As a small business owner, you may be wondering if there are any benefits to hiring an attorney. The answer is a big YES! A legal expert can help protect your company from lawsuits, secure your assets, and ensure that all paperwork meets your interests and standards. Still, these are just an inkling of an attorney’s importance to your success. For more insight, here’s why you should hire a lawyer and how you can find the right one.
Shaping Up Your Business
If you think you would only need an attorney in court, sorry, but you’re wrong. Hiring a lawyer even before you start your business truly makes the difference. He can guide your plans to make sure you can operate without legal hiccups and concerns. Here are some things that a lawyer can help you with:
- Give you advice regarding your business name.
- Check for the availability and register your trademark.
- Determine any property or zoning issues regarding business location.
- Help plan on how to protect your intellectual properties.
Keep in mind that these are just some of the advantages of having a lawyer by your side. More importantly, as your business grows, you can keep him on retainer for a more affordable price.
To Help You with the Launch
Before you launch your startup, you’ll have to decide on a business entity. The type of entity you choose determines what paperwork and legal requirements your company must meet. This is where having an attorney by your side becomes priceless. He can give you advice in choosing a suitable business structure without a lot of legal loopholes. More importantly, he can assist with the registration to your local municipality. You don’t want to be facing issues at the beginning of your entrepreneurship career. And only an attorney can make that happen.
Navigate Taxation
Keeping up with taxes is crucial to your business’s success. These numbers might seem like a small percentage, but they can get overwhelming and confusing as your business expands. With the help of an attorney, you can stay on top of things by filing your taxes correctly and paying what’s owed in a timely manner to avoid hefty penalties from the IRS. Not only that. He can help dig up your credits and deductions so you can save more money. All these things that an attorney helps you with regarding taxes allow you to focus on running your company.
Create and Review Contracts
Contracts can be overly complicated for the general public, but not for an attorney. Equipped with a broad knowledge of the law, you can entrust the job of drafting the contract to him. He’ll be able to ensure that no legal loopholes exist that can pull down your business in the long run. On top of that, he can review contracts being offered to you as well. A professional attorney will provide an unbiased opinion on the risks and gains of your agreements. With this in mind, you can rest easy making decisions without fear of any legal backlash.
Protect You from Lawsuits
Now here comes the real deal. If you’re lucky, you might be able to run your business without encountering a lawsuit. But if you find yourself entangled in a legal mess, only a skilled attorney can help you get out. Whether it’s an employee you just fired or a competitor claiming intellectual property rights, you won’t be able to survive a lawsuit without an attorney’s help. First of all, he’ll represent your company in court and protect its best interests. As events proceed, he will gather data, investigate, and prepare the documentation for the defense. It’s impossible to head to court without an attorney on your side. That’s why you want to make you hire someone skilled, and you can trust.
Legal Advice
An attorney is not only there to represent your business in court but also provides legal advice for your company. Questions like “What should I do with the money?” or “How can I grow from this point onwards?” might be answered by an attorney’s expertise. He knows the best course of action when facing a problem with negotiations or labor disputes. Many other specific questions require certain knowledge of the law that a good lawyer can provide. If you want your company to succeed over the years, then you should start building up a solid partnership with a reputable attorney now.
Hiring the Right Attorney
Like many other industries, the legal world is filled with countless talented and trustworthy lawyers. To pick the right one, make sure to do your research. Contact attorney networks and see who they can recommend. And before signing a contract with one, ask the right questions first to see if you’re a good fit. Lastly, know that you don’t have to force yourself to hire an attorney. However, it’s definitely a wise investment to protect your business sooner or later.