When you’re starting out, you want to make sure your business stays safe. Take a look at this guide to learn why your startup should hire a business attorney.
When starting up your own business, especially if it’s your first, it’s understandable that you want to be tight with the money. We get it, you worked your butt off getting that money to start the business in the first place.
And one of the tempting expense to cut corners on is hiring a business attorney.
We’re telling you to not even think about it.
Not hiring a lawyer to protect your business is like buying a new car without insurance. You think that you’re safe because you’re a careful driver who’s never had an accident. But unfortunately, things can and do happen. And that applies to your business as well.
Once you get sued, it’s too late. Not only will your business take damage, but you’ll also suffer emotional damage as well.
Don’t think about the costs. Think about the benefits that hiring a lawyer can do to your business. Here are some of them.
Keeping your business running will always be a struggle. The business side of things will be more than enough for you to handle. Let the business lawyer take care of the legal side.
But like doctors, lawyers have become very specialized. If you have a business set up in, for example, Long Beach, you can’t just hire your Long Beach family attorney (even if he or she is really good). You’d want someone who is specialized in handling business legal matters.
It’s not just about protecting you from litigation. But we’ll get to that later.
A lawyer specialized in business can give you advice on your business structure. How are you getting funding? What are your tax obligations and personal liabilities?
If you’re leasing a space, your lawyer can also help you structure a palatable contract with your landlord. And not just your landlord but also with your investors, customers, and suppliers as well.
And if you have a secret ingredient or a new method or product, your attorney can get them trademarked and copyright-protected.
Let’s be real. The world isn’t all candies and rainbows. You can be sued by anyone, anywhere, at any time.
Your business partners, employees, and even the government are all potential plaintiffs against you. It may seem that things are all well and good. Then a lawsuit will hit you out of nowhere by your best friend who’s also one of the founders of the business.
Someone can sue you even if they’re not even hired yet. If you ask questions during the interview that someone took offense to, you can get sued. Your attorney can make sure that you don’t ask the wrong questions.
Lawsuits from the government are usually environment-related. There are a lot of regulations, codes, and specifications that may overwhelm you. One mistake can get you into legal trouble. Your business lawyer can sort all of these out.
Hiring a business attorney isn’t just a task in a to-do list that you have to check. They’re not just an item in your business expenses. They’ll serve you well and can keep your business afloat.
Did you like this article? If yes, check out this article on how to protect your business from sticky situations.