When it comes to setting up your new business venture there are always considerations and things you will need to do to make the business totally legal. One of the things every single business needs is a lawyer, and it is something you will want to handle from the moment you start trading.
The importance of business lawyers is more than just helping you with your licensing and taxes, they provide you with security and huge value which cannot be replaced elsewhere. Here are some of the reasons you need a lawyer for your business.
It can protect you from a lawsuit
One of the issues you might have to face during your career is a lawsuit from a former employee or a customer. It is something which you could face even if you haven’t done anything wrong and it can be incredibly damaging to both your reputation and your business assets. If you want to protect yourself against damages you can have your lawyer on hand to defend you at court and make sure that your side of the story is heard. Having a good lawyer in times like these can make all the difference and allow you to carry on with your business success.
They keep your contracts secure
When you start up a business there will come a time where you need to hire a new staff member or you need to conduct a deal with a client. In both do these cases you will be required to write up a contract which acts as a formal agreement for you both to follow. If you have a lawyer on hand they can ensure that your contract is totally watertight and that you haven’t missed out any key details which could damage you later on. It is important to make the effort to draw up contracts correctly for your business.
You’ll avoid silly mistakes
Even the most experienced business owner will not be able to do everything on their own. There will always be things which you cannot explain or legal aspects of a business which you simply aren’t aware of. It is incredibly important to have access to a lawyer in these instances because you could end up in trouble for forgetting things. For example, even the act of using an image that belongs to someone else can bring a heavy fine on your head, so it is crucial that you know the rules regarding copyright and that you can stick to them.
A lawyer has connections
During your years running a business, you might end up needing specialist advice on certain projects. A lawyer is someone who works with many different types of people so they will likely be able to point you in the directions of someone who can help you with your issue.
They can help you get paid
If you ever go through a deal and one of your clients owes you money, you may find it difficult to get paid in a certain amount of time. However, if you have a lawyer working for you, you can simply ask them to send a request and this will immediately send the signal that you mean business and the client will pay up.
They will help you grow
Having a lawyer on your side during the first few years of your business will help you to grow and develop in the right way, and will help you to avoid stupid mistakes which could hinder your success. The beauty of a lawyer is that if you decide that you want to expand overseas they can help you make your dream come true.
A lawyer will be able to research another country, find out about the laws for business and make sure that any transition you make into the international market is a smooth one. It will ensure that you don’t illegally set up business abroad due to not knowing the laws surrounding business. This will allow you to grow, expand and thrive in other countries and eventually look to take over the world with your brand.
They can give you advice
If you are having an issue with a certain aspect of your business it can be difficult for you to see how to get past this and move on. A lawyer can provide a great confidant in times like these and they will be able to give you some sound advice on what your next move should be for the brand and your future.
* This is a contributed post