by J. Branden Snyder
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Big businesses always have a business lawyer on hand to deal with legal situations that may arise, but many small business owners don’t take advantage of such a vital human resource.
Like accountants and insurance agents, hiring a business attorney should be a resource that is considered part of the cost of owning and operating a business. While you may not need your business lawyer at all times, it’s best to build a relationship with an attorney who is experienced in handling business law so you know who to call when you need someone.
Don’t wait until a problem arises. Here are five reasons why you should always have a business attorney at your fingertips.
A business lawyer can help you determine the best legal structure for your business. How do you know if you need to form an LLC or a corporation, or enter into a partnership agreement? A business lawyer will walk you through the pros and cons of various business structures and help you determine the best legal structure for your business. Once you determine the legal structure that is the best fit for your business, a business attorney will help you register the paperwork to get your business off the ground.
A business lawyer can help write contract and non-disclosure agreements. Contracts and non-disclosure agreements (NDAs) are a normal part of every business. A business attorney can draw up these documents for you, ensuring all your bases are covered and that you are protected in the event of a disagreement or fallout with an employee or client.
A business lawyer can help file a patent. Patents are time consuming and take years to get through the approval process. They are also very expensive. In some cases, a patent may not provide any real advantages to you or your business. A business lawyer will evaluate your product and help you determine if a patent is necessary or beneficial.
A business lawyer can help you buy or sell a business. When it comes time to buy or sell a business, you need a lawyer on your side that can help negotiate agreements and contracts. If your business is a partnership or LLC with multiple owners, you will need a buy-sell agreement in place from the beginning to protect you in the event one owner wishes to transfer ownership, or if one owner dies.
A business lawyer can help if you are facing litigation. It isn’t uncommon for businesses to face lawsuits by customers, or even current or former employees. A business lawyer will help you navigate the legal process and work to help you achieve the best possible outcome.
If you are facing one of these scenarios, contact the experienced business law team at The Law Offices of Tim O’Hare to help save you time and money on important legal matters.
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