As with accountants and HR professionals, lawyers can be vital to a company’s growth and success. A good business attorney will provide crucial assistance in almost every facet of your business. They can deal with most of your banking, tax, and insurance questions freeing you up to focus on the business. A monthly 5-10 minute catch-up meeting can save you substantial hassle by catching little legal issues before they can get bigger. If you are a startup, having a legal partner early on can help give it a strong foundation for long-term success including navigating funding and going public.
A qualified business lawyer provides business people with benefits such as registration and licensing, protection of intellectual property, and help with investor relations. Other things business lawyers are required for:
Formation/Incorporation:
Determining your business structure, whether you want to be an LLC or corporation can have long term effects, gaining clarity sooner will pay off. Also, the lawyer will be the one to actually incorporate your business and deal with paperwork.
Contracts:
Your primary job is to focus on growth not to decode contractual legal jargon, that’s what lawyers are for!
Real Estate:
If you are reviewing, negotiating or investing in a lease for your business or property related to it, a lawyer can steer you through the complicated maze of regulations and codes.
Taxes, Licensing and Regulations:
Business attorneys can also advise you about changes to tax structures and how to obtain licenses to conduct business or expand it.
Disputes:
An attorney is very useful during business disputes or disagreements. They can ascertain the facts, understand the situation, and advise you accordingly.
Here are a few things to consider for when selecting representation:
- Is the attorney experienced?
- Have they dealt with your industry before?
- Is the lawyer a simple and effective communicator?
- Are they well-connected?
