Among the countless worries for entrepreneurs – starting or running a business – is whether they need a business attorney.
A good business attorney will provide vital assistance in almost every aspect of your business. From basic zoning compliance, copyright and trademark advice to formal business incorporation, and lawsuits and liability.
The perception is that attorneys charge high rates. Many new small businesses may not have much, if any, extra capital with which to pay lawyers. As a result, most small business owners only hire an attorney when confronted with a serious legal problems.
However, legal help is a “cost of doing business” and saves you money in the long run.
The most important rule about dealing with attorneys:
Be Proactive:
Most small businesses put off hiring an attorney until the sheriff is standing at the door serving them with a Summons. Bad mistake. The time to have the right business attorney for your business legal needs is NOW. A business attorney provides legal advice on how to minimize risks and liabilities. Once you have been served with a summons and complaint, the problem has already occurred, and it may just be a question of how much you will have to pay (in court costs, attorneys’ fees, settlements and other expenses) to get the problem resolved.
Issues Where You Will Need a Business Attorney
There are times, when a business faces issues that are too complex, too time consuming, or fraught with liability issues. At that point,the wisest move is to retain a business attorney.
A few examples include:
- Former, current, or prospective employees suing on the grounds of discrimination in hiring, firing, or hostile work environment
- Local, state, or federal government entities filing complaints or investigating your business for violation of any laws.
- Making a “special allocation” of profits and losses or contributing appreciated property to partnership or LLC.
- Negotiating for the sale of your company or for the acquisition of another company or its assets.
An ounce of prevention is worth a pound of the cure:
When emphasis is on preventing such occurrences in the first place, you will minimize how much you are paying in attorneys’ fees, court fees, and damages.
If you have any questions or need legal advice, please feel free to contact JV LAW GROUP today at 714-752-3270 or send us an email info@jvlawgroup.com.
