5 Advantages Of Hiring A Business Lawyer When Starting Your Company
5 Advantages of Hiring a Business Lawyer When Starting Your Company
When starting a business, you may encounter many anxious and excited emotions with the hope of running a smooth and successful business. Unfortunately, issues and uncertainties arise, and you will need an attorney to protect yourself against liability and legal consequences. Having a good business lawyer will provide peace of mind and value to your business. Consider the following reasons for hiring the services of a business lawyer, when starting your business.
1. Choosing a Suitable Business Structure
Choosing a proper business structure for your business is crucial because if you do not structure properly from the get-go, you may find yourself with unnecessary legal issues down the road. You will be exposed to more liability from partnerships and sole proprietorships than that of an LLC or s and c corporation. Consider hiring a business lawyer to assess your business and help you understand liabilities, tax obligations, employee inquiries, and setup costs, so you can decide what business structure is best suitable.
2. Prevent Lawsuits
Hiring a business lawyer can reduce the exposure of your business from lawsuits, including employment lawsuits. A business lawyer will help get your business in legal order for state and federal employment laws. Being proactive before a lawsuit occurs will save you from countless headaches down the road.
3. Drafting Contracts
All business contracts, whether for employees, vendors, customers, etc., should be reviewed by a business lawyer to ensure all necessary items are captured. Not sure if a transaction requires a contract? Hiring a business lawyer can provide you clarity while ensuring that a quality contract is produced.
4. Protect your Intellectual Property
Intellectual property includes product designs, inventions, logos, business services, original works, and trade secrets. Protecting your intellectual property is vital to maintain your distinctive and competitive business. Depending on the type of intellectual property you have, a patent, copyright, or trademark can be filed. A business lawyer can help you protect and preserve your legal right to your intellectual property.
5. Real-Estate Leases and Agreements
Unless your business is run from your home, you will be looking to set up shop in an office building, warehouse or other commercial space. Whether you are purchasing or leasing space, you will want a business attorney to review all fine print on all contracts, terms, and agreements.