrepreneurs through the process of sales or acquisitions, help draft letters of intent, draft contracts, verify trademarks, and review contracts and agreements with buyers and sellers.
* Lawyers can also help you settle litigation. If former employees elect to sue for any reason, such as for discrimination, you may not be equipped to handle the suit on your own. Your lawyer can help you resolve a situation like this. Additionally, they can help you prepare policies in advance to prevent future litigation from occurring or escalating.
* They can help you set up labor rules in advance to ensure that none of your employees face discrimination.
* They can also help set up proper sexual harassment prevention training to help avoid disastrous suits down the road.
* Your lawyer can offer legal counsel and help you avoid common small business pitfalls that can eventually cost you money.
HIRING A LAWYER. Before hiring a lawyer, it's important to evaluate your legal needs. You should aim to hire a lawyer whose background and expertise are compatible with your business goals. If you are considering meeting with a lawyer, here are some questions you can ask them to see if they are a good fit for you:
* How long have you been practicing law?
* Do you work with many small businesses in our industry?
* How can you help us grow and develop our business?
* What can you do that we can't do for ourselves?
* How often can we turn to you for legal counsel?
* Are there any areas of our small business that you are unfamiliar with?
Hiring a lawyer can be a great choice for your business. As with anything else, it's important to ensure that you're making the most of your investment by hiring the appropriate lawyer for your needs. If you aren't sure what type of lawyer you should work with, schedule a consultation with a few different lawyers in your area to see how they can assist you. If we can be of service, please feel free to give us a call at 253.858.5434 to set up an appointment today.