As a small business owner, you have a lot on your plate. Hiring a small business attorney, though, isn’t one of those things you think about or do often.
When did you last hire an attorney on a business-related issue?
If you’re anything like the vast majority of small business owners, it’s been quite a while – if ever. You likely see hiring a lawyer as an unnecessary business expense that your business shouldn’t be splurging on.
You may be right, but there are instances when it’s prudent to hire an attorney. Knowing when to hire can make all the difference, especially when you’re on a shoestring budget.
Read on to learn when it’s absolutely necessary to hire a business lawyer.
You Need Help Choosing a Legal Business Structure
Many entrepreneurs don’t need a lawyer when they’re setting up their businesses. That’s because they’re setting up sole proprietorships.
A sole proprietor business is easy to set up. You just need a business name and an address. The local authority in your state will register it.
However, there are other business structures that are complicated and need lots of paperwork. For instance, if you’re setting up a limited liability company or a corporation, you might not know how to go about the paperwork. Drawing articles of incorporation, for instance, requires knowledge of business law.
So, if you need help registering a legal business structure, don’t hesitate to hire a business attorney.
You Need to Create or Enter into a Contract
In business, there are times when you need to create a contract or enter one. For instance, you could need to create an employment contract when you’re looking to hire workers. Or maybe you’re starting a partnership and you need to sign a partnership contract.
Contracts are legally binding, so you need to be sure you’re making a smart decision before entering into one. A small business attorney has the skills to draw a smart contract on your behalf. They can also go through contract terms and conditions and ensure you’re aware of what it entails before you sign.
You’ve Been Slapped with a Lawsuit
You didn’t get into business to deal with lawsuits but they can be an inevitable consequence of entrepreneurship. Anyone, be it an employee, business partner, customer, the government, competitor, can sue your business for whatever reason.
Yet, whether a lawsuit has merit or not, you have to respond. Ignore it and you risk a default judgment.
You could respond to it on your own, but even an unwise person wouldn’t do that. You need a small business attorney to handle the case. If the case has no merit, that’s the cheapest and quickest way to have it throw it out. If it has merit, a lawyer will ensure it reaches an outcome that’s most favorable to you and your business.
Be sure to find a competent lawyer, like those at Venerable.law.
Don’t Wait Until It’s Too Late to Hire a Small Business Attorney
As a small business, you may not need to have an attorney on staff. However, this doesn’t mean you don’t need legal help. From time to time, you’ll need to hire a small business attorney. The key is to know when you really need to make the call.
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