When you operate a business, you have to make sure that your business is going to succeed.
You have to foresee what's going to happen and expect for situations that may arise.
You should have the accessibility and flexibility in acquiring resources that you may need in the future.
Most of the time, a business would definitely hire an accountant but forget to get a business lawyer.
It's important to hire a business lawyer because they offer critical assistance for your business in many aspects.
Prevention is better than cure, so before you get entangled with any legal conflicts, get a lawyer for your business now.
It would save you money in the long run if you do...
Types of Business Lawyers
Each lawyer has its own specialization. You have to find out which kind of lawyer you would need their skills for.
Below are some specialized skills of business lawyers:
Taxes and License Business Lawyers
Taxes and License specialized lawyers usually work together with your accountants. Most of the time, they are able to register your business to file for state and federal taxes and the like.
They also should know the business transactions and the consequences of the company.
Contract Business Lawyers
All businesses have to have contracts, whether or not it's for their employees, clients, customers or suppliers.
Business Organizations Lawyers
Business Organization lawyers can help you decide what kind of business you would need to start, whether it would be a Limited Liability Company (LLC) or a Corporation.
They would help you find ways to manage your business and make sure all the legal paperwork have been filed.
Intellectual Property Lawyer
If you have any confidential information in your business, you can hire a lawyer to help you register your services or products to make sure it is under copyright protection and federal trademark.
Real Estate Lawyer
A real estate lawyer would help you in getting your office or commercial space lease, adding a "tenant's addendum" if applicable.
Things to Consider Before You Hire a Business Lawyer
Before you hire a business lawyer, you should get a list of potential lawyers and ask questions to help you make a decision if you want to hire them or not:
- Ask the method of how they would be handling your request or case. Ask them what they are going to do, what steps would be involved, the preparation requirements, what to expect and the lawyer service charges. You should be comfortable with your lawyer's style of working.
- Check and see if your lawyer has the skills and experience for the job or if there was a identical case or task they have done before.
- Find out what their fees are. Make sure they explain their fees, because there are a lot of fees such as consultation fees, retainer fees and contingency fees. The fees provided should be reasonable and fit for the task.
- It is strongly suggested that their fees and other agreements you may have would be written in paper. They should be able to give a breakdown of their fees and not have any hidden charges.
- If the issue is a complex, let them explain the situation in layman's terms. Their explanation should be logical and understandable. How your lawyer communicates with you would give you an idea on how he or she would handle the job.
- The lawyer or their firm should be conveniently located, especially if you need to meet up frequently.
- And of course... TRUST YOUR INSTINCTS. If you feel you're uncomfortable with your lawyer, take time to reflect and think if you would like to hire them or not. Getting the right lawyer may take time, but it should be worth it.
When Do You Need a Lawyer for Your Business?
There are many instance when you need a lawyer for your business, including...
- For any kind of government entities, whether its state, local or federal, that files complaints or is currently investigating your business for any possible law violations.
- Any type of entity like an employee that would like to sue on the grounds of discrimination because of the company's environment.
- Negotiations for a sale or an acquisition of a new company and can include its assets.
- Making a "Special Allocation" of your profits and your losses or any contributed property to a partnership or an LLC agreement.
- Any environmental issue that happens where the business is involved.
- For solving legal problems. Lawyers can give you the best possible advice in your legal problem.
- Explaining any contracts or agreements that you have difficulty in understanding.
- Making and negotiating contracts.
- Hiring employees.
- Raising capital.
- Creation or merging a business.
A business lawyer can give you a huge difference especially in court proceedings because they are experts in the rules and regulations of the law.
You can choose a lawyer that can specialize in one specific area or can handle various legal problems. They should help you with dealing with the government, third party groups and the public.
These are just examples of how lawyers can provide you excellent advice and services.
If you are a small company and you have a small budget, you can focus on these legal priorities:
- Creating your own business and making sure that you are protected from any business liabilities.
- Make sure that there the business is protected by its intellectual property and it is company owned.
- Creating and checking contracts and agreements.
- Checking the legal matters when hiring and terminating employees.
- Any government complaints to the business.
If you would like to save more, you can research about your situation and ask legal guidance from your lawyer.
This way, the lawyer does not need to explain to you what needs to be done or what's happening and would review and advise you of what to do next.
For more information about lawyers for business or would like to acquire a lawyer, you may contact Mollaei Law for us to answer any questions you may have or to provide you a registered business lawyer.