No matter the size, almost all businesses will need to contact a business lawyer at some point. Unfortunately, many business owners only call after an issue has occurred, not knowing that seeking help early can prevent problems in the first place. While this doesn’t mean you need to hire a lawyer for every single issue, there are times when you should consider hiring a business attorney.
Buying or Selling a Business
A lot of money is at stake when buying or selling a business, which is why you must be able to accurately determine its value. Because there are many ways to do this, a lawyer can help you conduct research and make sure you get the best deal possible. At the very least, you should have a lawyer review your purchase to point out any inconsistencies or questionable terms that you may have unknowingly committed to.
Starting or Dissolving a Business
For those starting a business, it’s understandable to try to save as much money as possible, but inexperienced business owners can run into many issues down the line. For any business, big or small, starting off on the right foot is critical to future success. A business lawyer can help you review real estate transactions; find insurance; draft articles of organization, partnership, and operating agreements; and even register your business with your state.
Dissolving a business is far from a simple process, and if done incorrectly, it can result in liability and legal issues. A lawyer can help you cancel permits, resolve obligations and debts, terminate any outstanding contracts, and file dissolution forms with your state. You must review any change of business structure or ownership with a business lawyer.
Establishing Employee Contracts and Procedures
Business law is complex, your business must abide by state rules and regulations. This means that when you’re drafting or redrafting employee contracts, no matter the role or position, a business attorney can ensure that the contract is legally abiding.
Business lawyers can also help ensure that employee procedures are compliant with all state and federal employment laws, such as employee benefits, workplace safety, employment policies, and discrimination and harassment laws. It’s incredibly easy for uninformed business owners to make mistakes and break employment laws by accident.
Addressing Disputes and Litigation
The best way to know when it’s time to hire a business attorney is if you’re afraid of or have been presented with a legal complaint or any form of litigation. You must deal with any legal issue that arises alongside a business litigation attorney, regardless of whether it’s a personal injury issue or infringement of your intellectual property.
You only have about 20 days to respond to a lawsuit before action is taken against you, which means you need to hire an attorney right away. They will help you go through the legal processes of filing, discovery, court appearances, questioning, and negotiation. Overall, a business attorney will keep your best interests in mind and make owning your business a little easier.