The world we live in is becoming more and more “legalized” by the day. Now, it seems that every issue or dispute that arises between individuals evolves into a legal dispute. Small business owners understand this better than most. And while this may be an unfortunate reality, it is the reality we currently live in. Whether you are just starting your small business, or have been running it for years, retaining a business attorney to assist you in your day-to-day can be key to a successful future. In this blog, we examine when and why you may want to retain an attorney for your small business.
In this fast-paced world, business owners know better than most the value of time and its direct correlation to profit. Thus, your goal as a business owner should be maximizing your time towards your business. One way a business owner can fully achieve this goal is by hiring an attorney to assist in day-to-day questions/issues/concerns as they arise. But, you may be wondering, how is hiring an attorney before a legal issue arises beneficial to my business? Isn’t the point of an attorney to help me when legal trouble comes about? The short answer is yes, attorneys help when legal issues arise, but the goal for you as a business owner should be trying to avoid legal issues all together. This will, in turn, help you maximize your valuable time towards the operational components of your business.
Preventing legal issues from arising is key to you as a business owner. Waiting until a legal issue arises to hire an attorney could result in you spending a lot more money, as well as spending valuable time in a legal dispute as opposed to running your business. You’re probably wondering how? Here is how. If you wait until a legal issue arises, then most likely your issue will involve court. Court costs, and everything that comes with an active case, are expensive. Paying an attorney to draft and file documents on your behalf, appear at court on your behalf, and defend you against whatever legal issue you may be faced with adds up quick. On the other hand, hiring an attorney before the issue arises can prevent it from becoming a legal issue, thereby saving you all of the money you would spend by bringing in an attorney to do damage control. Furthermore, court cases take a lot of time. Business owners know better than most how valuable time is. Proactively preventing legal issues from arising is crucial for business owners because it can save you from taking time away from successfully running your business.
Now, you may be wondering, what would an attorney be doing that could “proactively” prevent legal issues form arising? Or when exactly should I consider consulting an attorney? Some common areas in which an attorney could help prevent legal issues from arising, and situations when you may want to consult an attorney include:
- Contract formation and negotiation
- Decisions during the idea/startup stage
- Legal requirements and protocols for startups
- Leases
- Employment
- Taxes
- Insurance
- Employee Polices
- Formation of the business
- Dispute advocacy
These are just a few areas in which attorneys can help, and areas in which most, if not all, business owners will encounter.
While it may not be at the top of a small business owners “to-do” list, it is something that every small business owner should consider. As a business owner, your goal should be maximizing your time toward running your business. One way to do this is by preventing legal issues from ever occurring, instead of waiting until one arises. Preventing legal issues from arising is one of the keys to running a successful business. Obtaining skilled counsel is key to relieving some of the burden and stress that comes with running a business. This blog was written by attorneys at Dixon & Moseley, P.C., who handle a wide variety of business-related issues throughout the state. It is written and posted for general educational purposes and is not to be construed as legal advice or solicitation for services. It is an advertisement.